Note: This document has been translated from a part of the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original
shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any otherforms of damages arising from the translation.

(Stock Exchange Code 7105)
June 6, 2022
To Shareholders with Voting Rights:
Takashi Kubo
Director and President
Mitsubishi Logisnext Co., Ltd.
2-1-1, Higashi-kotari,
Nagaokakyo City, Kyoto

NOTICE OF
THE 121ST ANNUAL GENERAL MEETING OF SHAREHOLDERS
Dear Shareholders:
We are pleased to notify you that the 121st Annual General Meeting of Shareholders of Mitsubishi Logisnext
Co., Ltd. (the “Company”) will be held for the purposes as described below.
To avoid the risk of spreading COVID-19 at the Annual General Meeting of Shareholders, shareholders arerequested to, wherever possible, refrain from attendance at the General Meeting of Shareholders, and instead
exercise their voting rights by electromagnetic means (via the Internet, etc.) or in writing (by postal mail) in
advance.
When exercising voting rights in advance, please refer to the attached “Reference Documents for the
General Meeting of Shareholders” and exercise your voting rights by 4:50 p.m. on Thursday, June 23, 2022,
Japan time.
1. Date and Time:
2. Place:

Friday, June 24, 2022 at 10:00 a.m. Japan time
(Reception opens at 9:00 a.m.)
Main hall at the Corporate Headquarters located at2-1-1, Higashi-kotari, Nagaokakyo City, Kyoto, Japan

3. Agenda:
Matters to be reported: 1. The Business Report, Consolidated Financial Statements for the Company’s
121st Fiscal Year (April 1, 2021 - March 31, 2022) and results of audits by
the Accounting Auditor and the Audit and Supervisory Board of theConsolidated Financial Statements
2. Non-consolidated Financial Statements for the Company’s 121st Fiscal Year
(April 1, 2021 - March 31, 2022)
Proposals to be resolved:
Proposal 1:
Dividend of Surplus
Proposal 2:
Partial Amendments to the Articles of Incorporation
Proposal 3:
Election of Eight (8) Directors

-1-

●
●

●
●

When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
Of the documents to be attached to this Notice, “Notes to the Consolidated Financial Statements” of theConsolidated Financial Statements and “Notes to the Non-consolidated Financial Statements” of theNon-consolidated Financial Statements are posted on the Company’s website(https://www.logisnext.com/) in accordance with provisions of laws and regulations as well as theCompany’s Articles of Incorporation and therefore are not included in the documents attached to thisNotice.
The Consolidated Financial Statements and Non-consolidated Financial Statements that were audited by
the Audit and Supervisory Board Members and the Accounting Auditor include the “Notes to theConsolidated Financial Statements” and “Notes to the Non-consolidated Financial Statements”
mentioned above, in addition to the documents attached to this Notice.
Should the Reference Documents for the General Meeting of Shareholders, Business Report,
Consolidated Financial Statements and Non-consolidated Financial Statements require revisions, therevised versions will be posted on the Company’s website (https://www.logisnext.com/).
If you wish to make a diverse exercise of your voting rights, please notify the Company of your intention
and the reason therefor not later than three (3) days before the Annual General Meeting of Shareholders.

-2-Guide to Exercising Voting Rights
Voting rights at the General Meeting of Shareholders are important rights of shareholders.
Please refer to the attached “Reference Documents for the General Meeting of Shareholders” and exercise
your voting rights.
You can exercise your voting rights by one of the following three methods.


Exercise voting rights via the Internet, etc.
Please follow the instructions on the next page to indicate your vote for or against the proposals.
Deadline: Thursday, June 23, 2022 at 4:50 p.m., Japan time(Your votes must be entered by the deadline above.)

Exercise voting rights in writing (by postal mail)Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form andreturn it by post without attaching a postage stamp.
Deadline: Thursday, June 23, 2022 at 4:50 p.m., Japan time(Your mail must arrive by the deadline above.)

