FY2020 Financial Results Briefing(FY2020:From April 1, 2020 to March 31, 2021)

May 27, 2021
MITSUBISHI LOGISNEXT CO., LTD.
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2020 Financial Results(FY2020:From April 1, 2020 to March 31, 2021)

President and CEO, Takashi Kubo

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

1. FY2020 Summary
Economic Market Trends➢ The global economy is on a gradual recovery trend due to the lifting of lockdowns in Europe
and the United States and deregulation in the Asian region, including China, which wasamong the first to return to normal economic activity.
➢ However, the situation is expected to remain unpredictable because of the outbreak of newvariants of COVID-19 and the implementation of temporary suspension and re-lockdown of
economic recovery measures due to the re-spreading of the infection.

➢ In the material handling equipment market, demand for forklift trucks showed a recovery
trend from around September, mainly in Europe and the United States, and recovered to thelevel of the same period of the previous year in some regions and months. In Japan, demand
for forklift trucks recovered to nearly the same level as the same period of the previous year
in the fourth quarter, although there was a delay compared to Europe and the United States.

Summary of FY2020 Results➢ Net sales decreased 12.8% YoY. Although the order status of sales recovered from theimprovement of the economic environment, it did not contribute to sales due to lead time.
➢ Operating profit decreased 40.0% YoY (before amortization of goodwill, etc.). Despite
continued efforts to reduce fixed costs, it was not enough to offset the decrease in grossprofit due to the decline in sales.

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

3

2. Financial Highlights
Unit: Hundred million JPY

Profit and Loss
Statement
Net Sales

FY2019FY20204,489.2

Operating Profit

3,915.0△574.2△12.8％（4.1％）（2.8％）

109.9

△73.4

△40.0％

Amortization of
Goodwill

98.9

93.9

―

―

Operating Profit

84.4（1.9％）

15.9（0.4％）△68.4△81.1％

70.5

20.1

△50.3

△71.4％――(Before amortization of goodwill, etc.)(Operating profit margin)(Operating profit margin)

Ordinary Profit(Ordinary profit margin)

Profit Attributable to
Owners of Parent(Net income margin)

183.3

YOY Change（1.6％）（0.5％）

△52.4

△26.8

（△1.2％）（△0.7％）FY2019 actual FX rates: USD = JPY108.74, EUR = JPY120.82, CNY = JPY15.60
FY2020 actual FX rates: USD = JPY106.06, EUR = JPY123.70, CNY = JPY15.67

Balance SheetFY2019FY2020YOY Change

Total Assets

3,736

3,635

△101

△2.7％

Total Liabilities

3,163

3,080

△84

△2.6％

573

555

△18

△3.1％

Net Assets© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

4

3. Business Results by Segment
Net Sale: Domestic sales and exports are on the road to recovery. Overseas sales declined despitea recovery trend.
FY2020 Sales by Region

Net Sales

Unit:
Hundred million JPY

Domestic Business

5,000

Overseas Business

4,489

3,915

4,000

(17%)

2,699

3,000

2,230

2,000
1,000

China
& AsiaEurope 6%
17% (7%)

1,790

1,685

FY2019FY2020Americas
34%

Japan
43%
(40%)

(36%)

0
() = previous year

Operating Profit*

Operating profit (*) : Despite efforts to reduce fixed costs in all regions, this was not enough tooffset the decline in gross profit due to lower sales.
Unit:
Hundred million JPY

Domestic Business

200.0
150.0

Overseas Business

183.3
98.8

100.0
50.0

FY2020 Operating Profit by Segment

109.9
53.2

84.4

Overseas
Business
48.4%(54.0%)

Domestic
Business
51.6%(46.0%)

56.6

0.0* Operating Profit before amortization of goodwill, etc.

