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Under the combined pull of new energy transition and growth in overseas demand, pickup market sales grew steadily. Wholesale data from China Passenger Car Association (CPCA) shows (including exports), from January to June 2026, cumulative pickup sales in China reached 343,000 units, a year-on-year increase of 11.9%, among which exports were 188,000 units, up 34% year-on-year. The overseas sales share rose to 55%, becoming an important engine driving overall growth; cumulative new energy pickup sales reached 45,000 units, a slight increase of 8% year-on-year.
In terms of corporate performance, the top 10 pickup manufacturers in the first half of 2026 showed distinct differentiation. Great Wall Motor sold a total of 92,512 pickups, a slight year-on-year decline of 3.9%, but remained number one in the industry. SAIC Maxus accumulated 36,804 units, up 28.1% year-on-year, rising from third place last year to second. Changan Automobile totaled 35,734 units, up 43.9% year-on-year, ranking rising to third in the industry. JAC and Zhengzhou Nissan had similar sales volumes, ranking fourth and fifth respectively. Among them, Zhengzhou Nissan led the top ten industry enterprises with a 51% year-on-year increase.
JMC ranked sixth with 28,704 units, and Foton ranked seventh with 23,288 units; BYD sales were 20,037 units, ranking eighth; Radar New Energy sales were 11,111 units, up 40.5% year-on-year, surpassing Jiangxi Isuzu to take ninth and tenth seats respectively.
Compared to the list from the same period last year, market positions showed significant adjustments. Companies that expanded overseas early and had complete new energy products achieved rapid growth. Brands focusing mainly on the domestic fuel market and with lagging transformation progress faced sales pressure. The pickup industry competitive landscape is undergoing a structural adjustment.
In the first half of 2026, pickup wholesale sales in China generally rose. As the industry leader, Great Wall Motor sold a total of 92,512 pickups in the first half. Despite a 3.9% year-on-year decline, it still ranks first in the industry with absolute advantage. As a leading domestic pickup brand, Great Wall Motor relies on a full series product layout in the 70,000-300,000 price range, advancing together in commercial, passenger, off-road, new energy, and export fields, building a systemic advantage.
SAIC Maxus, ranked second, sold a total of 36,804 pickups in the first half, up 28.1% year-on-year, rising from third place in the industry last year to second. The continuous expansion of export advantages was key to SAIC Maxus's ranking leap. In May, the pickup export scale reached first place in the industry. The monthly sales in June reached 7,871 units, up 83% year-on-year, leading the growth speed in the domestic pickup sub-sectors.
Changan Automobile's market performance was equally bright. Cumulative pickup sales in the first half reached 35,734 units, up 43.9% year-on-year, jumping from sixth place in the industry last year to third. In March, Changan pickup monthly sales exceeded 10,000 units, up 112.4% year-on-year; June sales reached 6,595 units, up 42.7%. The launch of new products such as Changan Hunter K50, combined with continuous expansion of the export market, jointly drove the rebound of Changan pickups.
JAC Pickup, ranked fourth, sold 33,188 units in the first half, a slight increase of 0.8% year-on-year. Long-term deep dive into agriculture, forestry, engineering, and commercial sub-sectors, stable existing customers, but new energy model iteration speed is relatively slow, insufficient new volume support, exiting the top three in the industry.
Zhengzhou Nissan ranks fifth in the industry. Sales were 32,987 units in the first half, up 51% year-on-year. The brand concurrently advanced off-road, new energy, and internationalization layouts. Updated King Ray and Navara fuel models within the year; launched Fengtian plug-in hybrid and Ruiqi pure electric pickups to perfect the power matrix; new energy model sales increase was prominent, Fengtian series went overseas in batches and secured orders from multiple South American countries. Products and overseas channels jointly drove sales growth.
JMC sold 28,704 pickups in the first half, up 1.0% year-on-year. Ranking dropped from fourth place last year to sixth. In the first half, JMC launched two core models: the brand new Baodian and Dadao. But it did not reverse the market landscape. The brand new Baodian faces intense price competition in the commercial tool vehicle market; although the Dadao series saw obvious product capability upgrades, the launch time was late, combined with poor export performance, overall sales faced pressure.