Attend the General Meeting of Shareholders
Please submit the enclosed Voting Rights Exercise Form at the reception desk.
Date and Time: Friday, June 24, 2022 at 10 a.m.
(Reception opens at 9 a.m.)

Institutional investors may use the electronic voting platform for institutional investors, operated by ICJ, Inc.

-3-

Reference Documents for the General Meeting of Shareholders
Proposal 1:

Dividend of Surplus

The basic policy of the Company’s dividend policy, etc. is to maintain stable profit returns, while
securing internal reserves appropriately in preparation for future growth.
For the fiscal year ended March 31, 2022, it is proposed that year-end dividends be distributed as follows,in light of the performance for the fiscal year and business development going forward.
1. Type of Dividends
Cash
2. Allotment of dividend assets to shareholders and total amount of dividends
Common stock of the Company: 8 yen per share
Total amount:853,118,376 yen
3. Date that the dividend of surplus becomes effective
June 27, 2022

-4-

Proposal 2:

Partial Amendments to the Articles of Incorporation

1. Reasons for amendments
The system of electronic provision of materials for General Meetings of Shareholders stipulated in theproviso of Article 1 of the supplementary provisions of the “Act Partially Amending the Companies Act” (ActNo. 70 of 2019) will go into effect on September 1, 2022. Accordingly, new provisions will be established toenable the electronic provision of information contained in the reference documents for the General Meetingof Shareholders, etc. and the limitation of the scope of matters to be included in the paper copy to be sent toshareholders who have requested it.
The current provision related to the Internet disclosure and deemed provision of the reference documents
for the General Meeting of Shareholders, etc. will become unnecessary and will therefore be deleted, and a
supplementary provision concerning the enforcement date of these changes, etc. will be set forth.
2. Details of amendments
The proposed amendments to the Articles of Incorporation are as follows:(Amended parts are underlined.)
Proposed amendments(Deleted)

Current Articles of Incorporation(Internet Disclosure and Deemed Provision ofReference Documents for the General Meeting of
Shareholders, Etc.)
Article 17 The Company may, when convening a
General Meeting of Shareholders, deem that it
has provided information to shareholders
pertaining to matters to be described orindicated in the reference documents for the
General Meeting of Shareholders, business
report, non-consolidated financial statements,
and consolidated financial statements, bydisclosing such information through the Internet
in accordance with the provisions provided in
the Ordinance of the Ministry of Justice.
(Newly established)(Measures for Electronic Provision, Etc.)
Article 17 The Company shall, when convening a
General Meeting of Shareholders, provide
information contained in the reference
documents for the General Meeting of
Shareholders, etc. electronically.
2.
Among the matters to be provided
electronically, the Company may choose not
to include all or part of the matters stipulated
in the Ordinance of the Ministry of Justice inthe paper copy to be sent to shareholders who
have requested it by the record date for voting
rights.

-5-Current Articles of Incorporation

Proposed amendments(Newly established)

Supplementary provisions
Article 1
The deletion of Article 17 (Internet
Disclosure and Deemed Provision ofReference Documents for the General
Meeting of Shareholders, Etc.) of the Articles
of Incorporation and the establishment of the
new Article 17 (Measures for Electronic
Provision, Etc.) shall be effective from
September 1, 2022.
2. Notwithstanding the provisions of thepreceding paragraph, Article 17 (Internet
Disclosure and Deemed Provision of Reference
Documents for the General Meeting of
Shareholders, Etc.) of the Articles ofIncorporation shall remain in force with respect
to a General Meeting of Shareholders to beheld on or before February 28, 2023.
3. These supplementary provisions shall bedeleted on March 1, 2023 or after the lapse of
three months from the date of the General
Meeting of Shareholders set forth in thepreceding paragraph, whichever is later.

-6-

Proposal 3:

Election of Eight (8) Directors

The terms of office of all eight (8) Directors will expire at the conclusion of this year’s Annual General
Meeting of Shareholders. Accordingly, the election of eight (8) Directors is proposed.
The candidates are as follows:
No.

