Operations to Launch at Mitsubishi Nichiyu Forklift Co., Ltd., E

Operations to Launch at Mitsubishi Nichiyu Forklift Co., Ltd., Entity
Integrating the Forklift Truck Businesses of MHI and Nippon Yusoki 
Tokyo, Mar 29, 2013 - (JCN Newswire) -  Effective April 1 Mitsubishi Nichiyu
Forklift Co., Ltd., a company integrating the forklift truck operations of
Mitsubishi Heavy Industries, Ltd. (MHI) and Nippon Yusoki Co., Ltd. (Nichiyu),
will be launched and commence business operations. Through the integration of
MHI and Nichiyu's forklift businesses, the new entity will target the
configuration of an agile and resilient business structure enabling swift
response to the rapidly changing global forklift truck market. And through
acceleration of initiatives in global business expansion, the new entity aims
to compete successfully in the rapidly changing competitive global markets. 
The new entity is formed through a spin-off of MHI's forklift truck
business and integrated into Nichiyu. Launching under a new corporate name, the
new entity is capitalized at 4.89 billion yen. Its headquarters is located in
Nagaokakyo City in Kyoto Prefecture, where Nichiyu's head office is
situated. Its operations will get under way with approximately 5,000 employees.
Hideaki Ninomiya, current president of Nichiyu, will be the first president of
the new entity. 
Through the integration of MHI and Nichiyu's forklift businesses, the new
entity is now positioned to pursue an enhanced product lineup, which was
limited under the earlier partial collaborative arrangement between the two
companies. Other targets include sharing and optimization of sales routes,
efficient development of products matching market needs, and optimization of
raw material procurement and production. In addition to the technological
capabilities, marketing skills and strong service network for forklifts and
other logistics equipment cultivated by Nichiyu throughout its history, the new
entity will benefit from MHI's comprehensive group capabilities. Together,
these will form the base for the new entity to pursue greater global
competitive strength. 
By integrating the development technologies of MHI and Nichiyu and pursuing
expansion into new business areas, Mitsubishi Nichiyu Forklift Co., Ltd is
poised to achieve unprecedented speed in strengthening business operations and
developing growth areas. The immediate target is to grow and become a member of
the third largest group of companies in the forklift truck business, and
ultimately become a leading company in this business on global scale. 
About Mitsubishi Heavy Industries 
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one
of the world's leading heavy machinery manufacturers, with consolidated
sales of 2,820.9 billion yen in fiscal 2011, the year ended March 31, 2012.
MHI's diverse lineup of products and services encompasses shipbuilding,
power plants, chemical plants, environmental equipment, steel structures,
industrial and general machinery, aircraft, space rocketry and air-conditioning
systems. For more information, please visit the MHI website at www.mhi.co.jp. 
Mitsubishi Heavy Industries
Hideo Ikuno
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