Foton Motor sold 23,288 pickups in the first half, up 21.6% year-on-year, ranking seventh. Exports became the main driver of Foton pickup growth. Public data shows that from January to May 2026, pickup exports exceeded 15,000 units, growing rapidly year-on-year, focusing on deepening regional markets such as Latin America, Africa, and Oceania.
BYD sold 20,037 pickups in the first half, down 25.8% year-on-year. Ranking dropped from fifth place last year to eighth. As a new entrant in the pickup industry, BYD previously relied mainly on overseas exports to drive sales, but since 2026, competition in export markets has intensified. Combined with its "Shark" pickup not yet scaling up domestically, overall sales faced pressure. However, from a new energy dimension, BYD remains an important force in the pickup market. In June, new energy pickup overseas sales reached 4,000 units, maintaining leadership in the new energy pickup sub-sector.
Radar New Energy, under Geely, sold 11,111 pickups in the first half, up 40.5% year-on-year, surpassing Jiangxi Isuzu to rise to ninth place in the industry. This year, Geely Radar launched the King Kong EV pure electric pickup, supplying nationwide markets for commercial scenarios such as agriculture, forestry, and urban-rural distribution. It simultaneously laid out Thailand and Philippines overseas markets, achieving continuous rise in sub-sector market share.
Jiangxi Isuzu sold 11,008 pickups in the first half, a slight decrease of 0.8% year-on-year, falling back to tenth place in the industry. Jiangxi Isuzu relies on diesel hard-core pickups to stabilize engineering and off-road fixed customers, but development has multiple constraints: vehicle iteration update rhythm is relatively slow, new energy model implementation progress lags behind peers, meanwhile product pricing lacks competitiveness, lacking effective volume support, overall growth space is hard to open.
Di bawah tolakan bersama transformasi tenaga baru dan pertumbuhan permintaan luar negara, jualan pasaran Pickup meningkat secara stabil. Data borong yang dipaparkan oleh Bahagian Pembindahan Persatuan Pengedaran Kenderaan China (termasuk eksport) menunjukkan (Januari - Jun 2026), jumlah kumulatif jualan Pickup di negara kita sebanyak 343,000 buah, meningkat 11.9% secara tahunan, di mana eksport sebanyak 188,000 buah, meningkat 34%, nisbah jualan luar negara meningkat ke 55%, telah menjadi enjin penting menarik pertumbuhan pasaran keseluruhan; jualan kumulatif Pickup Tenaga Baru sebanyak 45,000 buah, meningkat sedikit 8% secara tahunan.
Dari segi prestasi perusahaan, Top 10 pengeluar jualan Pickup Semi Tahun 2026 mempunyai ciri pembezaan yang ketara. Great Wall Motor累计销售 Pickup 92,512 buah, menurun sedikit 3.9% secara tahunan, kekal berada di posisi pertama industri; SAIC MAXUS累计销售 36,804 buah, meningkat 28.1%, dari posisi ketiga tempoh sama tahun lalu naik ke posisi kedua; Changan累计销售 35,734 buah, meningkat 43.9%, posisi naik ke ketiga industri; JAC, Nissan Zhengzhou isi padu jualan hampir sama, menempati keempat, kelima, di mana Nissan Zhengzhou dengan peningkatan tahunan 51% memimpin sepuluh syarikat industri.
JMC menjual Pickup 28,704 buah menempati keenam, Foton 23,288 buah ketujuh; jualan BYD 20,037 buah kedelapan; Radar Tenaga Baru 11,111 buah meningkat 40.5%, lampaui Jiangxi Isuzu masing-masing menduduki kesembilan, kesepuluh.
Dibandingkan dengan senarai tempoh yang sama tahun lalu, posisi pasaran menunjukkan penyesuaian jelas, layout eksport awal, produk tenaga baru lengkap perusahaan mencapai pertumbuhan cepat, fokus ke pasaran minyak domestik, jalan transformasi lambat brand jualan tertekan, struktur persaingan industri Pickup menghadapi penyesuaian struktur.
Semi Tahun 2026, jualan borong Pickup negara kita secara keseluruhan meningkat. Great Wall Pickup sebagai pemimpin industri, Semi Tahun 累计销售 Pickup 92,512 buah, meskipun menurun 3.9% secara tahunan, dengan kelebihan mutlak kekal di posisi pertama industri. Sebagai jenama terkemuka Pickup domestik, Great Wall Pickup bersandar layout harga semua siri produk 70,000-300,000 RMB, di perniagaan, penumpang, off-road, tenaga baru dan eksport bergerak seiring, membina kelebihan sistem.
