Financial Results Briefing for the
2nd quarter of FY2019(FY2019:From April 1, 2019 to March 31, 2020)

Nov. 28, 2019

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

Financial Results for the
2nd quarter of FY2019

President and CEO, Takashi Mikogami© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

1. 2Q FY2019 Summary
Economic Market Trends➢ The global economy has become increasingly sluggish against the backdrop of a slump inmanufacturing due to the uncertain U.S.-China trade friction.
➢ Moreover, with the addition of the Brexit negotiation in Europe and the situation and politicalinstability seen in the Middle East, uncertainty about the future has been further increased.
Although Japan's slowdown in the market is not remarkable, there have been some cautious
responses to investment activities around the world, such as moves to assess the effects ofthe consumption tax hike.
➢ The logistics equipment market is also slightly weakened by the decline in capital investment,
especially in the manufacturing industry which does not allow optimism.

Summary of 2Q FY2019 Results➢ Net sales decreased 3.9% year-on-year, due to the conversion of the yen and the decline insales in the Americas and China.
➢ Operating profit increased 16.0% year-on-year, by sales price improvement effectimplemented in the previous fiscal year and cost reductions.
➢ Regarding Equipment Depot, Inc. (hereinafter referred to as EQD), which was acquired on
July 1, 2019, since the difference between ML and EQD's closing date does not exceed threemonths, EQD's financial results are not included in the second quarter consolidated income
statement. The financial position of EQD is included in the consolidated balance sheet.
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

3

2. Financial Highlights
Unit: Hundred million JPY

Profit and Loss
Statement
Net Sales

FY2018 1H

YOY Change

2,155.0

2,070.9

▲84.2

▲3.9％

87.9

93.7

+5.8

+6.6％

Operating Profit(Before amortization of goodwill)

FY2019 1H(Operating profit margin)（4.1％）（4.5％）

Amortization of
Goodwill

▲44.0

▲42.7

Operating Profit

43.9（2.0％）

50.9（2.5％）+7.0+16.0％

51.4

47.9

▲3.5

▲6.7％

▲4.5

▲17.7％(Operating profit margin)

Ordinary Profit(Ordinary profit margin)（2.4％）（2.3％）

Profit Attributable to
Owners of Parent

25.4

20.9

(Net income margin)

Balance Sheet（1.2％）FY2018（1.0％）FY2019 1H――

YOY Change

Total Assets

3,677

3,771

+94

+2.6％

Total Liabilities

2,992

3,124

+132

+4.4％

685

647

▲38

▲5.5％

Net Assets

FY2018 actual FX rates: USD = JPY110.91, EUR = JPY128.41, CNY = JPY16.54
FY2019 1H actual FX rates: USD = JPY108.63, EUR = JPY121.42, CNY = JPY15.68© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

4

3. Business Results by Segment
Net Sales decreased due to the appreciation of the yen and the decline in sales in Americas and China.
Unit:
Hundred million JPY

Domestic Business

Net Sales

2,500

Overseas Business

2,155

2,071

2,000
1,500

1,290

1,181

FY2019 1H Sales by Region

China& Asia8%
Europe (9%)
18%
(18%)

Japan
43%
(40%)

1,000
500

865

889

FY2018 1H

FY2019 1H

Americas
31%
(33%)

0
() = previous year

Operating Profit*

Operating profit increased by sales price improvements and cost reductions.
Unit:
Hundred million JPY

Domestic Business

100.0

Overseas Business

87.9

93.7

FY2019 1H Operating Profit by Segment

80.0

54.3

60.0

56.6

Overseas
Business
60.5%

40.0
20.0

33.6

36.9

FY2018 1H

FY2019 1H

Domestic
Business
39.5%(38.2%)(61.8%)

0.0* Operating Profit before amortization of goodwill© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

() = previous year5

4. Sales by Region
Japan

Americas(Unit: Hundred million JPY)

1,000

(Unit: Hundred million JPY)

865.2

889.5

440.9

466.9

800
600

424.3

200

422.5

0

(Unit: Hundred million JPY)

302.8

338.7

333.3

FY2018 1H

FY2019 1H

382.9
181.1

2Q

1Q

EuropeDecrease(▲0.6)(▲0.2%)