FY2019© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2020() = previous year5

4. Sales by Region
Japan

Americas(Unit: Hundred million JPY)

2,000

(Unit: Hundred million JPY)

1,790.4

1,500

1,684.8

2,000

877.3

889.4

807.3

500

0
FY20201H

648.9

FY2019FY2020
1H

759.7

661.8

377.3

364.2

382.3

297.4

0

2H

China and Asia

(Unit: Hundred million JPY)

400

400
200

636.1

2H

Europe(Unit: Hundred million JPY)

600

696.9

0
FY2019

800

992.6

1,000

500

1,346.0

1,500

900.8

1,000

1,000

1,628.9

310.0

300
200
100

222.2

147.1

121.6
162.7

100.5

0
FY2019FY2020
1H

2H© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2019FY20201H

2H

6

5. Net Sales FY2019 vs FY2020
Although the resumption of economic activity in the 2nd half of the fiscal year led
to a recovery in the orders, it was not enough to contribute to sales due to the leadtime, and net sales declined by 12.8% YoY.
※Excluding the impact of EQD consolidation, net sales decreased by 15.0% YoY.
(Unit: Hundred million JPY)

FX
impact

Japan

▲23.5

▲102.1

Americas▲346.8

EQD(Apr.-Jun.)

EuropeChina & Asia

98.6

▲113.8

▲86.6

4,489

3,915

Decrease by
57.4 BJPY（△12.8%）FY2019© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY20207

6. Operating Profit FY2019 vs FY2020
Operating profit declined by 40.0% YoY as the decrease in gross profit from lower
sales was not fully offset by countermeasures such as reducing fixed costs.

Amortizationof goodwill, etc.

Gross profit
decreasedue to sales
decrease/Mix

Operating profit decreasedby 7.34 BJPY (△40.0%)(Unit: Hundred million JPY)

(Before amortization of goodwill, etc.)

Decreasein
EQD
acquisition
consolidated
cost ofContribution FX Consolidation
EQD
Expense(Apr-Jun) effects adjustments,
decreaseetc.

(labor costs, etc.)

7.1

183.3

2.4

△8.0

Amortizationof goodwill, etc.

0.9

△98.9

Decrease in
freight, etc.
Decline insales prices

84.4△155.1

109.9

74.2
△93.9

△21.4
FY201926.5

FY2019(Before amortizationof goodwill, etc.)© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2020(Before amortizationof goodwill, etc.)

15.9
FY20208

7. Consolidated Balance Sheet
Total assets and liabilities decreased due to a lowering in working capital such asaccounts receivable and accounts payable as a result of lower sales.
(Unit: Hundred million JPY)
3,736

3,635

Item

FY2019
1,936
1,014
632
154
1,801
3,736

Current assets(Tangible fixed assets)

Assets

1,936

1,801

1,926

(Intangible fixed assets)(Inv estments andother assets)

Assetsdecreased by
10.1 BJPY

Total fixed assets

1,710

FY2020Total assets

1,926
981
549
180
1,710
3,635

Change
△ 10
△ 33
△ 84
+25
△ 91
△ 101

Current assets: Decrease
Decrease in accounts receivable due to lower sales

FY2019FY2020

Fixed assets

Current assets

Liabilities/
Net Assets

3,736

3,163

3,635
Liabilities
decreased by
8.4 BJPY

Fixed assets: Decrease
Decrease due to amortization of goodwill, etc.

Item

FY2019Current liabilities
Fixed liabilities
Total liabilities

3,080

Total net assets
Total liabilities and net assets

573

Net assets
decreased by
1.8 BJPY

FY2019

1,489
1,590
3,080
555
3,635

Change
△ 55
△ 28
△ 84
△ 18
△ 101

Liability: Decrease

555
FY2020Net assets

1,544
1,619
3,163
573
3,736

FY2020Decrease in accounts payable

Net assets : Decrease
Decrease in retained earnings due to net loss, and foreign currencytranslation adjustments etc.

Liabilities© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

98. Cash Flow
Operating C/F decreased by 8.52 BJPY (42.0 BJPY in the same period last year).
Affected by the decline operating profit as a result of the COVID-19 pandemic.
Free cash flow returned to achieve profitability thanks to the contribution of
reduced and deferred capital expenditures.(+11.01 BJPY).
(Unit: Hundred million JPY)
Other
operatingAmortization CF Tangible fixedofgoodwill, etc.