Posisi kedua SAIC MAXUS, Semi Tahun 累计销售 Pickup 36,804 buah, meningkat 28.1%, dari posisi ketiga industri tempoh sama tahun lalu naik ke kedua. Kelebihan eksport berkembang berterusan adalah kunci lonjakan posisi SAIC MAXUS, skala eksort Pickup Mei mencapai posisi pertama industri. Jualan sebulan Jun 7,871 buah, meningkat 83%, kelajuan pertumbuhan memimpin segmen khusus Pickup domestik.
Prestasi pasaran Changan juga cemerlang, Semi Tahun 累计销售 Pickup 35,734 buah, meningkat 43.9%, posisi dari posisi keenam industri tempoh sama tahun lalu naik ke ketiga. Jualan sebulan Mac Changan Pickup mengatasi 10,000 buah, meningkat 112.4%; jualan Jun 6,595 buah, meningkat 42.7%. Pelancaran produk baharu seperti Changan Hunter K50, digabungkan dengan pengembangan berterusan pasaran eksport, sama-sama mendorong pemulihan jualan Changan Pickup.
Posisi keempat JAC Pickup Semi Tahun 33,188 buah, meningkat sedikit 0.8% tahunan, menanamkan diri mendalam dalam segmen khusus pertanian, kehutanan, kejuruteraan perniagaan, pelanggan sedia ada stabil, namun kelajuan pengulangan model tenaga baru agak perlahan, sokongan peningkatan baharu tidak mencukupi, keluar dari tiga teratas industri.
Nissan Zhengzhou posisi kelima industri, Semi Tahun 32,987 buah, meningkat 51%. Jenama memajukan secara serentak off-road, tenaga baru, layout antarabangsa, dalam tahun kemas kini Jinruiqi, Navara jenis minyak, melancarkan Fengtan Hybrid Plug-in, Ruiqi elektrik Pickup melengkapi matriks kuasa; jualan model tenaga baru kadar kenaikan mencolok, siri Fengtan eksport kuantiti besar dan mendapatkan tempahan pelbagai negara Amerika Selatan, produk dan saluran luar negara bersama-sama menarik peningkatan jualan.
JMC Semi Tahun 28,704 buah, meningkat 1.0%, posisi dari posisi keempat industri tempoh sama tahun lalu turun ke keenam. JMC Semi Tahun sekali keluar Baodian, Dadai dua model teras, namun tidak membalikkan corak pasaran. Baodian Baru menghadapi persaingan harga dalam pasaran kereta alat perkakas perniagaan; Dadai siri walaupun kuasa produk jelas naik, namun masa keluaran agak lewat, digabungkan prestasi eksport tidak baik, jualan keseluruhan tertekan.
Foton Semi Tahun 23,288 buah, meningkat 21.6%, posisi ketujuh. Eksport menjadi pemacu utama pertumbuhan Foton Pickup, data awam menunjukkan, Januari - Mei 2026 eksport Pickup melebihi 15,000 buah, meningkat pesat secara tahunan, fokus mendalam pasaran rantau Amerika Latin, Afrika, Oceania.
BYD Semi Tahun 20,037 buah, menurun 25.8%, posisi dari posisi kelima industri tempoh sama tahun lalu jatuh ke kelapan. Sebagai pemasuk baharu industri Pickup, BYD sebelum ini terutama bergantung eksport luar negara menarik jualan, namun sejak 2026 persaingan pasaran eksport semakin sengit, digabungkan "Hiiu" Pickup belum dikeluarkan dalam skala besar domestik, menyebabkan jualan keseluruhan tertekan. Namun dari dimensi tenaga baru, BYD tetap kekuatan penting pasaran Pickup, jualan luar negara Pickup Tenaga Baru Jun 4,000 buah, kekal kepimpinan dalam bidang khusus Pickup Tenaga Baru.
Di bawah Geely Radar Kenderaan Listrik, Semi Tahun 11,111 buah, meningkat 40.5%, lampaui Jiangxi Isuzu naik ke kesembilan industri. Tahun ini, Geely Radar melancarkan Jingkang EV Pickup Elektrik, untuk senario perniagaan pertanian, bandar dan bandar luar, banyak tempat di seluruh negara penyebar, serentak layout Thailand, Filipina pasaran luar negara, mencapai bahagian pasaran khusus terus naik.
