In an effort to gain more of the commercial bus and trucking market, 40-year old Pilipinas Hino, Inc. (PHI) has taken on the mantle of Hino Motors Philippines Corporation (HMP). The rebranding was brought about by a new joint venture agreement giving partners Hino Motors, Ltd. and Marubeni Corporation of Japan majority control over HMP with 70- and 20-percent shares respectively, with Filipino partners getting 10-percent of the pie.
Present during the corporate re-launch at the New World Hotel were the top brass of HMP led by chairman Vicente Mills, Jr., Hiroshi Aoki (president), Koji Ota (VP/marketing and assistant to the president), Susumu Myokan (VP/treasurer), Augusto Salcedo (VP/general sales manager), Felipe Barroga (VP/comptroller), and Mario Regala (VP/manufacturing).
The event was also attended by Masakazu Ichikawa, chairman of Hino Motors, Ltd.; Michihiko Ota, vice chairman of Marubeni Corporation; Kazuhide Ishikawa, Japanese ambassador to the Philippines; Ma. Corazon Dichosa, director /BOI-Investment Policy and Planning Service; and Atty. Winston T. Ginez, chairman of LTFRB.
“The upward momentum of our economy, plus the rapidly increasing consumer demand and growth potential of the commercial vehicle market as evidenced by Hino’s spectacular sales performance in 2014 made the corporate transition of PHI to HMP very timely,” said Salcedo.
HMP is looking to improve production figures from 150 trucks/buses every month to 350 units per month. Other significant developments in the pipeline include revitalized direct marketing operations (increasing its current 15 full-line dealers in the country) and strengthened “One Stop Shop” operations with its own Body Manufacturing and Maintenance Shop located in its facility in Canlubang, Laguna.
“These and more can be expected to commence as part of our growth strategies. We are also in the process of developing a more robust five-year plan,” added Mills.
Prior to the new joint venture, PHI was able to record a 20-percent market share in January to July 2015, a 6-percent growth year-over-year.
Pictured above (from left): Mario Regala (VP-manufacturing), Felipe Barroga (VP-comptroller), Koji Ota (assistant to the president/ director/VP-marketing), Vicente Mills, Jr., (chairman/director), Hiroshi Aoki (president/director), Augusto Salcedo (VP-general sales manager), and Susumu Myokan (VP treasurer/director).