At the meeting of the board of directors held on September 13, 2024, Hino Motors, Ltd. (head office: Hino City, Tokyo; president: Satoshi Ogiso; hereinafter referred to as "Hino") resolved to dissolve Shanghai Hino Engine Co., Ltd., a consolidated subsidiary of our company (hereinafter referred to as "Shanghai Hino") . Shanghai Hino is also planning to pass a resolution to disband.

　Shanghai Hino has manufactured and sold engines for commercial vehicles and construction machinery in mainly the Chinese market. This time, we have concluded that it is unlikely that the business of Shanghai Hino will grow in a sustainable manner, mainly because of expanding EV vehicles and construction machinery in China, and decided to withdraw from this business and dissolve the consolidated subsidiary. Manufacturing will cease at the end of September 2024, after which dissolution procedures will begin promptly.

　Hino would like to express heartfelt thanks to the support and efforts of customers, suppliers, distributors, affiliates, authorities, and local communities, who have supported the business of Shanghai Hino so far.

　While appreciating employees supporting Shanghai Hino and their family members, we will support them through open communication with them until the dissolution and liquidation of the business, and deal with the treatment of employees, including compensation, in good faith.

　Even after the dissolution of Shanghai Hino, Hino will continue the supply of spare parts and the provision of services in the Chinese market, and offer value to customers.

　

<Outline of Shanghai Hino>

Name	Shanghai Hino Engine Co., Ltd.
Location	179 Huancheng East Road, Fengxian District, Shanghai, China
Post and name of the representative	Representative Director Makoto Sensui
Business description	Manufacturing and sale of engines for vehicles and construction machinery
Capital stock	29.98 million U.S. dollars
Established in	Oct. 2003
Major shareholders and their shareholding ratios	Hino Motors, Ltd.: 70%, Guangzhou Automobile Group Co., Ltd.: 30%