382.3
172.8

250
200

150

2Q

China and Asia

(Unit: Hundred million JPY)

200
100

368.8

200

FY2019 1H
1Q

300

600

636.2

0
FY2018 1H

400

707.5

400

400

500

800

199.0

162.8

99.0

77.8

100
209.5

201.8

0

50

100.0

84.9

FY2018 1H

FY2019 1H

0
FY2018 1H

FY2019 1H
1Q

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

1Q

2Q

6

5. Net Sales FY2018 1H vs FY2019 1H
Although Japan and Europe increased steadily, net sales decreased mainly
due to the decline in the Americas and China.
(EQD sales is not included in the 2Q consolidated income statement)(Unit: Hundred million JPY)

FX
impact
Japan

▲34.1

Americas26.0

2,155.0

Europe▲62.9

China & Asia

23.7
▲36.8

Decreaseby 8.4 billion yen
FY2018 1H© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

2,070.9

FY2019 1H

7

6. Operating Profit FY2018 1H vs FY2019 1H➢ Drop in gross profit by sales decline and EQD acquisition costs have been offset by sales
price improvements and cost reductions, resulting in an increase in operating profit.
Material cost
increase
Cost(Including CostGross profit Sales
reductions US tariffs)
decreasesavingprice
due to sales improvedecrease
ment
▲4.1
2.3
/Mix

Amortizationof goodwill

10.3

▲21.2

(Unit: Hundred million JPY)
parts &
service

0.5

FX
effects

EQD
Cost

Amortizationof goodwill

Others

▲1.2
▲5.2

▲0.5

24.9

93.7
87.9

▲42.7

▲44.0
50.9

43.9

FY2018 1H

FY2018 1H(Before amortizationof goodwill)© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2019 1H
FY2019 1H(Before amortizationof goodwill)87. Consolidated Balance Sheet
Total assets and liabilities increased due to new consolidation of EQD and(Unit: Hundred million JPY)
increase in borrowings for the acquisition of EQD.
3,771

3,677

Item

FY2018Current assets

1,951
846
680
200
1,726
3,677

Assets(Tangible fixed assets)

1,833

1,951

(Inv estments andother assets)

Assetsincreased by
9.4 billion yen

Total fixed assets

Total assets

1,937

1,726

(Intangible fixed assets)

FY2019
1H
1,833
1,000
765
172
1,937
3,771

Change
▲ 118
+154
+85
▲ 28
+211
+94

Current assets: Decrease
Decrease in short-term loans, etc. (funding of EQD acquisition)

Liabilities/
Net Assets

Fixed assets: Increase
FY2018FY2019 1H

3,677

3,771

2,992

685
FY2018

Increase due to new consolidation of EQD

ItemCurrent liabilities
Fixed liabilities
Total liabilities

Liabilities
increased by
13.2 billion yen

3,124

Total net assets
Total liabilities and net assets

FY2018
1,535
1,457
2,992
685
3,677

FY2019
1H
1,540
1,584
3,124
647
3,771

Change
+5
+127
+132
▲ 38
+94

Liability: Increase

Net assets
decreased by
3.8 billion yen

Increase in borrowings, etc. (Mainly funding of EQD acquisitions)647

Net assets: Decrease
Decrease in foreign currency translation adjustment, etc.

FY2019 1H© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

98. Cash Flow
Free Cash Flow ▲12.23billion yen. However, +4.11 billion yen excluding theimpact of EQD acquisition (*).
※ Payment for acquisition of EQD – redemption of MHI-CMS loans
Net cash generated byoperating activities +152.7

Net cash used ininvesting activities ▲275.0

Net cash provided byfinancing activities ＋129.6(Unit: Hundred million JPY)

Free cash flow
▲12.23 billion yen
+36.7

▲34.1
▲103.6+98.0+88.8 ▲262.1

Amortization Other
operatingofCF
goodwill

+1.9

+52.1
Depreciation
expenses

145.5

+87.2

Short-term
loan
decrease
Tangible fixed
asset saleTangible fixed
asset acquisition

Pre-tax
profit

＋67.1

▲13.8

▲10.9

▲5.1

Cash
dividends Other
FX
payment financial CF impact,
etc.

