Hino Motors (Thailand) Ltd.,decided to restructure the company

Bangkok--Jul 1--Chuo Senko (Thailand) Hino Motors (Thailand) Ltd., which is Hino's largest production and sales company in South East Asia, decided to restructure the company in order to strengthen and streamline manufacturing and sales functions. A new manufacturing company under the name of "HINO MOTORS MANUFACTURING (THAILAND) LTD." by Mr. Kunio Tomura as the president, will run manufacturing function about producing assembling and exporting of Hino products including components and parts and importing and purchasing of pars for all manufacturing. The registration capitals of the new company are 2,000 mullion Baht, consisting of main shareholder of 80% holding by Hino Motors, Ltd. and 20% shares holding by Mitsui & Co., Ltd. The new company will accept the transfer of business in relating to manufacturing function for Hino Motors (Thailand) Ltd. effective as from 1st July, 2003 thereon. For Hino Motors (Thailand) Ltd., after the transfer of manufacturing function to the new company, the name of the company will be changed to "HINO MOTORS SALES (THAILAND) LTD.", having Mr. Taro Yoshimura as the president under the registration capitals of 713 million Baht. The company will continue to run business of domestic sales of Hino truck and after-sales service of truck and parts effective as from 1st July, 2003 as well. By this restructuring, the company will strengthen to manufacture units products for Toyota Motors Thailand Co.,Ltd. etc. in addition to manufacturing Hino Products and also sales of Hino products as well as increase effective in business operation to participate the competition and growth of automobile market. End. -RK-

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