Name

Positions and Responsibilities

1

Reappointment

TakashiMikogami

Representative Director andChairman2

Reappointment

Masayuki
Suematsu

Director

3

Reappointment

Osamu Ando4

Reappointment

Kyoko
Kobayashi

5

Newly appointed

Masataka
Shinya6

Newly appointed

Yuichi Mano

7

Newly appointed

Takatoshi Uno

8

Newly appointed

Fumio
Kobayashi

External Director
Independent Director

External Director
Independent Director

Director

Director

Significant concurrent positions
Executive Vice President,
President and CEO, Logistics,
Thermal & Drive Systems,
Mitsubishi Heavy Industries,
Ltd.
Senior Vice President,
Head of Business Strategy
Office,Vice President, Logistics,
Thermal & Drive Systems,
Mitsubishi Heavy Industries,
Ltd.
President, Shimadzu AccessCorporation
Lawyer, Partner at Irokawa
Legal Professional Corporation,
External Audit and Supervisory
Board Member, Kawakami Paint
Manufacturing Co., Ltd.
External Director, Nippon Pillar
Packing Co., Ltd.

Senior Vice President
CTO, Head of Engineering
Headquarters
In charge of Product Planning
OfficeIn charge of Information
Systems OfficeSenior Executive Officer
Division Head, General
Manager, Corporate Strategy andPlanning Office
Executive Officer
CFO, Head of Corporate Financeand Accounting Headquarters
Senior Managing Director, Japan
Material Flow Institute

External Director
Independent Director

-7-

No.

Name
(Date of birth)

Takashi Mikogami(March 19, 1956)[Reappointment]

1

Brief career summary and important concurrent duties
Apr. 1981 Joined Mitsubishi Heavy Industries, Ltd.
Apr. 2007 General Manager of Turbocharger Engineering
Department, General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2010 Deputy Head of General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2011 General Manager of Turbocharger Business Department,
General Machinery & Special Vehicles Business
Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2012 Deputy Head of General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2013 Director, the Company
Senior Vice President, Mitsubishi Heavy Industries, Ltd.
Apr. 2014 Senior General Manager of Quality Control Division,
Deputy Head of the Machinery, Equipment &Infrastructure Domain, Mitsubishi Heavy Industries, Ltd.
Apr. 2015 Head of Sagamihara Machinery Works, Mitsubishi
Heavy Industries, Ltd.
Apr. 2016 Executive Vice President, Mitsubishi Heavy Industries,
Ltd.
Jun. 2016 Resigned as Director, the Company
Senior Executive Vice President, Mitsubishi Heavy
Industries Forklift, Engine & Turbocharger Holdings,
Ltd.
Jan. 2017 Director, UniCarriers Corporation
Jun. 2017 Representative Director, Senior Executive Vice
President, Assistant to the President, the Company
Oct. 2017 President and CEO, the Company
Director, Mitsubishi Heavy Industries Forklift, Engine &Turbocharger Holdings, Ltd.
Apr. 2020 Executive Vice President, President and CEO, Logistics,
Thermal & Drive Systems, Mitsubishi Heavy Industries,
Ltd. (to present)
Jun. 2020 Resigned as President and CEO, the Company
Jun. 2021 Representative Director and Chairman, the Company (topresent)[Significant concurrent positions]Executive Vice President, President and CEO, Logistics, Thermal &Drive Systems, Mitsubishi Heavy Industries, Ltd.

• Years of service as Director: 7• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company

10,600

See Note 2
below.