Depreciation
expenses

+37.0
+71.3

153.4

Pre-tax
profit△8.7

FY2019asset acquisition

Short-termloanLong-term
Increaseborrowings
repayment
Tangible fixed
Other
Short-term
asset saleinvestingborrowingsCF
reduction△175.2
Cash dividends
+6.6
Other
payment△43.9
Financial
CF
△12.2
△5.7

△40.2

FX
impact, etc. 150.0△13.8+235.2△59.6

Cash and cash equivalents decrease △0.34 BJPY
Cash generated by operating
activities +33.48 B (+42.0 B YoY)

Cash used in investing activities△22.47 B (△48.95 B YoY)

+5.9

FY2020Cash used in financing activities△11.93 B (＋9.6B YoY)Free cash flow +11.01 BJPY (△6.95 BJPY YoY)
(Excluding the impact of the EQD acquisition approx. +17.0 B)© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

109. Financial Forecast for FY2021(Unit: Hundred million JPY)

FY2021

FY2020YOY Change

Units Sold

85,000 units

102,000 units+ 17,000 units+ 20.0%Net Sales

3,915.0

4,300.0+385.0

+9.8%

109.9

140.0

+30.1

+27.4%

Operating Profit(Before amortization of goodwill, etc.)（2.8％）（3.3％）

Amortization of
Goodwill, etc.

93.9

90.0

Operating Profit

15.9（0.4％）

50.0（1.2％）+34.1+214.5%

20.1

40.0

+19.9

+99.0%(Operating profit margin)(Operating profit margin)

Ordinary Profit－－(Ordinary profit margin)（0.5％）（0.9％）

Profit Attributable to
Owners of Parent

△26.8

10.0

－

－

－

－

(Net income margin)（△0.7％）（0.2％）

Dividend per Share

8 yen

8 yen

(※)As the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29), etc. will be applied from the beginning of the fiscal year ending March 31, 2022, the above
consolidated financial forecast is the amount after the application of the said accounting standard, etc. Changes from the same period of the previous year are for reference only.
FY2020 Plan FX rate: USD=JPY105, EUR=JPY120, CNY=JPY16© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

1110. Operating Profit FY2021 (Forecast) vs FY2020
Operating profit is expected to increase by 27.4% YoY, in line with therecovery trend in economic activity.
(Unit: Hundred million JPY)
Gross profit
Increasedue to sales
increase

Sales priceimprovement

20.0

Material cost
increase
Freight, etc.
increase△28.0

Expenseincrease(labor costs, R&D etc)

△18.6
FX
effects

△48.6

115.5

109.9

Operating profit increasedby 3.01 BJPY (+27.4%)△6.3

Consolidation
adjustments,
etc.

△3.9

140.0

(Before amortization of goodwill, etc.)

FY2020(Before amortizationof goodwill, etc.)© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2021(Before amortizationof goodwill, etc.)12

【Reference】 Key Performance Indicators
Performance

Indicator
Return-on-assets (ROA)

Profitability

Operating profit margin

Asset Efficiency

Return-on-equity (ROE)

Total asset turnover

Net income margin

Receivable turnover

Financial
Soundness

Inventory turnover
Capital adequacy ratio
D/E ratio

Sahre

Earnings per share

FY2019FormulaNet income△ 1.4%

Total assets
Net income
Shareholders' equity
Operating profit
Sales
Net income

Sales△ 0.7%

14.7%

15.1%

3.3 times

3.3 times

JPY △49.24

JPY △25.19△17.7 times△51.4 times

1.7 times

2.5 times

Total assets
Interest-bearing debt
Shareholders' equity

Book value per share

0.4%

4.9 times

Shareholders' equity

Price book value ratio(PBR)(4.1％)

5.5 times

Inventories

Earnings per share

1.9%

5.4 times

Cost of sales

Share value△ 4.9%

5.8 times

Sales

Price earnings ratio(PER)business performance caused by(6.4％) the expansion of the COVID-19
pandemic.

