Mitsubishi Nichiyu Forklift Co., LtdPRESS INFORMATION
May 12, 2017

Mitsubishi Nichiyu Forklift will perform the integration of business withUniCarriers Corporation, a consolidated subsidiary, through a company split
Mitsubishi Nichiyu Forklift Co., Ltd. (“Mitsubishi Nichiyu,” President and CEO: Hideaki Ninomiya,
Head Office: Nagaokakyo-city, Kyoto-pref.) is pleased to announce the integration of business operation
with its consolidated subsidiary UniCarriers Corporation (“UniCarriers,” President and CEO: Hideaki
Ninomiya, Head Office: Kawasaki-city, Kanagawa-pref.) through a company split (the “Company Split”)
where Mitsubishi Nichiyu succeeds the businesses of UniCarriers except domestic sales, the (scheduled)effective day of which will be October 1, 2017.
This integration of business makes it possible to achieve integration synergy early by further accelerating
the PMI* activities.
Furthermore, Mitsubishi Nichiyu is committed to “strengthen the platform of the integrated business” andaiming to be “one of the world’s leading logistic equipment manufacturers” while working on the new
mid-term business plan “Perfect Integration 2020” that was released in December of 2016.
*PMI: Post-merger integration

We plan to locate the head office at the address of Head Office of the current Mitsubishi Nichiyu(Nagaokakyo-city, Kyoto-pref.) after the integration of business through the Company Split.
We will proceed with the Company Split by signing an Absorption-type Company Split Agreement inaccordance with the foregoing decision. Details will be announced as soon as they are decided.

PRESS CONTACT:Hideyuki Koizumi
Manager, Administration Department
Tel: +81-75-951-7171
Mitsubishi Nichiyu Forklift Co., Ltd.

May 12, 2017To All:Name of Company:
Mitsubishi Nichiyu Forklift Co., Ltd.
Name of Representative:
Hideaki Ninomiya, President and CEO(Code No. 7105 1st Section, Tokyo Stock Exchange)
Contact:
Hideo Matsuura, Executive Officer and General Manager,
Administration Division(Phone: +81-75-956-8602)
Announcement of a direction of procedure for the integration of businessbetween Mitsubishi Nichiyu Forklift Co., Ltd. and UniCarriers Corporation
through a company split (simplified/short form absorption-type company split)
Mitsubishi Nichiyu Forklift Co., Ltd. (hereinafter called “Mitsubishi Nichiyu”) has resolved at its Board ofDirectors held on May 12, 2017 to proceed the integration of business operations between Mitsubishi Nichiyu
and its consolidated subsidiary UniCarriers Corporation (hereinafter called “UniCarriers”) by Mitsubishi
Nichiyu’s absorbing the businesses of UniCarriers except domestic sales by means of simplified/short form
absorption-type company split (hereinafter called the “Company Split”) on October 1, 2017 set as the(scheduled) effective day. Details are provided below.
Since the Company Split is a simplified/short form absorption type company split executed between Mitsubishi
Nichiyu and its wholly-owned subsidiary, some disclosure items and details have been omitted.
1. Purpose of this Transaction
The integration of business operation through the Company Split makes it possible to achieve integration
synergy early by further accelerating the PMI* activities. Furthermore, Mitsubishi Nichiyu is committed to“strengthen the platform of the integrated business” and is aiming to be “one of the world’s leading logistic
equipment manufacturers” while working on the new mid-term business plan “Perfect Integration 2020” thatwas released in December of 2016.
*PMI: Post-merger integration

2. Summary of the Company Split(1) Schedule of the Company Split
Date of resolution passage at Board of Directors meeting on
July 13, 2017 (scheduled)approval of the Absorption-type Company Split Agreement
Signing of the Absorption-type Company Split Agreement
July 13, 2017 (scheduled)
Scheduled date on which the Absorption-type Company Split isOctober 1, 2017 (scheduled)executed (effective day)
(Note) Since the Company Split falls under the category of the simplified form absorption-type company splitpursuant to the provision of Article 796-2 of the Companies Act and short form absorption-typecompany split prescribed in Article 784-1 thereof, it is executed without the approval of theshareholders meeting for the Absorption-type Company Split Agreement between Mitsubishi Nichiyuand UniCarriers.

