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M-FET Raises Stake in Mitsubishi Nichiyu Forklift to 51% and Makes UniCarriers a Wholly Owned Group Company

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Tokyo, January 5, 2017 - Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings, Ltd. (M-FET) raised its stake in Mitsubishi Nichiyu Forklift Co., Ltd. to 51% on January 1. At the same time, it transferred its 65% stake in UniCarriers to Mitsubishi Nichiyu Forklift, making UniCarriers a wholly owned group company of Mitsubishi Nichiyu Forklift. These moves are intended to further improve business efficiency by accelerating post-merger integration (PMI) in the logistics equipment business, with a focus on forklift trucks. M-FET is wholly owned by Mitsubishi Heavy Industries, Ltd. (MHI).

The newly implemented measures will further strengthen M-FET's efforts to merge the operations of Mitsubishi Nichiyu Forklift and UniCarriers, creating synergies and reaping results at an early stage. Going forward, M-FET's seeks to fully merge the operations of the two companies by October 2017, with the goal of becoming the world's leading manufacturer of logistics equipment.

MHI established M-FET in March 2016 as an independently managed company. Its business areas include logistics systems, engines, power generators, co-generation systems, and turbochargers. Through integrated and flexible operations M-FET is striving to create synergies, streamline its organization, and break into new fields as a way to expand business scale and enhance earning capacity.

With the support of the wider MHI Group, M-FET will now pursue further PMI measures and will aim for greater competitiveness in the global market through the integration of logistics and energy system operations.
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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.

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