1.1 times

Accounts receivable

Share value© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

This index worsened due to a net(1.5％) loss as a result of deteriorating(12.2％)(2.5％)

Comments△ 0.7%

1.2 times

Total assets

Net income(2.8％)(Before amortizationof goodw ill, etc.)△ 8.7%△ 1.2%

Sales

Shares outstanding

FY2020(Before amortizationof goodw ill, etc.)

This index worsened due to a net(2.8％) loss as a result of deteriorating

business performance caused by(1.6％) the expansion of the COVID-19
pandemic.

Capital adequacy ratio improved due
to an increase in cumulative othercomprehensive income including
foreign currency translation
adjustments.

Stock prices：
End of FY2019：JPY 874
End of FY2020：JPY 1,296

13

【Reference】 Quarterly Financial Results
Domestic Business

Unit: Hundred million JPY

1,275.4

1,400

Net Sales

1,200

1,050.4

1,020.4

241.4

1,142.8
115.6

627.9

553.4

599.8

560.4

1,000
800
600

Overseas Business

EQD

1,072.3
110.8

905.3
100.0

949.2
106.1

987.9
103.1

421.5

419.5

460.4

508.6

400
200

422.5

466.9

434.1

466.7

383.8

423.5

424.4

452.9

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

0

FY2019FY2020※1,2：Excluding EQD acquisition costs

Domestic Business

Unit: Hundred million JPY

Operating
Profit (*)

60
50

45.5

24.1
32.5

0

12.9
1Q

* Operating Profit before
amortization of goodwill, etc.

※1

42.8
※2
0.7
8.5

23.9

20
10

46.7
8.9

40
30

48.2

Overseas Business

24.0

33.5

3Q

FY2019© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

10.4
0.6
5.3
4.4

13.8

2Q

※3

4Q

1Q

EQD

※3： 1.5 billion in transfer pricing
adjustments from the Americas

33.0
1.8
14.4

33.4
2.5
15.5

33.0
1.1
11.8

16.7

15.3

20.0

2Q

3Q

4Q

FY202014

【Reference】 Capital Expenditure and R&D Expenses■ Capital Expenditure
Unit: Hundred million JPY

300

271

241

250

181

200

Lease/rental investments

150

Operating investments

100
50
0
FY2019FY2020

FY2021 Plan

■ R&D Expenses
Unit: Hundred million JPY

60.0

52.9

55.0
43.6

40.0
20.0
0.0
FY2019© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2020

FY2021 Plan15

【Reference】 Stock Price Trend(JPY)

Closing priceon May 25

2021
Year high value: 1,347 yen (Jan 8)
Year low value: 980 yen (May 25)

989Yen(as of May 25, 2021)

1800

(JPY)

45,0001600

40,000

Nikkei Average
1400

Logisnext share value

October 2017
Established“Mitsubishi Logisnext Co., Ltd”

35,0001200

30,000April 2013
Established “Mitsubishi
Nichiyu Forklift Co., Ltd”

1000

800

25,000November 2012
Announced merger with
Mitsubishi Heavy
Industries Ltd.

20,000600

15,000

May 2017
Announced integration
with UniCarriers
Corporation

400

200

July 2015
Announced the acquisition of
UniCarriers Corporation shares0

10,0005,000

0

Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021

© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

16

FY2021 Business Plan

President and CEO, Takashi Kubo

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

1. Forklift Market Trends 【Shipping】
The forklift market in 2020 was up 16.8% YoY to 1,695,000 units, driven by the still strong
Chinese market. Excluding China, shipments were down 3.8% YoY to 975,000 units.
Japan(1,000 units)

100

86

90

89

Americas(1,000 units)

87(1,000 units)

100.0% 400

80

80.0%

60

60.0%

300

100.0% 600
280

305

301

283

80.0%
60.0%

200
40

40.0%

20

20.0%

0

0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

40.0%
100
0

Asia & Japan
Oceania 5.1％
Ameri
6.1％

400

100.0%

cas
Global Market 16.7％

80.0%

600
390

454

438

60.0%
40.0%

200

China
42.5％

20.0%

0

498

547

516

100.0%

502

80.0%

400

60.0%

0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

40.0%

200

20.0%

100

0.0%

0

FY2017 FY2018 FY2019 FY2020 FY2021(1,000 units)