Jiangxi Isuzu Semi Tahun 11,008 buah, menurun sedikit 0.8%, jatuh ke kesepuluh industri. Jiangxi Isuzu bersandar pada Pickup Diesel Tegas mantapkan pelanggan tetap kejuruteraan, off-road, namun perkembangan ada sekatan pelbagai: kelajuan pengemaskinian kenderaan lengkap agak perlahan, kelajuan pelaksanaan model tenaga baru ketinggalan rakan, sekaligus harga produk kurang daya saing, kekurangan sokongan pertumbuhan berkesan, ruang pertumbuhan keseluruhan sukar dibuka.
On April 23, the 21st Shanghai International Automotive Industry Exhibition officially opened. On April 24, the Changan Pickup Global Development Plan and Changan Hunter K50 Launch Event, themed "Changan Hunter, Drive Smart, Travel the World", was officially held. The world's first super extended-range digital intelligence pickup - Changan Hunter K50, went on sale, becoming one of the first pickups to carry L2 combined driving assistance functions. Equipped with the electric pickup chassis most loved by RV users, it officially opens the era of digital intelligence pickups!
Changan Hunter K50 4WD All-Terrain Version, let the distance have no boundaries, official guide price 192,900 Yuan;
Changan Hunter K50 4WD All-Round Version, bring technology into daily life, official guide price 182,900 Yuan;
Order now, enjoy five major gifts. Car purchase enjoys 3,000 Yuan trade-in subsidy, non-operating first owners enjoy lifetime warranty for three-electric system and extended range system, 36-month 70,000 Yuan annual payment loan or 12-month 80,000 Yuan final payment loan, free basic data and 2GB monthly entertainment service data, order within specified time get one camping gift pack.
Changan Hunter refreshed simultaneously, full series products starting from 127,900 Yuan, new cars have arrived, welcome to visit the store for details.
Drive Smart, Travel the World, Changan Pickup and Global Users Advance Together into the Digital Intelligence Pickup Era
In 2024, the automotive industry welcomed the year of intelligence. After the "electrification" wave, "intelligence" is leading the "second half" of the automotive industry change.
Peng Tao, Executive Vice President of Changan Automobile, shared on-site the leap of the Changan Pickup brand, the launch of the digital intelligence logo, and the confidence and determination to start the new era of digital intelligence. He said that Changan Pickup will be a sub-category under Changan Automobile's digital intelligence new energy -- Changan Qiyuan, positioned as "Digital Intelligence Evolution New Pickup". Relying on the collaborative empowerment of Changan Automobile's "Shangri-La", "Haona Baichuan" and "Beidou Tianshu", it adheres to the new energy track, accelerates global layout, and promotes the popularization and application of intelligence. Changan Pickup aims to bring commercial and passenger dual-use travel solutions to global users, and more importantly, to walk into the digital intelligence pickup era together with global users, leaping towards beauty.
[Changan Automobile Executive Vice President Peng Tao]
Changan Pickup shares Changan Automobile's "Six Countries, Ten Locations" collaborative R&D and manufacturing system. With a global vision, it integrates the CA-PDS product development process system, CA-ITVS test verification system, CA-IMS intelligent manufacturing system, and CA-ORPS off-road performance system to comprehensively empower pickup business, deepen the global market, and continuously improve industrial value.
For future global planning, Huang Zhi, CEO of Changan Pickup, said that Changan Pickup has formulated the "12324" global development plan. In the next three years, 3~4 global pickup models will be launched successively, covering the full-size market of B/C/D classes. Based on the pickup platform, rugged PPV models will be developed in groups, providing products to meet the needs of global users, different ages, different prices, and different scenarios. It is committed to building the pickup with the most user value and building a world-class pickup. In 2030, Changan Pickup sales will exceed 500,000 vehicles.
[Changan Pickup CEO Huang Zhi]
Heaven and Earth Dual Power, Changan Hunter K50 Reshapes the New Experience of Digital Intelligence Pickup
Last March, Changan Pickup launched Changan Hunter, which won the first place in the new energy pickup single product sales ranking frequently and was honored with the "Most Anticipated Product Honor Award" in Thailand, becoming the leader of new energy pickups.