12 out of 12 meetings (100%)[Reason for nomination as Director and summary of expected roles]
Mr. Takashi Mikogami has chaired meetings of the Board of Directors as Representative Director and Chairman,
appropriately managing the Board of Directors while appropriately conducting decision making on important matters andmanagement supervision. In order for the Company to grow sustainably, it is important to utilize the comprehensive strengthof Mitsubishi Heavy Industries, Ltd., and he has provided appropriate support cooperation between the Company and
Mitsubishi Heavy Industries, Ltd. as Executive Vice President, President and CEO, Logistics, Thermal & Drive Systems of
Mitsubishi Heavy Industries, Ltd.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate
value. Therefore, we have nominated him again as a candidate for Director.
(Notes)1. The figures for Mr. Takashi Mikogami’s attendance at meetings of the Board of Directors are stated for meetings held in thefiscal year under review after his assumption of office as Director of the Company on June 29, 2021.
2. Mr. Takashi Mikogami is Executive Vice President and President and CEO, Logistics, Thermal & Drive Systems of
Mitsubishi Heavy Industries, Ltd. Mitsubishi Heavy Industries, Ltd. owns 68,888,181 shares (or 64.60% of all shares) of theCompany. A comprehensive capital and business partnership relationship exists between the Company and Mitsubishi Heavy

-8-

3.

4.

Industries, Ltd. in which the Company commissions the production of finished products, parts for finished products andother components to Mitsubishi Heavy Industries, Ltd., and the Company procures them from Mitsubishi Heavy Industries,
Ltd.
Mr. Takashi Mikogami is currently and has in the past 10 years been an executive of Mitsubishi Heavy Industries, Ltd.,
which is the parent of the Company. Positions and responsibilities which Mr. Takashi Mikogami holds currently and has heldin the past 10 years at Mitsubishi Heavy Industries, Ltd. are stated in the above “Brief career summary and importantconcurrent duties.”
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as theparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations
that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If thereappointment of the candidate is approved, the Company will continue to include the candidate as an insured person under
the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up
for renewal.

-9-

No.

2

Name
(Date of birth)

Brief career summary and important concurrent duties

Apr. 1986 Joined Mitsubishi Heavy Industries, Ltd.
May 2001 Controller, Mitsubishi Caterpillar Forklift Europe B.V.
May 2006 Chief of Planning & Accounting Department, General
Machinery & Special Vehicles Business Headquarters,
Mitsubishi Heavy Industries, Ltd.
Jan. 2009 Deputy General Manager of Planning & Accounting
Department, General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2011 Deputy General Manager of Planning & Administration
Department, General Machinery & Special Vehicles
Masayuki Suematsu
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
(August 25, 1963) Jan. 2012 Managing Director, Mitsubishi Agricultural MachineryCo., Ltd.
[Reappointment]
Apr. 2014 Deputy General Manager of Planning & Administration
Department, Business Strategy Division, the Machinery,
Equipment & Infrastructure Domain, Mitsubishi Heavy
Industries, Ltd.
Jan. 2016 CEO, President, Mitsubishi Mahindra Agricultural
Machinery Co., Ltd.
Apr. 2019 Senior Vice President, Mitsubishi Heavy Industries, Ltd.
(to present)
Head of Business Strategy Office and Senior General
Manager of Corporate Planning Department, Mitsubishi
Heavy Industries, Ltd.
Jun. 2019 Director, the Company (to present)
Apr. 2021 Head of Business Strategy Office, Mitsubishi Heavy
Industries, Ltd. (to present)
Apr. 2022 Vice President, Logistics, Thermal & Drive Systems,
Mitsubishi Heavy Industries, Ltd. (to present)[Significant concurrent positions]
Senior Vice President, Mitsubishi Heavy Industries, Ltd.
Head of Business Strategy Office, Mitsubishi Heavy Industries, Ltd.
Vice President, Logistics, Thermal & Drive Systems, Mitsubishi
Heavy Industries, Ltd.
• Years of service as Director: 3• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company0

See Note 1
below.