720(incl. Middle East & Africa)

300

China
800

500

Europe20.0%
0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

APAC(incl. South Africa)(1,000 units)

140
120

100.0%

124
110

107

80.0%

103

In FY2020

100

1,695

80

60.0%

thousand units(Electric forklifts:
64.0%)

60

40.0%

40

Europe20(incl. Middle East
& Africa)

0

29.6％

20.0%
0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

Markets units
Percent electric forklifts© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

18

2. Forklift Market Trends 【Orders】➢ Orders have been showing a recovery trend, due to global economic activity resumed(+65.6% YoY to 340,000 units, Excluding the Chinese market: +47.8% YoY to 201,000
units).
➢ Demand in the Chinese market has continued to grow. (+100.6% YoY to 139,000 units).
Order intake（excl. Class III*）(1,000 units)
250.0
200.0
150.0

152.0
19.7

140.9

157.2
18.7

17.9

61.4

136.1

Year-on-year△ 30.5％

21.1

26.0

55.2

13.0
36.5

50.3
49.1

61.5

80.4

18.1

19.8

20.3

FY2020-2Q

FY2020-3Q

FY2020-4Q

53.7

50.0

51.3

48.4

57.6

44.1

0.0

22.5

20.9

19.5

20.0

37.6
18.6

FY2019-1Q

FY2019-2Q

FY2019-3Q

FY2019-4Q

FY2020-1Q

18.4

Europe (incl. Middle East & Africa)

Year-on-year+ 42.9％(1,000 units)
150.0

162.8

201.1

105.7

58.5

Americas135.9Year-on-year＋47.8％

16.8

100.0

Japan

Year-on-year△ 3.5％

Year-on-year
＋3.6％

100.0

83.2

75.5

75.3

69.2

50.0

83.2

75.5

75.3

69.2

FY2019-1Q

FY2019-2Q

FY2019-3Q

FY2019-4Q

74.4

60.4

APAC (incl. South Africa)

Year-on-year+ 69.1％Year-on-year+ 44.9％

118.9

127.7

118.9

127.7

109.1

FY2020-1Q

FY2020-2Q

FY2020-3Q

109.1

Year-on-year+ 100.6％

138.8
138.8

0.0

※Class III : Self-propelled electric small lift
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2020-4Q

China

19

3. Forklift Market Forecast※In FY20, there was a special factor due to the spread of COVID-19 infection, so the FY21 forecasts are compared to FY19.

Japan

Americas

Europe(Inc. Middle East & Africa)••

The market is expected to shrink slightly compared to FY19.
Distortion in shipment volume in FY19 and FY20 due to typhoon
damage to some suppliers. Maintain market share excluding
temporary effects.

•

The market is expected to expand over FY19 on the back of normalizationof economic activity.
We aim to increase sales by strengthening business negotiation
management, revising pricing strategy, enhancing product lineup, andstrengthening solution sales in EQD.

•

•
•

•

China

APAC
(incl. South Africa)•••

The market is expected to expand slightly over FY19 due to the increase inClass III on the back of e-commerce growth.
We aim to increase sales by strengthening sales measures focusing on
battery-powered vehicles, including the launching of new models.
The market is expected to expand significantly compared to FY19, due tothe increase in Class III on the back of expansion of the e-commerce market.
Maintain market share by increasing sales with the introduction of newbattery-powered vehicles and promoting model change.
The market is expected to increase or decrease in each country,
but it is expected to recover to the FY19 market.
We aim to increase sales by expanding sales of the new battery-powered
vehicles launched in FY20.

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

20

4. Mid-term Plan “Logisnext SolutionS 2023”
We have developed a new Mid-term Plan “Logisnext SolutionS2023”, considering the recent changes in our businessenvironment and strategies from the current Mid-term Plan

Logisnext SolutionS 2023
“SolutionS” The last letter “S” represents ;not only the “Solution” we offer to customers in the logistics field
but also the “Solution” for our sustainable growth to the future.