(2) Method of the Company Split
The Company Split is the Absorption-type Split with Mitsubishi Nichiyu set as the Company Succeeding inthe Absorption-type Split and UniCarriers set as the Company Splitting in the Absorption-type Split.
(3) Allotment in relation to the Company Split
Since the Company Split is executed between the Wholly Owning Parent Company and the Wholly Owned
Subsidiary Company, no cash or other assets will be allotted in relation to the Company Split.
(4) Treatment relating to Share Options and Bonds with Share Options associated with the Company Split
There is no applicable information.
(5) Capital increasing/decreasing due to the Company Split
There is no increase/decrease in the capital of Mitsubishi Nichiyu due to the Company Split.
(6) Rights and obligations that the Company Succeeding in the Absorption-type Split
Mitsubishi Nichiyu succeeds right and obligations including assets and liabilities that it possesses related tothe businesses of UniCarriers except domestic sales on the effective day of the Company Split.
(7) Expectation on the performance capabilities of obligations
It is assumed that Mitsubishi Nichiyu will not have any problems in performing its obligations after theeffective day of the Company Split.
3. Outline of the Companies Concerned in the Company Split
Company Splitting

Company Succeedingin the Absorption-type Splitin the Absorption-type Split(1)

NameUniCarriers CorporationMitsubishi Nichiyu Forklift Co., Ltd. (Note)(2)

Head office

1-2 Shin-Ogura, Saiwai-ku,

1-1, 2-Chome, Higashikotari,

Kawasaki-shi, Kanagawa-ken, Japan

Nagaokakyo-shi, Kyoto-fu, Japan

Hideaki Ninomiya, President and CEO

Hideaki Ninomiya, President (Note)

Development, manufacture and marketing ofDevelopment, designing, manufacture andforklifts, container carriers, transfer cranes

marketing of electric forklifts, engine-poweredand other material handling machinery

forklifts, AGVs, automated warehouses, LAN(3)Title and name ofrepresentative(4)

Businessand other logistics system products, electricvehicles, and monorails(5)

Capital9,759,615,606 yen

4,890,526,626 yen(6)Establishment

February 17, 1949

July 31, 1937

(7)

Number of shares

Common shares: 168,297,506 shares

Common shares: 76,611,269 shares

outstanding(including 167,920,006 treasury stocks)

Class A shares: 32,274,744 shares
Total: 108,886,013 shares(including 2,464,976 treasury stocks)(8)

Accounting period

March 31

March 312

(9)Major shareholders

Mitsubishi Nichiyu owns 100% of its shares.

Mitsubishi Heavy Industries Forklift, Engine &(investors) and equity

Turbocharger Holdings, Ltd. owns 50.94% of(investment) ratio

common shares and 63.26% of the total ofcommon shares and Class A shares (non-votingstocks).

(10)

Financial status andbusiness results for the(Term ended March 2017)(Term ended March 2017)

most recent fiscal year
Net assets

46,799 million yen (consolidated)

60,021 million yen (consolidated)

Total assets

145,116 million yen (consolidated)

366,915 million yen (consolidated)

Net assets per share

123,969.90 yen (consolidated)

545.89 yen (consolidated)

178,207 million yen (consolidated)

270,969 million yen (consolidated)

Operating income

6,905 million yen (consolidated)

10,508 million yen (consolidated)

Ordinary income

6,252 million yen (consolidated)

8,978 million yen (consolidated)

4,378 million yen (consolidated)

3,635 million yen (consolidated)

11,597.13 yen (consolidated)

34.16 yen (consolidated)

Revenues

Net income thatbelongs to the parent
company’s
shareholders
Net income per share(Note) The name, representative, etc. of Mitsubishi Nichiyu after the Company Split are undecided. They will be disclosed as soon as theyare decided.

4. Outline of Business Department To Be Succeeded(1) Businesses of department to be succeeded
Businesses of UniCarriers except domestic sales(2) Business results of department to be succeeded (for the term ended March 2017)
The business results have not been finalized as of this moment.
(3) Items and book values of assets and liabilities to be succeeded (as of March 31, 2017)
They have not been finalized as of this moment.
5. Conditions after the Company Split
The location of the Head Office of Mitsubishi Nichiyu remains unchanged after the Company Split. Its name,representative, etc. are undecided. They will be disclosed as soon as they are decided.
6. Outlook
The effect the Company Split will have on the consolidated business results of Mitsubishi Nichiyu is minor.
End.

3

(Reference) Consolidated business result forecast for the current term (announced on May 9, 2017) andconsolidated business results for the previous term
Consolidated revenues

Consolidated

Consolidated ordinary

Consolidated net

operating income

incomeincome

Business result forecastfor the current term

410,000 million yen

9,000 million yen

8,000 million yen

3,500 million yen

270,969 million yen

10,508 million yen

8,978 million yen

3,635 million yen(ended March 2018)
Business results for theprevious term
(ended March 2017)4