16 out of 17 meetings (94%)[Reason for nomination as Director and summary of expected roles]
After having held the position as CEO, President of Mitsubishi Mahindra Agricultural Machinery Co., Ltd., Mr. Masayuki
Suematsu currently serves as Senior Vice President, Head of Business Strategy Office and Vice President, Logistics, Thermal& Drive Systems of Mitsubishi Heavy Industries, Ltd., and possesses abundant experience of business management andexcellent insight. Based on his experience and insight, he has provided constructive opinions and suggestions on generalmanagement and conducted management supervision appropriately.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and improving corporate
value. Therefore, we have nominated him again as a candidate for Director.
(Notes)1.
Mr. Masayuki Suematsu is Senior Vice President, Head of Business Strategy Office and Vice President, Logistics, Thermal& Drive Systems of Mitsubishi Heavy Industries, Ltd. Mitsubishi Heavy Industries, Ltd. owns 68,888,181 shares (or 64.60%
of all shares) of the Company. A comprehensive capital and business partnership relationship exists between the Company
and Mitsubishi Heavy Industries, Ltd. in which the Company commissions the production of finished products, parts forfinished products and other components to Mitsubishi Heavy Industries, Ltd., and the Company procures them from
Mitsubishi Heavy Industries, Ltd.
2.
Mr. Masayuki Suematsu is currently and has in the past 10 years been an executive of Mitsubishi Heavy Industries, Ltd.,
which is the parent of the Company. Positions and responsibilities which Mr. Masayuki Suematsu holds currently and has
held in the past 10 years at Mitsubishi Heavy Industries, Ltd. are stated in the above “Brief career summary and importantconcurrent duties.”- 10 -

3.

4.

The Company entered into an agreement with Mr. Masayuki Suematsu to limit his liability for damages under Article 423,
Paragraph 1 of the Companies Act, and the maximum amount of liabilities under such agreements was the amount stipulated
by laws and regulations. If he is re-elected, the Company plans to renew the same agreement with him.
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations
that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If thereappointment of the candidate is approved, the Company will continue to include the candidate as an insured person under
the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up
for renewal.

- 11 -

No.

Name(Date of birth)Osamu Ando
(January 3, 1957)[Reappointment][External Director][Independent
Director]

3

Brief career summary and important concurrent duties
Apr. 1979 Joined Shimadzu Corporation
Apr. 1999 Technical Manager, Analytical Instrument Division,
Shimadzu Corporation
Apr. 2000 President, Shimadzu Scientific Instruments, Inc.
Jun. 2007 Director, General Manager, Analysis and Measurement
Division, Shimadzu Corporation
Jun. 2011 Managing Director,
in charge of Production, CS, and Information Systems,
Shimadzu Corporation
Apr. 2013 In charge of Production and CS; General Manager,
Aircraft Equipment Division, Shimadzu Corporation
Jun. 2013 Senior Managing Executive Officer, Shimadzu
Corporation
Jun. 2017 President, Shimadzu Access Corporation (to present)
Jun. 2020 Director, the Company (to present)[Significant concurrent positions]
President, Shimadzu Access Corporation• Years of service as Director: 2• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company0None

17 out of 17 meetings (100%)[Reason for nomination as External Director and summary of expected roles]
Mr. Osamu Ando possesses experience of global business management in measuring and medical instrument
manufacturers and excellent insight. Using his track record and insight, he has provided constructive opinions and suggestions
and conducted management supervision appropriately from an objective and neutral standpoint as Independent Director.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and improving corporate
value. Therefore, we have nominated him again as a candidate for External Director.
(Notes)1.
Mr. Osamu Ando is a candidate for External Director.
2.
The Company entered into an agreement with Mr. Osamu Ando to limit his liability for damages under Article 423, Paragraph
1 of the Companies Act, and the maximum amount of liabilities under such agreements was the amount stipulated by laws
and regulations. If he is re-elected, the Company plans to renew the same agreement with him.
3.
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations
that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If thereappointment of the candidate is approved, the Company will continue to include the candidate as an insured person under
the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up
for renewal.
4.
Upon his election as Director on June 25, 2020, the Company registered Mr. Osamu Ando as an Independent Director with
Tokyo Stock Exchange, Inc.

- 12 -

No.