Basic
PolicyCorporate
VisionBuild upBusiness
Resilience

Accelerate
growthstrategy

Further develop
our global andregional
branding
strategies

Moving the world forward as the leading provider ofinnovative logistics and material handling solutions© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

21

5. Basic Policy「Logisnext SolutionS 2023」
Build up Business Resilience
Strengthen the existing business

Improve variable and fixed cost

Accelerate growth strategy
Expand our solutions portfolio to meet the growing
market requirements
Improve our profitability via enhancements to the
distribution network
Grow market share with an expanded product andservice portfolio
Further develop our global and regional branding strategies

Utilize “Logisnext” brand and improve brand awarenessfor all of our brands
Create a new corporate culture under “Logisnext”

22

6. FY2021 Management Policy
Position of FY2021➢➢➢➢

The first year of “Logisnext SolutionS 2023”, the “start-up and foundation building phase”.
Continue our initiatives and clarify the path of implementing the three basic strategies.
To build a stable financial base for the future by giving top priority to “Build up Business Resilience”.
Establish a system that can respond quickly and accurately to changes in the environment.
Sales

Unit: Hundred million JPY

Operating profit margin(before amortization of goodwill)

6,000

5,000

4,489

3,915
4,000

3,000

7.0%

5,000
4,300

6.0%

6.0％

5.0%

Mid-term Plan “Logisnext SolutionS 2023”
4.0%

4.1％

2.8％

2,000

3.3％
FY2021
Start-up andfoundationbuilding phase

1,000

3.0%

FY2022Growth andExpansion
phase

2.0%

FY2023Completionand evolution
phases

1.0%

0

0.0%

FY2019ActualFY2020
Actual© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2021Plan

FY2023
Target of mid-term
management plan23

7. Growth Initiative①■Create integration synergies➢ ALESIS Wins Design Award•

The first new post-integration model ALESIS, which went on sale in November 2019,
won the 2020 Good Design Award and the 50th IDEA Machine Industrial Design Award.

•

The stylish exterior design, visibility from the driver's seat, and ease of operation werehighly evaluated.

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

24

8. Growth Initiative②■Development of advanced technologies➢ Product autonomy and intelligence•

At the Logistics Test Center in Takasago district of Mitsubishi Heavy Industries Research & Innovation Center,
we jointly developed “SynX-Vehicle” AGF based on Mitsubishi Heavy Industries' ΣSynX concept (*1).

•

Automatic Human Detection system of Forklift, which constantly monitors the surroundings of the vehicle withmultiple cameras and uses AI functions to alert the operator of approaching people to ensure safety on the job
site, is scheduled to go on sale soon as an option for large forklifts.
*2

SynX-Vehicle（Concept vehicle）

Automatic Human Detection system of Forklift*1 Mitsubishi Heavy Industries' concept for automation and intelligence in logistics equipment, “ΣSynX” (Sigma Synx) .
*2 AGF (Automated Guided Forklift) utilizing ΣSynX.
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

25

9. Growth Initiative③■Automation technology➢ Expansion of solutions business for ports•

Our products that support container cargo handling are divided into handling vehicles and terminal
management systems, and we provide both hardware and software solutions.

•

We are currently working on smart port initiatives adopting remote monitoring RTG, AI for vessel
planning, etc. Based on the analysis of accumulated data, we aim to further improve the efficiency ofport operations.