134.9

Long-term
borrowings
increase
Other
investing Short-termborrowingsCF
increase

FY2018Cash and cash equivalents decreased ▲1.06 billion yen© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2019 1H

109. Financial Forecast for FY2019(Unit: Hundred million JPY)Item

FY2019 1H

FY2019(Results)(Forecast)

Units Sold

52,000 units

119,000 units

Net Sales

2,070.9

4,900

93.7

250.0

Operating Profit(Before amortization of goodwill)（4.5％）（5.1％）

Amortization of
Goodwill

42.7

110.0

Operating Profit

50.9

140.0

(Operating profit margin)(Operating profit margin)

Ordinary Profit（2.5％）（2.9％）

47.9

130.0

(Ordinary profit margin)（2.3％）（2.7％）

Profit Attributable to
Owners of Parent

20.9

70.0

（1.0％）(Net income margin)

Dividend per Share―（1.4％）

13 yenFY2019 Plan FX rate: USD=JPY110, EUR=JPY125, CNY=JPY16© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

11【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
Inventory turnover

FY2018FormulaFY2019 1H(Before amortizationof goodw ill)

Net income
Total assets
Net income
Shareholders' equity
Operating profit
Sales
Net income
Sales
Sales
Total assets
Sales
Accounts receivable
Cost of sales
Inventories(Before amortizationof goodw ill)

1.9%

（4.2％）

1.9%(4.0％)

11.2%（20.4％）

10.5%(17.3％)

2.9%（4.9％）

2.5%(4.7％)

1.6%（3.5％）

1.0%(3.2％)

1.2 times

1.3 times

5.8 times

6.5 times

5.6 times

5.8 times

Financial
Soundness

Shareholders' equity

16.5%

2.5 times

3.0 times

JPY 66.48

JPY 39.34

18.1 times

26.0 times

1.9 times

1.8 times

Total assets

D/E ratio
Earnings per share
Sahre

18.0%

Capital adequacy ratio

Price earnings ratio(PER)
Price book value ratio(PBR)

Interest-bearing debt
Shareholders' equity
Net income
Shares outstanding
Share value
Earnings per share
Share value
Book value per share© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

Comments
Deterioration due to tax effect of loss
on transfer of Chinese subsidiary in theprevious fiscal year(ROA / ROE is
calculated by doubling net income in thefirst half.)

Deterioration due to a decrease inforeign currency translation adjustment
from yen appreciation and an increasein borrowings resulting from the EQD
acquisition.

Stock prices:
End of FY2018:
JPY 1,205
End of FY2019 1H: JPY 1,022

12

【Reference】 Quarterly Financial Results
Domestic Business

Unit: Hundred million JPY

1,400

Net Sales

1,2001065.01,089.9

1,147.4

1,181.3

640.6

649.0

667.6

690.8

424.3

440.9

479.7

1Q

2Q

3Q

Overseas Business

1,050.4

1,020.4

627.9

553.4

490.4

422.5

466.9

4Q

1Q

2Q

1,000
800
600
400
200
0

FY2018
Unit: Hundred million JPY

Operating
Profit (*)

67.0

60
40
20
0

* Operating Profit before
amortization of goodwill

50.7
37.2
19.9

33.6

38.8

1Q

2Q

45.5

32.5
33.3

16.3
3Q

FY2018© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

<YoY comments>
Decreased due to sales decline inAmericas and China and approx.
500 million yen of expenses related
to EQD acquisition.

Overseas Business

64.7

34.4

17.3

4Q

FY2019Domestic Business

80

3Q

25.9
4Q

12.9
1Q

48.2

24.1
24.0

<YoY comments>
Increased due to sales priceimprovements, and due toshipment delays caused bytyphoon in FY2018Q2 .

2Q

3Q

4Q

FY201913

【Reference】 Stock Price Trend
(JPY)
1600

Closing priceon Nov 25

2019Year high value: 1,523 yen (Feb 25)
Year low value:
964 yen (Aug 5)

1,165Yen
October 2017
Established“Mitsubishi Logisnext Co.,Ltd”

(as of Nov 25, 2019)
1400

(JPY)
45,00040,000

Nikkei Average

35,0001200

Logisnext share value
April 2013
Established “Mitsubishi
Nichiyu Forklift Co., Ltd”

1000

30,00025,000800

November 2012
Announced merger with
Mitsubishi Heavy
Industries Ltd.

