Toyota Motor Corporation holds 50.2% of the voting rights of Hino, establishing it as a key commercial vehicle manufacturer within Toyota's portfolio. Domestic sales represent the largest share of Hino's revenue, with Asia excluding Japan the next most significant contributor. The company maintains independent operational control while leveraging Toyota's resources and market access.
Cyborg Score Rationale
Hino benefits from Toyota's backing and leading market position in commercial vehicles, but faces headwinds from declining recent net income and industry-wide transition pressures in electrification and decarbonization. Positioned well for Asian commercial vehicle markets but vulnerable to EV disruption.
Top Insights
Hino Motors is a subsidiary of Toyota Motor Corporation, providing capital, technology, and distribution advantages
As of January 2026, the company has 33,610 employees
EBITDA is 131.39 billion JPY with current EBITDA margin of 6.89%
Commercial vehicle market leadership in Asia with diversified product portfolio across heavy trucks, buses, and light commercial vehicles
Named Competitors
Medium and Heavy Commercial Vehicles — Japanese competitor in commercial truck and bus manufacturing
Heavy Trucks — European competitor with Asian commercial vehicle operations
Premium Commercial Vehicles — Global leader in commercial vehicle manufacturing