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

26

10. Growth Initiative④■ Profit generation through reorganization and enhancement➢ Implemented and the future plans for each region
Japan

Americas

Europe

APAC

China

(Stable and ensuring)(Most Important)（Maintain our position）(Expect future expansion)(Develop a new strategy)

Completed
restructuring of direct
sales companies

Reorganized groupsubsidiaries（October 1, 2020）

50 EQD service
locations due toreorganization of direct
sales network

Reorganizing the sales
network of the control
company and direct
trade

Production stoppage
and closure ofChinese production
plants

•

•

•

•

•

Restructuring ofsales network•

Market redevelopment•

Strengthening
Services•

Improving
operational
efficiency
Strengthenmaterial handling
products•

Develop sales
strategies thatutilize customer
management data
Promote rental
business•Beganreorganization ofsales network
based on brandstrategyStrengthen direct
sales channels•

Pursuit of cost
reduction of
products and parts
Introduction andenhancement of
IT utilization
products

Robotic floor cleaner
equipped with
cutting-edge
AI functions© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

27

11. Growth Initiative⑤■ China Market Strategy➢ Closure of production plants and business environment•

In order to respond to changes in the external environment and to optimize the production system in the mid- tolong-term plan, production at UniCarriers Forklift Co., Ltd. (UCCA), a Chinese production subsidiary, wassuspended.

•

The expansion of the Chinese market is largely due to local manufacturers, and foreign manufacturers are in adifficult situation. By product, Class III products are growing, and our company, which focuses on high-end
products, needs to restructure its strategy.

•

The company will promote selection and concentration by strategically reallocating resources through plantclosures and working to optimize its portfolio and strengthen sales capabilities in response to changes in thebusiness environment.
Chinese Market (Shipment)(1,000 units)
800(1,000 units)

50.1

Market volume of foreign
manufacturers by Class (Shipment)

60.0

3.7

600
400
200

37.1

40.9

29.5
263.9

40.0

37.9

345.6

20.0

392.9

FY2017FY2018FY201911.6

FY2020

foreign affiliated company
local
ローカル
外資
Source ：China Industrial Truck Association （CITA）© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

0.0

4.0

16.5

14.7

26.6

18.7
5.2

5.7

6.0

9.8

12.1

13.4

10.5

FY2016FY2017FY2018FY20194.8

0FY2016

3.3

660.0
404.5

5.0

4.6

ClassⅠClassⅡ

4.7

ClassⅢ14.6
FY2020Class III Example(Low lift)

ClassⅣ/Ⅴ28

12. Growth Initiative⑥■ Americas Logistics Solutions Market➢

Expand and increase sales of warehouse models and AGVs in the Americas (EQ Solution)•

The logistics solutions market in the Americas (*1) is expected to grow to $24.1 billion by 2025, driven by
the shift to small-lot production of a wide variety of products, the expansion of the e-commerce market,
the increase in the number of small warehouses, and the increase in the number of 3PL operators. 2019will still be a large market at $14.8 billion (about 22% of the global market).

•In response to the expansion of the logistics solution market, EQD has enhanced its lineup of warehousemodels such as MLFI (Finland) design and AGVs. The company aims to capture the demand with highvalue-added products.
US Logistics Solutions Market$30(US
Billion)

$20

14.8

CAGR
8~9%

※2

24.1

$10

$0

2019
2019年

2025
2025年

※1 A market that includes indoor logistics equipment, AGVs, related systems, racks and conveyors.
※2 CAGR：compound average growth rate
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

EQD Service
Locations29

13. Growth Initiative⑦■SDGs➢ Publication of the “Mitsubishi Logisnext SDGs Report”•

We have identified 14 key issues in light of ESG activities and have set 8 SDGs linked to these issues as
items to focus on.

•

The "Mitsubishi Logisnext SDGs Report," which summarizes our business activities, environmental
activities, social contribution activities and other activities that contribute to solving social issues, will be
posted on our website in December 2020.
•••

Provision of environmentally friendly products
Reduction of environmental impact
Recycling and remanufacturing

•
•
•
•
•
•
•
•

Pursuit of customer satisfaction
Ensuring product quality and safety
Supply Chain Management
Ensuring diversity of human resources
Human resource development
Occupational health and safety
Job satisfaction and labor productivity
Community and social contribution•••

Corporate GovernanceCompliance
Risk Management© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

Focus items of SDGs

30

14. Growth Initiative⑧■ Improve brand power➢ Corporate Brands【Company】• Gradually changed the names of domestic sales
companies and overseas subsidiaries to
Logisnext-named companies.

