Mitsubishi Fuso and DaimlerChrysler Financial Services successfully establish FUSO Financial in Japan

Tokyo/Berlin – Mitsubishi Fuso Truck & Bus Corporation (MFTBC), one of Asia’s leading commercial vehicle manufacturers, and DaimlerChrysler Financial Services, the world’s largest financer of commercial vehicles, today announced the successful conclusion of the first business year of FUSO Financial, the financial services business for Fuso commercial vehicles in Japan.

One year after the roll-out of FUSO Financial-services to Fuso dealers in Japan, the contract volume of the new business unit amounts to 100 million Euros. The roll-out to the whole Fuso network of 262 sales outlets in Japan was finished in September 2006. The potential midterm portfolio for FUSO Financial is expected to reach one billion Euro.

“FUSO Financial is now an integral part of the Fuso operations in Japan,” said Masayuki Nagano, Member of the Board of Management and Corporate General Manager of Sales and Service Domestic at Mitsubishi Fuso Truck & Bus Corporation, at a press conference in Tokyo. “With joint product development, joint marketing activities and an integrated customer relationship management we take a big step forward in becoming ‘the most reliable company’ for our customers and business partners – not only in terms of quality, but also in financial services.”

With the establishment of the FUSO Financial business unit DaimlerChrysler Financial Services now offers the full product portfolio including financing, leasing and insurance services for all DaimlerChrysler brands in Japan. With a portfolio of 1.8 billion Euros and 90,000 vehicles in 2006, Japan is one of the top 10 markets of DaimlerChrysler Financial Services worldwide and the largest market in the Asia/Pacific region.

“As the world’s largest truck financer we can bring our global expertise to the Japanese commercial vehicle market to add value for our Fuso dealers and customers,” said Jürgen Walker, Chairman of the Board of Management of DaimlerChrysler Financial Services. “Today, 35 percent of all Fuso vehicles are financed or leased via different financial services companies. Compared to other markets – where DaimlerChrysler Financial Services alone has penetration rates of 50 percent – we see great market potential in Japan.”

Mitsubishi Fuso and DaimlerChrysler Financial Services also announced the start of a new full service leasing product for all Fuso customers in Japan. The new product “FUSO Maintenance Lease” will integrate vehicle leasing and maintenance services into a fixed monthly rate. Many customers ask for a ‘One-stop-shopping solution’ with a fixed cost base for their vehicle. With “FUSO Maintenance Lease” FUSO Financial now offers a competitive product bundle that was designed along the needs of the customers. The maintenance lease is based on the experiences of DaimlerChrysler Financial Services with full service products from other markets like Europe or North America. The nationwide roll-out has started already.

“After 15 years of successful business in Japan with DaimlerChrysler passenger vehicles we have all the necessary market know-how to become a leading commercial vehicle financer here, too,” said Tilo Schmid-Sehl, President and Representative Director of DaimlerChrysler Financial Services Japan Co., Ltd. “With our extended financial services portfolio for Fuso customers and dealers, FUSO Financial will strongly support the sales of Fuso trucks and buses in Japan.”

About Mitsubishi Fuso Truck & Bus Corporation

Based in Kawasaki, Japan, Mitsubishi Fuso Truck & Bus Corporation (MFTBC) is one of Asia’s leading commercial vehicle manufacturers. In 2006, the company sold a total of 186,600 vehicles including light-, medium- and heavy-duty trucks and buses. DaimlerChrysler AG owns 85% of MFTBC shares. The remaining 15% of shares are held by various Mitsubishi group companies. MFTBC is an integral part of DaimlerChrysler’s Truck Group.

Further information about Mitsubishi Fuso Truck & Bus Corporation (MFTBC) is available on the internet: http://www.mitsubishi-fuso.com