600

20,00015,000400

10,000July 2015
Announced
acquisition of
UniCarriers
Corporation
shares200

May 2017
Announced
integration with
UniCarriers
Corporation

5,000

0
Jan 2008

0
Jan 2009

Jan 2010

Jan 2011

Jan 2012© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

Jan 2013

Jan 2014

Jan 2015

Jan 2016

Jan 2017

Jan 2018

Jan 2019

14

【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 Mikogami

Paid-in Capital

4,894 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. 13,000 employees

Production Capacity
Approx. 121,000 units
per Year© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

15

【Reference】 Japan Domestic Network
5 Production Bases and 11 Direct Sales Subsidiaries

Mitsubishi Logisnext
Headquarters (Kyoto)
Office (Tokyo)
11 Direct Distributors① Logisnext UniCarriers② Logisnext Hokkaido③ Logisnext Tohoku④ Logisnext Tokyo⑤ Logisnext Shinetsu⑥ Logisnext Shizuoka⑦ Logisnext Chubu⑧ Logisnext Kinki⑨ Logisnext Chugoku⑩ Logisnext Shikoku⑪ Logisnext Kyushu② 8 bases
Shiga Plant

Headquarters
Kyoto Plant③ 15 bases⑤ 7 bases

Onomichi Plant(UniCarriers Handling
Systems)⑨ 18 bases⑪ 18 bases④ 36 bases⑦ 23 bases⑥ 5 bases

KonosuPlant(Global Component
Technology)① 6 branch offices 129 bases nationwide⑩ 7 bases⑧ 18 bases

Mitsubishi Logisnext Office and Plant
Sales Subsidiary Head Office© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

Azuchi Plant
16

【Reference】 Overseas Network

Mitsubishi
Caterpillar
Forklift Europe

Mitsubishi Heavy
Industries
Forklift Dalian

UniCarriers
Europe AB

UniCarriers Americas
Corporation

Rocla Oy
Mitsubishi Logisnext Forklift(Shanghai)
Equipment
Depot, Inc.

UniCarriers
Manufacturing
Spain S.A

Shanghai Nichiyu
Forklift
Manufacturing

UniCarriers China
Corporation

Mitsubishi
Caterpillar Forklift
America

Mitsubishi Logisnext
Asia Pacific

Production Bases
Main sales Bases© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

Logisnext
Manufacturing(Thailand)17

Progress of Business Plan

President and CEO, Takashi Mikogami© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

1. Forklift Market Trends【Shipping】 (Apr-Sep)
Due to decline in the manufacturing industry, the global market in FY2019 1H
decreased 1.6% (YOY) to 744 thousand units.
EuropeJapan(incl. Middle East & Africa)(1,000 units)(1,000 units)

600
467

500
400

506

556

83

83

80.0%

222

241

264

80.0%

60
43

40.0%

39

40

20.0%

20

0.0%

0

FY2015 FY2016 FY2017 FY2018 FY2019

47

60.0%

265

280

266

80.0%

40.0%

60.0%

200
150

132

136

131

154

151

40.0%

0.0%

Asia &
Oceania7.0％

140100.0%
115

120

80.0%

101
83

42

88

60.0%
43

49

57

52

40.0%

China
30.8％

20.0%

20
0

0.0%
FY2015 FY2016 FY2017 FY2018 FY2019

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

0.0%
FY2015 FY2016 FY2017 FY2018 FY2019

China
Europe(1,000 units)(incl. Middle East
& Africa)

Global Market 35.7％
In FY2019 1H

500

300
200

thousand units(Electric forklifts: 63.6%)

100

Americas20.3％

100.0%

454
390

400

744

Japan
6.4％

20.0%

50

FY2015 FY2016 FY2017 FY2018 FY2019

Asia & Oceania

40

42

44

20.0%

(1,000 units)