➢ Category Brands【Corporate Brands】【Category Brands】•

The company's name is derived from a traditional
material handling equipment manufacturer that haslong supported the global logistics industry.

•

Promote brand segregation along with the integrationof bases in each country and reorganization of the sales network.

Brand Strategy
Fully utilize brands with high name recognition in each region and product line up.
Promote an inner/outer branding strategy (*1) to increase awareness.
※１ inner branding： Activities to promote penetration and empathy among the company's employees based on the corporate philosophy and management policies.
outer branding：External branding activities.
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

31

【Reference】 Company Profile
Company Name

Mitsubishi Logisnext Co., Ltd.

Head Office

1-1, 2-Chome, Higashikotari, Nagaokakyo-shi, Kyoto

Established

August 1937

President and CEO

Takashi Kubo

Paid-in Capital

4,913 million yen

Business Lines

Design, development, production, and sales of electric andengine forklifts, conveyor robots, automated warehouseequipment, warehouse management systems, construction
machinery, industrial engines, transmissions, etc.

Operation Centers

Japan:
Kyoto, Shiga, etc.
Overseas: United States, Europe, China, Asia, and others

Number of
Employees

Approx. 11,000 employees

Production Capacity
Approx. 97,000 units
per Year© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

32

【Reference】 Japan Domestic Network
6 Production Bases and 9 Direct Sales Subsidiaries① 8 bases
Shiga Plant

Headquarters
Kyoto Plant② 31 bases

Mitsubishi Logisnext
Headquarters (Kyoto)
Office (Tokyo)
9 Direct Distributors① Logisnext Hokkaido② Logisnext Tohoku③ Logisnext Kanshinetsu④ Logisnext Tokyo⑤ Logisnext Chubu⑥ Logisnext Kinki⑦ Logisnext Chugoku⑧ Logisnext Shikoku⑨ Logisnext Kyushu

Hanyu Plant③ 16 bases⑤47 bases

Onomichi Plant(UniCarriers Handling
Systems)⑦ 25 bases⑨ 39 bases④55 bases

KonosuPlant(Global Component
Technology)⑧ 12 bases⑥ 32 bases
Mitsubishi Logisnext Office and Plant
Sales Subsidiary Head Office© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

Azuchi Plant
33

【Reference】 Overseas Network

Mitsubishi
Logisnext
Europe B.V.

Mitsubishi
Logisnext
Europe AB(Sweden)Mitsubishi Heavy
Industries
Forklift (Dalian)

Mitsubishi Logisnext
Americas ((Marengo)

Mitsubishi Logisnext
Forklift (Shanghai)
Mitsubishi Logisnext
Europe Oy (Finland)

Equipment
Depot, Inc.

Shanghai Nichiyu
Forklift
Manufacturing
Mitsubishi Logisnext
Europe S.A.(Spain)

Mitsubishi Logisnext
Asia PacificNichiyu Asia (Thailand)
Mitsubishi Logisnext
Americas (Houston)

Logisnext
Manufacturing(Thailand)
Production Bases
Main sales Bases© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

34

Disclaimer:⚫ This material is prepared for the sole purpose of providing investors with information and
not intended for solicitation of any buying or selling.
⚫ Forward-looking statements in this material are intended as targets or forecasts,
with no commitment or guarantee as to their accuracy.
⚫ Note that actual future business results of Mitsubishi Logisnext may differ from our current forecast.
⚫ Statements concerning the business results are based on various data that we believe
to be reliable, but we do not guarantee the correctness or completeness of such data.
⚫ This material is provided based on the premise that each investor should use it relying on his
or her own judgment and responsibility, whatever the purpose of its use may be.
Mitsubishi Logisnext shall not be liable whatsoever, regardless of the results from using this material.

Please direct inquires regarding this material to the following:
Mr. Kariya or Ms. Kashiwagi
Corporate Finance Planning Division
Mitsubishi Logisnext Co., Ltd.
1-1, 2-chome, Higashikotari, Nagaokakyo-shi, Kyoto 617-8585
TEL: 075-956-8610 FAX: 075-951-4038
URL: www.logisnext.com© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

35

© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.