Hino Motors Philippines Corporation (HMP) is setting its sight to become a major player in the Philippine truck and bus industry. It has not only recently changed its corporate identity, but it is also keen to boost its production figures from 150 trucks/buses per month to building 350 units per month.
As for its production capacities, HMP is targeting to assemble around 120 per month from the previous 30 units.
The corporate transition also reflects the confidence of foreign partners. Via a new Joint Venture Agreement, investing partners Hino Motors Ltd. and Marubeni Corporation of Japan now hold majority shares in HMP, with increased equity shares of 70 percent and 20 percent, respectively, with the Filipino partners holding 10 percent.
Other significant improvisations in the pipeline include revitalized direct marketing operations and strengthened “One Stop Shop” operations with its own Body Manufacturing and Maintenance Shop located in its facility in Canlubang, Laguna.
HMP is mainly engaged in the assembly and distribution of quality Hino trucks and buses, distribution of genuine Hino spare parts and supply of other automotive-related products and quality full maintenance after sales.
According to Vicente Mills Jr., HMP chairman, the latest move “only shows the Japanese investors’ confidence and renewed interests to tap into the country’s growing economy and market potential.”
Moving forward via a strengthened partnership and a new name, HMP gears up for its next big milestones this year as it continues to provide loyal patrons with top-class, dependable value-for-money Hino trucks and buses.
“The new investment drastically increases our production, inventories, market and manufacturing capabilities. This makes the Hino brand stronger, better fitted and more responsive to diversified markets,” Mills said.
Aiming to deliver the same consistency and commitment to world-class quality, safety standards and superior product performance, HMP under the new joint venture is now better positioned to meet the demands of various commercial transport service owners.
Prior to the new joint venture, PHI’s strong positioning made it one of the fastest-growing brands in the truck segment, as evidenced by its impressive 20-percent market share in January-July 2015 — a 6.0-percent jump from its previous performance in year 2014.