60

300

100.0%

305

100

0

80

90

80

265

100

100

86

100.0% 350

250
60.0%

197

(1,000 units)

100.0% 100

404

300
200

Americas

80.0%

300
246

237
135

190

60.0%

229

40.0%

126

20.0%

0

0.0%
FY2015 FY2016 FY2017 FY2018 FY2019

Markets units
Percent electric forklifts

191. Forklift Market Trends【Orders】
Forklift Market Trends Analysis➢ Japan : Continued growth but prospects uncertain.
➢ Americas : Market conditions deteriorated due to US-China trade friction.
Recently, it appears to have bottomed out.
➢ Europe : Although sales have been firm, orders are on a deteriorating trend.
Class III➢ China: Class III has supported solid figures, but the actual business sentiment is
Example(Low lift)
extremely poor.
➢ Asia and Oceania: The market has taken a downturn rapidly due to the deterioration in businesssentiment in China.
(※)※Class III : Self-propelled electric small lift

Order intake(Unit: Thousandunits)（excl. Class III）
300.0

260.2

250.0

22.7

200.0

100.0
50.0
0.0

231.8

238.3

235.2

21.2

21.5

18.9

19.7

68.0

89.7

83.2

63.0

58.5

53.7

76.6
67.1

Year-on-year
▲4.5%

226.7

92.2

150.0

Year-on-year▲ 9.6%

62.6

58.1

216.5
17.9
75.5

56.0

50.1

58.2

46.3

51.3

48.4

22.2

20.7

21.6

20.5

22.5

20.9

FY2018-1Q

FY2018-2Q

FY2018-3Q

FY2018-4Q

FY2019-1Q

FY2019-2Q

Japan

Americas

Europe(incl. Middle East & Africa)

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

China

Asia & Oceania
202. FY2019 operating profit forecast
Risk & Opportunity

Key Items for the FY2019 2H
➢
➢
➢
➢

•
•
•
•

Certain execution of sales price improvement
Continue to promote US PMI and create synergies
Launch new integrated models
Preparing for reorganization of domestic sales
companies for 2020

Gross profit
Material costdecreaseincreasedue to sales
Cost
R&D(Incl.US
decrease
reduction
increase,
Parts &
tariffs)/Mix Sales priceetc.
Service
improvement

18.9
▲52.4
219.8

▲5.5

▲14.4

7.1

FX
effect▲0.4

Falling orders in the Americas and China ↓PMI costs↓
Increase in sales in the domestic market ↑Cost reduction, expense control ↑Sales ofnew models
Expensecontrol,
Consolidated etc.
adjustments,
etc.
EQD

10.5

4.0

32.4

Plan to increase operating profit
by 3.02 billion yen(Before amortization of goodwill)

FY2018Actual(Before amortizationof goodwill, etc.)
MITSUBISHI LOGISNEXT CO.,LTD. © All rights reserved.

(Unit: Hundred million JPY)

Amortizationof goodwill

30.0
250.0
▲110.0140.0

FY2019FY2019 forecast
forecast (After amortization(Beforeof goodwill)amortization
21of goodwill)3. Progress of the Mid-Term Business Plan
The company has been implementing growth strategies and generating synergy
benefits in order to achieve the mid-term business plan, but more risks havematerialized than originally assumed. The deterioration in the U.S. and China market
also affected the situation.
FY2016 Virtual
Consolidations→
FY2018 Results••

Synergy creation was achieved,
mostly for cost reductions, but
was affected by soaring
material costs and U.S. tariffs

38

47

Service
expansion,increasedsales, etc.

23

Cost reduction
Sales priceimprovement

54

Sales priceimprovement

31

55

35 Material cost increase

12
17
26

24
11

73
Services and others
EQD
Cost reduction

11
11
19

Sales price improvement

32

U.S. tariffs

U.S. tariffs

Operating income 219.8
5.32 billion yen(4.9%)
increase(4.2%)

Sales decreased due to the deterioration of the market
Increased revenue through the acquisition of EQD
Material cost increase lower than forecast
Sales price improvement as expected
Create further synergies such as cost reduction

Material cost increase70

Cost reduction

166.6

•

•
•
•
•
•

U.S. tariffs will affect entire year
Raw material market conditions are
expected to worsen
Increased profit expected fromfurther synergy creation and sales
price improvements

123
Service expansion,increased sales, etc.

FY2018 Results→
FY2019 Forecast

FY2018 Results→
FY2019 Plan

Operating income
2.02 billion yen
increase(Before amortizationof goodwill)

72 Sales decrease52
614

Materials and Sales of new models
Expense control, etc.
tariffs

30

R&D increase, etc.

