Press Information
Mitsubishi Nichiyu Forklift to Merge Operations with UniCarriers
-- Targets Set for PMI Acceleration and Enhanced Business Efficiency --
-- Targets Set for PMI Acceleration and Enhanced Business Efficiency --
Tokyo, September 29, 2016 - Today Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings, LTD. (M-FET: Kawasaki, Kanagawa), a controlling company wholly owned by MHI, formally began preparations to merge the operations of Mitsubishi Nichiyu Forklift Co., Ltd. (Nagaokakyo, Kyoto) and UniCarriers Corporation (Kawasaki, Kanagawa).
In addition, M-FET will request conversion of part of the Class A stock in Mitsubishi Nichiyu Forklift (owned by M-FET) to common shares, thus raising its stake in Mitsubishi Nichiyu Forklift from 49.4% to 51%.
Meanwhile, preparations got under way toward merging the operations of Mitsubishi Nichiyu Forklift and UniCarriers, with a target date of October 2017. By accelerating post-merger integration (PMI), this move aims to improve business efficiency.
MHI established M-FET in March 2016 as an independently managed company. The new entity engages in the material handling equipment business, with a focus on forklift trucks. Through integrated and flexible operations M-FET is now striving to create synergies, streamline its organization, break into new fields, and achieve business scale expansion and enhanced earning capacity. The new measures were reached to further accelerate initiatives of these kinds, realize maximum business synergies, and promote the interests of all stakeholders, including customers, sales networks and employees.
MHI is presently pursuing a strategy designed to secure the position of No.3 player in the forklift truck industry worldwide. In line with this strategy the Company is supporting the material handling equipment business in various ways. By raising M-FET's stake in Mitsubishi Nichiyu Forklift to 51%, MHI is looking to more effectively leverage the wide-ranging capabilities of the MHI Group and, by clarifying M-FET's consolidated management responsibilities, will promote the development of the material handling equipment business as a Group.
With MHI's all-round support, the M-FET Group will enthusiastically pursue the integration of Logistics and Energy.
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About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.