Press Information

Mitsubishi Logisnext Co., Ltd. Begins Operations
-- New Company to Pursue Synergies from Merger of Two M-FET Group Material Handling Machinery Companies --

Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings, Ltd.
Mitsubishi Logisnext Co., Ltd.

Tokyo, October 2, 2017 - Mitsubishi Logisnext Co., Ltd., a new company formed from the merger of two companies handling forklifts and other material handling machinery in the Mitsubishi Heavy Industries (MHI) Group under Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings (M-FET), began operations on 1 October. The new company, launched by integrating Mitsubishi Nichiyu Forklift Co., Ltd. with its consolidated subsidiary UniCarriers Corporation, will further accelerate post-merger integration (PMI) activities to quickly generate and realize merger synergies, aiming to be a world-class general material handling machinery manufacturer providing advanced logistics solutions worldwide.

The launch ceremony was held on 2 October, the day after the start of operations, at the new company's head office, the former head office of Mitsubishi Nichiyu Forklift Co., Ltd. (Nagaokakyo-city, Kyoto-pref.). The event was attended by MHI President Shunichi Miyanaga representing the MHI Group and M-FET President Atsushi Maekawa on behalf of and M-FET Group, as well as Chairman Hideaki Ninomiya and President Takashi Mikogami from the new company.

President Takashi Mikogami spoke about his ambitions, stating that "I want us to keep in mind the doctrine of 'Cool head, Clean hands, Warm heart,' and create a corporate culture based on the 'Three G Principles' (genba, genbutsu and genjitsu (real place, real thing and real activity)). I believe we will be a flexible and mighty company."

In response, MHI President Miyanaga promised that "The MHI Group will fully support the efforts of everyone as they transition from a forklift to logistics solutions business." He encouraged them to proactively utilize the Group's shared R&D base and technical capabilities, such as the Research & Development Center, and asserted that he expected the new firm would become "a leading company in the MHI Group."

Mitsubishi Logisnext is the third biggest company in the forklift industry, and the second biggest in the MHI Group. As part of the M-FET Group, the company will work to achieve its new medium-term management plan "Perfect Integration 2020," and further strengthen its unified business foundation.
Profile of the New Company (at October 1, 2017)
Name Mitsubishi Logisnext Co., Ltd.
Location 1-1, 2-Chome, Higashikotari, Nagaokakyo-shi, Kyoto-fu, Japan
Name and Title of Representative Takashi Mikogami, President and CEO
Capital Stock JPY 4,890,526,626
No. of Employees 10,600
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