240.0
(5.2%)

219.8(4.9%)(Before amortizationof goodwill)

Operating income
3.02 billion yen
increase

250.0(5.1%)(Before amortizationof goodwill)

FY2016Actual

FY2018Actual

FY2019Plan

FY2018Actual

FY2019 Forecast(Before amortizationof goodwill.)(Before amortizationof goodwill)(Before amortizationof goodwill)(Before amortizationof goodwill)(Before amortizationof goodwill)

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

22

4. Selection and concentration of management resources■Transfer of winding machine business (November 1)➢ Specializing in the logistics equipment business• All shares of Nichiyu Machinery Co., Ltd.
were transferred to Japan Steel Works, Ltd.
• With this business transfer, Japan Steel Works, Ltd.
completed its full-line production, while we ML specialize
in our logistics equipment business.

2 Axial rotary winder

Outline of Nichiyu Machinery Co., Ltd.
Location

8-1 Nishioiso, Azuchi-cho, Omihachiman-shi, Shiga (in our Azuchi plant)

Business
description

Development, design, manufacture, and sales of various winding machines andwinders
Parts sales, maintenance, inspection, service business, purchase and sales ofrelated products

CapitalYear ofestablishment

40 million yen (March 31, 2019)
1999(The winding machine business was spun off from the former Nippon Yusoki Co., Ltd.)MITSUBISHI LOGISNEXT CO.,LTD. © All rights reserved.

23

5. Strengthening sales business■Integration with EQD➢ Reorganization of direct sales companies•

Two North American direct sales companies (DEC / SCMH) will become an affiliate of EQD.
We will expand the after-sales and rental business know-how of EQD, and pursue higher
profitability.

•

We will continue to strengthen our direct sales and service businesses in the North
American market to develop new business models and establish a firm business foundation.
Breakdown of EQD‘s Sales Revenue(2018)EQD Service Bases: 43 bases

Rental
26%

Truck
Sales

Parts &

40%

Service

34%
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EQDCompany
DEC/SCMH
High demand area24

6. Expansion of solution business■Establishment of logistics experiment center➢ Create new businesses through open innovation• Established a logistics experiment center in Takasago district of Mitsubishi
Heavy Industries, Ltd. for the purpose of expanding sales andimproving technology of AGV・AGF(※1) .
• Through this facility, we aim to create internal and external innovations andprovide optimal solutions to our customers.
2nd floor: CustomersTour area

Temporaryplacing

Operations
Center

Shelf
storageCargo/Unload

AGF(Future image)※1 AGV: Automated Guided Vehicle
AGF: Automated Guided Forklift

Logistics Experiment Center Concept

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7. Launch of a new model■Model change of counterbalance electric car➢ Model integration• In November 2019, the first new model after integration, 「ALESIS」 was released.
The strengths of 4 old models have been combined into 1.
• We will continue model integrations to improve production efficiency, and toenhance our market presence.

1
2

3
4

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「ALESIS」 Outline

Model

0.9-2.5Tons
Battery-powered
4Wheel counter forklift

Key
Markets

Japan
Overseas(Asia・Oceania,Cis・AME)

Productionplant
Launchdate

Japan (Shiga Plant)
Overseas (Thai Plant <LMT>)
November 13, 201926

8. Launch of a new model■Development concept
Design⚫ Cool design that everyone wants to ride
Safety⚫ Safe control assured in all operations••••

Improved stability when driving
Enhancement of work assistance function andsafety function
Easy battery replacement
Excellent boarding and unboarding

Easy to use and comfortable⚫ Easy operation and security••

Low steps, large floor
Ensure satisfactory comfort even when switchedfrom other brands

Energy saving⚫ Long-running and long battery life
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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
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.

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