NEWS RELEASE

August 8, 2008

Hino reinforces its business in Mexico by establishing a new manufacturing facility, introducing a new product, and investing capital in its sales company

Hino Motors, Ltd. (Hino) has decided to establish a new truck manufacturing company, “HINO MOTORS MANUFACTURING MEXICO, S.A. DE C.V.” (HMMM) in Guanajuato, United Mexican States (Mexico) through a joint venture with MITSUI & CO., LTD. (Mitsui).

Moreover, after Hino has entered the Mexican market and started marketing its “HINO 300 Series” *1 since August of last year through “HINO MOTORS SALES MEXICO, S.A. DE C.V.” (HIMEX), a sales company established by Mitsui, it will strive to increase its sales volume and position Hino’s brand more strongly in Mexico by introducing a new product, “HINO 500 Series” *2 at this time.

Hino aims at reinforcing price competitiveness by implementing logistic cost reductions and preferential tariff arrangements, and by manufacturing (assembling) the newly marketed “HINO 500 Series” locally, at the new plant.

Furthermore, seizing this opportunity to establish a new manufacturing company and expand its product range, Hino also will make its capital investment in the sales company, HIMEX, in order to further strengthen its business in Mexico and generate a synergistic effect with its manufacturing and sales organizations.


Notes:
*1 The “Hino 300 Series” is referred to as “Hino Dutro” in Japan, and it corresponds to the Classes 3 and 4 in Mexico.
*2 The “Hino 500 Series” is referred to as “Hino Ranger” in Japan, and it corresponds to the Classes 5 through 8 in Mexico.

 
< Joint Venture Profile >

1. Manufacturing Company

- Company name: HINO MOTORS MANUFACTURING MEXICO, S.A. DE C.V.
- Location: Silao-city, State of Guanajuato, United Mexican States (Mexico)
- Representative Director: scheduled to be elected from Hino
- Establishment: August 2008 (schedule)
- Capital: 9 million US Dollars
- Ratio of capital contribution: Hino 80%, Mitsui 20%
- Site area: 96,000m2 (Building area: 3,600m2)
- Production model: HINO 500 Series
- Production capacity: 1,200 units per year (1 shift, fixed time)
- Production start: July 2009 (schedule)
- Number of employees: Approx. 40 (at the start of production)
- Business: Manufacturing of Hino trucks

 

 2. Sales Company

- Company name: HINO MOTORS SALES MEXICO, S.A. DE C.V.
- Location: Mexico City, United Mexican States (Mexico)
- Representative Director: Hiroshi Hara (Mitsui)
- Establishment: January 2007
- Capital increase timing: August 2008 (schedule)
- Capital: 7.7 million US Dollars (5 million US Dollars before capital increase)
- Ratio of capital contribution: Hino 35%, Mitsui 65% (Mitsui 100% before capital increase)
- Number of employees: Approx. 40 (as of the end of 2008)
- Business: Sales of Hino trucks and service parts