Mitsubishi Heavy Industries Engine & Turbocharger, Ltd.
Launches Operations
Core Part of the M-FET Group under its new banner of "Logistics & Energy"

The engine side of the business is targeting expanded sales in the distributed power generation market and diesel business, while the turbocharger business will look to increase orders by honing its technological strength, raising profitability through improved cost competitiveness, and creating and strengthening a global production structure.

With the launch of MHIET today, the M-FET Group is now officially a unified Group under the new banner of "Logistics & Energy". In addition to marketing existing stand-alone products, the Group will leverage the strengths of these individual products to develop solutions businesses, and find new business opportunities by leveraging fresh approaches and perspectives.

The controlling company M-FET covers three business areas for Mitsubishi Heavy Industries: material handling equipment, engines and turbochargers. The company was inaugurated in March this year to strengthen competitiveness through integrated and flexible operations. A new Group company structure has been established over the succeeding months first with the materials handling equipment business joining the Group in April, followed by MHIET today, which covers the engine and turbocharger businesses. The goal is to improve agility in decision-making and operational efficiency by giving the company more independence. Furthermore, through the integration and combination of the three businesses, MHI hopes to strengthen manufacturing capability, generate synergy benefits, streamline its organization and explore new fields as ways of expanding scale.

As a core component of the MHI Group in terms of scale and profit, M-FET will pursue overall controlling company net sales reaching 1 trillion yen through scale expansion and exploration of new fields as a result of the synergy benefits of combining the three businesses.

On the occasion of the inauguration of the new company, MHIET President and CEO Yoshiyuki Hanasawa commented:
"By leveraging synergies between engines and turbochargers, we will build closer relationships with customers by further strengthening product development and technology capabilities, and providing distributed energy solutions. We will build a flexible company that is active on a global scale."

M-FET President and CEO Atsushi Maekawa made the following statement:
"Following on from the forklift business which was placed within the Group in April this year, the M-FET Group has officially started full operations with today's inauguration of MHIET. Our commitment is once again renewed and as an independent company 100% owned by MHI, the M-FET Group will work as one to contribute to both sales and profits, taking bold initiatives that place the utmost importance on customer satisfaction."