Archion Corporation, the newly-established holding company for Japanese truck-makers Mitsubishi Fuso Truck and Bus Corporation (MFTBC) and Hino Motors, reported its maiden quarterly financial results, for the first quarter of the current fiscal year and its outlook for the full year.
The company was established at the beginning of Japan’s current fiscal year, on 1 April 2026, as the 100% shareholder of both Hino Motors and MFTBC. The truck-makers’ former parent companies, Toyota Motor Corporation and Daimler Truck AG, each own 25% of Archion’s equity, with the remaining 50% of shares publicly traded on the Tokyo Stock Exchange.
Combined Hino and MFTBC revenues increased by 14% year-on-year to JPY 597.9 billion (US$ 3.76 billion) on a like-for-like basis in the April-June quarter of 2026, while operating earnings rose by 32% to JPY 29 billion before ‘preliminary bargain purchase’ gains.
Including the preliminary bargain purchase gains, applicable because “the fair value of the net assets acquired exceeded the purchase consideration transferred at the time of the integration,” operating profit rose elevenfold year-on-year to JPY 262.3 billion, while net profits were up fourteenfold to JPY 262.3 billion.
Total vehicle sales rose by 14% year-on-year to 60,000 units in the April-June quarter, up from 52,000 units a year earlier, supported by “strong products, improved product offering and supply following the launch of new heavy-duty and light-duty truck models.”
Combined Hino and MFTBC registrations in Japan rebounded by 21% to 18,880 vehicles from weak year-earlier levels, while sales in Southeast Asia surged by 51% to 22,000 units, driven by a “large-scale order from the Indonesian government” and a strong rebound by Hino in Thailand.
Deliveries in the Middle East plunged by 82% year-on-year to around 1,000 units due to the Middle East conflict. The company noted that it “has been able to selectively supply vehicles and parts by establishing alternative logistics routes, including overland transportation and the use of alternative ports, in cooperation with local partners.”
“Archion reports strong maiden Q1 results” was originally created and published by Just Auto, a GlobalData owned brand.