Japanese bus makers eye tie-up

TOKYO: Japan's Nissan Diesel Motor Co. and Mitsubishi Fuso Truck and Bus Corp. said Monday they had agreed to explore a merger of their bus manufacturing operations amid a weak market.

The two firms aim to integrate their planning, research and development, production and sales in the bus industry under a joint venture company.

The two makers already have a partnership under which they supply certain types of buses and coaches to each other.

Germany's Daimler AG has an 85-percent stake in Mitsubishi Fuso Truck and Bus while Nissan Diesel Motor is fully owned by Swedish truck maker Volvo.