The seventh-generation Dyna was placed on the market in May 1999. The models for this generation were jointly developed with Hino Motors, with the result that the Dyna and the Hino Dutro became twins. The models with over two tons of payload capacity were supplied by Hino under an OEM arrangement. Five newly developed diesel engines were adopted to reduce emission and fuel consumption, while also improving driving performance. The exterior design was made less intimidating so the vehicle blended well with urban scenes. Basic body variations included a cargo truck, a dump truck, and a route van, and the body of the route van was redesigned for the first time in three model generations.

In June 2000, the gasoline and LPG models were also fully redesigned.