Archion reports strong maiden Q1 results

Archion Corporation, a holding company for Japanese truck manufacturers Mitsubishi Fuso Truck and Bus Corporation and Hino Motors, released its first quarter financial results and outlook for the full fiscal year on 1 April 2026. The new entity was created with Toyota Motor Corporation and Daimler Truck AG owning 25% each, while the remaining shares are publicly traded on the Tokyo Stock Exchange.

In the April-June quarter of 2026, the combined revenues of Hino and MFTBC rose by 14% year-on-year to JPY 597.9 billion (US$ 3.76 billion), while operating earnings increased by 32% to JPY 29 billion before preliminary bargain purchase gains. With the inclusion of these gains, operating profit surged elevenfold year-on-year to JPY 262.3 billion, and net profits jumped fourteenfold to JPY 262.3 billion.

Total vehicle sales grew by 14% year-on-year to 60,000 units, up from 52,000 units in the same period the previous year. This growth was driven by strong products, enhanced product offerings, and supply following the launch of new heavy-duty and light-duty truck models.

In Japan, combined Hino and MFTBC registrations rebounded by 21% to 18,880 vehicles from weak levels in the previous year. Meanwhile, sales in Southeast Asia surged by 51% to 22,000 units, fueled by a significant order from the Indonesian government and a strong recovery by Hino in Thailand. However, deliveries in the Middle East plummeted by 82% year-on-year to approximately 1,000 units due to the ongoing conflict in the region.

The company noted that it has managed to supply vehicles and parts effectively by establishing alternative logistics routes, including overland transportation and using alternative ports, in collaboration with local partners.