Based on upgraded user needs, the first heavy product of the "12324" Changan Pickup global development plan -- Changan Hunter K50, was launched. Positioned as the world's first super extended-range digital intelligence pickup, with "Hunter's Eye" hunter aesthetics design and "Heaven and Earth Dual Power" ground super extended range, it is fierce, fuel-saving, and powered. Cloud Tianshu good intelligence, with "Easy to use, Easy to drive, and Safe" as core highlights.
Changan Hunter K50, "Heaven and Earth Dual Power" of "Ground Super Extended Range", strengthens the value iron triangle of "Fierce, Fuel-saving, and Powered". Low speed fierce, dual motor drive, maximum power 200kW, maximum torque 470N·m; fast acceleration, start response 400ms, 0-100 acceleration 7.9 seconds; power is persistent and strong, engine maximum power 140kW, generator peak power 100kW.
Equipped with 31.18kWh Golden Bell cover battery, NEDC range 131km, pure electric travel is more money-saving, as low as 7 cents per kilometer; no need to add urea, do not fear freezing in winter, no self-cleaning required, convenient to use and save trouble. Full-time all-domain pure electric driving feel, intelligent electric four-wheel drive architecture, pickup driving is more smooth; industry's first 22kW super external discharge function, maximum reserve electricity 227kWh, breaking electricity usage boundaries.
Hunter K50 also upgraded "Cloud Tianshu Good Intelligence", achieving value breakthrough of "Easy to use, Easy to drive, and Safe". Industry's first global installation of Huawei HMS for CAR, including smart voice, Petal Maps, and app ecosystem. At the same time, developing AI voice large model jointly with Huawei, subsequent through OTA upgrade, making Hunter K50 common and new.
Hunter K50 is equipped with L2 combined driving assistance, especially for long-distance travel and RV users, improving driving safety. Battery pack five major safety cage protection, combined with non-load-bearing body and underbody armor, prevent bumps and scratches, water immersion corrosion. In Middle East, South America, Africa, Southeast Asia, CIS and other overseas different regions' 10+ representative countries, carry out strict verification for extreme cold, extreme heat special climate and high altitude, high corrosion special environments. Hunter K50 can withstand verification.
In terms of off-road capability, Changan Hunter not only supports 1.5-ton extreme loading capacity, but also upgrades 2.5-ton towing capacity. Approach angle 29°, departure angle 26°, unloaded ground clearance 220mm, wading depth 600mm, equipped with all-terrain AT off-road tires, combined with three locks and ten driving modes, reaching exploration-grade off-road capability, novices can also easily go off-road.
For night travel scenarios, Hunter K50 is equipped with "Hunter's Eye" smart lighting system, domestic unique factory-installed 4 roof lights, including 2 high beams and 2 camping lights, meeting all-scenario outdoor lighting needs.
In terms of styling, Hunter Eye lighting, shark face front, dual screen, AT tires, olive green body color, heatwave orange interior, Hunter-style aesthetics design brings strong visual impact, unforgettable.
Changan Hunter constantly evolves with itself, jointly created with users living cars, camping cars, plant protection drone operation vehicles and other characteristic models, cooperated with Huawei, DJI, China Academy of Art and other ecosystems, co-created infinite possibilities with users. This year Q4, new Hunter co-created with users will be launched for sale.
With Changan Hunter K50 launch as an opportunity, Changan Pickup bases on "Digital Intelligence Evolution New Pickup", promotes pickup towards industry new height, provides digital intelligence pickup "China Solution" for global users.
Owl Auto News (ID:owlauto) reported that recently, Geely Auto issued an announcement, stating an investment of approximately 218 million yuan to fully acquire Radar Auto (Shandong) Co., Ltd., Radar Auto Sales Co., Ltd., and the Thailand distribution company Radar Thailand. Among them, Zhejiang Jirun acquired 100% equity of Radar Auto (Shandong) for 159 million yuan, Geely Sales acquired all equity of Radar Auto Sales for 59 million yuan, and CIL and GAIL under Geely acquired all share capital of Radar Thailand totaling 490,000 yuan. After the transaction, the three companies officially became wholly-owned subsidiaries of Geely Auto, with financial performance merged into the listed company's reports, marking the formal transfer of Radar Auto from the Geely Holdings system to the unified control of the Geely Auto listed company.
