Nissan and Mitsubishi Fuso Agree on Light-Duty Truck OEM Supply for Japan

YOKOHAMA/KAWASAKI, Japan - Nissan Motor Co., Ltd and Mitsubishi Fuso Truck and Bus Corporation (MFTBC) today reached a basic agreement regarding reciprocal original equipment manufacturer (OEM) supply of finished light-duty trucks for the Japanese market. The agreement is intended to enhance the light-duty truck business of both companies in Japan and is based on the strategic partnership between Daimler AG and Renault-Nissan Alliance announced on April 7, 2010.

The objective of the OEM supply agreement is to further strengthen the foundation of both companies' light-duty truck business by leveraging their collective knowledge and expertise. The reciprocal supply of vehicles will contribute to the overall reduction of development costs, lower manufacturing costs through economies of scale, and will increase efficiency and productivity for both companies.

The basic OEM supply agreement is as follows:

• Nissan to supply the Atlas F24 light-duty truck (payload 1.5 tons) to Mitsubishi Fuso
• Mitsubishi Fuso to supply the Canter light-duty truck (payload: 2.0 tons) to Nissan

A formal contract will be concluded in the future that will determine specifics of the OEM supply timing and volumes.

"In order for Nissan to achieve the goals of our mid-term business plan, Nissan Power 88, we must expand our product portfolio and strengthen our light commercial vehicle business. This is also a central element of our long-term strategy," said Nissan Chief Operating Officer, Toshiyuki Shiga. "We are aiming to become a global leader in manufacturing commercial vehicles by the end of fiscal 2016, which makes our partnership with Mitsubishi Fuso all the more important. Maximizing the synergies between the Renault-Nissan Alliance and Daimler enables the delivery of products that meet our customers' needs and leverages the strengths of both companies."

"The agreement today is a firm step forward under the strategic partnership between Daimler AG and Renault-Nissan and represents an important milestone for Fuso in achieving our 5-pillar growth strategy 'FUSO 2015,'" said Dr. Albert Kirchmann, MFTBC President & CEO. "There is fundamentally a growing need of bringing operations closer to markets due to the ever more fierce competition globally. As such, a partnership with Nissan Motor is a logical step forward in terms of further concentrating development resources and increasing scale effects. Under FUSO 2015, Fuso aspires to significantly increase customer satisfaction through further focus on product satisfaction, trust-based sales and dependable service, on the foundation of its industry leading fuel-efficient products."

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