Hino Motors Philippines Corporation, official distributor of Hino Motors in the Philippines, becomes new affiliate of Marubeni Corporation

Jul. 28. 2015
Marubeni Corporation

Marubeni Corporation (“Marubeni”) is pleased to announce that it has made an affiliate of Pilipinas Hino Inc. (“PHI”), official distributor of Hino Motors, Ltd. (“Hino”) in the Philippines, through the purchase of an additional 5% share in PHI.

Since 1975, Marubeni has held a 15% share in PHI and has engaged in the sales of Hino trucks and buses in the Philippines together with Hino and local partner Professional Managers, Inc. (“PMI”). By acquiring an additional 5% share from PMI, Marubeni will become a 20% shareholder of PHI. Marubeni will accordingly send one full-time director to PHI and together with Hino, which also increased its share to 70%, and PMI, set out to further enhance the revenue base of PHI.

In line with this change in shareholder composition, the corporate name of PHI will be changed to Hino Motors Philippines Corporation (“HMP”).

The Philippine commercial vehicle market has been showing growth which is expected to continue into the future. Marubeni will utilize its expertise built over its years of business experience in Philippines by participating in the management of HMP and contribute to the continuous growth of HMP as a partner of Hino.

Outline of HMP

Corporate name : Hino Motors Philippines Corporation
Address : Industrial Park Road, Canlubang Industrial Estate, Canlubang
  Calamba City, Laguna, Philippines, 4027
Foundation : March 1975
President : Mr. Hiroshi AOKI
Capital : PHP 900 million
Shareholder : Hino 70%, Marubeni 20%, PMI 10%
Principal business : Importation, assembly, sales, and body building of Hino trucks
   buses and spare parts