It is reported that the three targets form the complete chain of the Radar brand from R&D and manufacturing to sales and distribution. Specifically, Radar Auto (Shandong) is the core operating entity of the brand, specializing in R&D and manufacturing of mid-to-high-end new energy pickups, with production bases located at Zibo Zichuan Smart Factory; Radar Auto Sales is responsible for domestic sales system operation and dealer layout; Radar Thailand was established in Thailand in July 2024, it is Radar's first independently operated overseas subsidiary, focusing on distribution in the Thai and Southeast Asian markets.
In terms of performance, the three companies showed significant divergence in 2025. Radar Auto (Shandong) turned from profit to loss, with a net loss of 8.646 million yuan, compared to a profit of 67.743 million yuan in the same period last year; Radar Auto Sales turned loss to profit, with net profit of 12.325 million yuan, compared to a loss of 118 million yuan in the same period last year; Radar Thailand expanded losses, with a net loss of 10.697 million yuan. Despite this, Radar Auto's full-year sales in 2025 still reached 13,040 units, achieving year-on-year growth, ranking high in market share in the domestic new energy pickup market. At the March 2026 Bangkok International Motor Show, Radar King Kong EV received 2,569 orders, a year-on-year increase of 283%.
For Geely, this integration is a key layout to cope with intense industry competition. Radar can share Geely's R&D system, Geely Thunder EM-P super electric hybrid technology, supply chain and manufacturing bases, effectively reducing costs; Geely can coordinate multi-brand planning, avoid internal competition, while integrating Radar's domestic and international full-channel resources, leveraging the opportunities in the new energy pickup sector, further perfecting its global new energy vehicle landscape. As for whether this acquisition will ultimately bring good results to Geely as expected, it will take time to give an answer.
In April 2026, the Thailand automotive market presented an extreme polarization pattern: total new car sales 48,394 units, year-on-year growth 2.54%, pure electric vehicle sales surged 90.61%, SUV year-on-year growth 23.91%, but one-ton pickup sales were only 9,950 units, plummeting 29.7% from March, down 5.84% year-on-year, becoming the only core sub-segment with negative growth. Thus, January-April 2026 Thailand pickup cumulative sales 48,802 units, the decline compared to the same period last year widened further, the annual target of 171,000 units (2024 new low) predicted by ttb analytics was precarious, actual sales are highly likely to drop below 165,000 units.
Although the duopoly structure has not shaken, the 'precipitous' drop of top models is no longer in doubt. Toyota Hilux Travo/Revo April sales 5,104 units, down 27.1% from previous month, January-April cumulative 23,098 units, market share slightly rose to 51.3%; Isuzu D-MAX followed closely, April sales 3,469 units, plummeted 25.2% from previous month, cumulative 17,760 units, market share 34.9%. The two Japanese brands combined still accounted for 86.2% of the share, but the significant shrinkage in absolute sales indicates that even top products with the most complete dealer networks and highest residual values cannot withstand systemic risks.
The rest of the traditional fuel brands suffered a complete defeat: Ford Ranger nearly halved month-on-month, Mitsubishi Triton plummeted 63.7%, Nissan Navara has basically withdrawn from mainstream competition.
Chinese brand performance showed significant divergence. Pure electric pickup leader Geely Radar RD6 April sales 85 units, down 24.8% month-on-month, but the drop was far smaller than most fuel models, January-April cumulative 327 units, continued to hold the top spot among Chinese brands and the first place in the pure electric pickup sub-market. Great Wall Cannon Sahar became one of the few models growing against the trend, April sales 34 units, surged 142.9% month-on-month, but the base was extremely low and scale has not yet formed. Other Chinese brands continued to face pressure: Foton e-Tunland down 61.5% month-on-month, MG Extender plummeted 71.4%.
This divergence between pickups and the overall Thailand car market is essentially the conflict between production tool attributes and consumption upgrade trends, compounded by multiple policy and economic shocks:
Final Thoughts: Looking forward, the turning point for the Thailand pickup market has yet to appear, the golden age of traditional diesel pickups has ended. Low-carbon transformation has become the only way out for the industry, and Chinese new energy pickups represented by Radar RD6, with differentiated product positioning and technical advantages, are expected to seize the initiative during the market restructuring process, becoming a key force to break the long-term Japanese monopoly structure.
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