Name(Date of birth)
Kyoko Kobayashi(July 22, 1972)[Reappointment][External Director][Independent
Director]

4

Brief career summary and important concurrent duties
Apr. 1999 Registered as Attorney
Joined Irokawa Law Office (currently Irokawa Legal
Professional Corporation)
Sep. 2009 Seconded to Legal Affairs Office, Sharp Corporation
Sep. 2014 Returned to Irokawa Law OfficeJan. 2018 Partner, Irokawa Law OfficeFeb. 2018 External Audit and Supervisory Board Member,
KAWAKAMI PAINT MANUFACTURING CO., LTD.
(to present)
Jan. 2020 Partner, Irokawa Legal Professional Corporation (topresent)
Jun. 2020 Director, the Company (to present)
Jun. 2021 External Director, Nippon Pillar Packing Co., Ltd. (topresent)[Significant concurrent positions]
Partner, Irokawa Legal Professional Corporation, attorney
External Audit and Supervisory Board Member, KAWAKAMIPAINT MANUFACTURING CO., LTD.
External Director, Nippon Pillar Packing Co., Ltd.

• Years of service as Director: 2• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company0None

17 out of 17 meetings (100%)[Reason for nomination as External Director and summary of expected roles]
Ms. Kyoko Kobayashi possesses abundant track record and insight mainly related to corporate legal affairs as an attorney.
She also has worked for a listed company and served as Independent Director at another listed company. Using her trackrecord and insight, she has provided constructive opinions and suggestions and conducted management supervision
appropriately from an objective and neutral standpoint as Independent Director.
Based on the above, she is expected to contribute to achieving sustainable growth of the Company and improving corporate
value. Therefore, the Company reappointed her as a candidate for External Director.
Although she has not been engaged in corporate management other than serving as Outside Officer, the Company has
determined that she can appropriately fulfill her duties as an External Director for the reasons above.
(Notes)1.
Ms. Kyoko Kobayashi is a candidate for External Director.
2.
No special interests exist between Ms. Kyoko Kobayashi and the Company. She is a partner at Irokawa Legal Professional
Corporation, with which the Company has entered into a legal advisory contract.
3.
The Company entered into an agreement with Ms. Kyoko Kobayashi to limit her liability for damages under Article 423,
Paragraph 1 of the Companies Act, and the maximum amount of liabilities under such agreements was the amount stipulated
by laws and regulations. If she is re-elected, the Company plans to renew the same agreement with her.
4.
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations
that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If thereappointment of the candidate is approved, the Company will continue to include the candidate as an insured person under
the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up
for renewal.
5.
Upon her election as External Director on June 25, 2020, the Company registered Ms. Kyoko Kobayashi as Independent
Director with Tokyo Stock Exchange, Inc.

- 13 -

No.

Name(Date of birth)

Masataka Shinya(April 4, 1958)[Newly appointed]

5

Brief career summary and important concurrent duties
Apr. 1982 Joined Mitsubishi Heavy Industries, Ltd.
Apr. 2008 General Manager of Industrial Vehicles Engineering
Department, General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2010 General Manager of Forklift Department, General
Machinery & Special Vehicles Business Headquarters,
Mitsubishi Heavy Industries, Ltd.
Apr. 2011 General Manager of Forklift Department, Forklift
Business Division, General Machinery & Special
Vehicles Business Headquarters, Mitsubishi Heavy
Industries, Ltd.
Oct. 2011 General Manager of Forklift Engineering Department,
Forklift Business Division, General Machinery & Special
Vehicles Business Headquarters, Mitsubishi Heavy
Industries, Ltd.
Apr. 2013 Director, Senior Executive Officer, in charge ofSagamihara Business Headquarters, Head of Sagamihara
Business Headquarters, Deputy Head of Engineering
Headquarters, the Company
Jun. 2014 Director, Senior Executive Officer, Deputy Head ofEngineering Headquarters, the Company
Jun. 2015 Resigned as Director, the Company
Senior Executive Officer, Deputy Head of Engineering
Headquarters, the Company
May 2016 Senior Executive Officer, Head of Engineering
Headquarters, Division Head, General Manager, Product
Planning Division, the Company
Oct. 2017 Senior Executive Officer, Division Head, General
Manager, Product Planning Office, the Company
Apr. 2020 Senior Executive Officer, Head of Engineering
Headquarters, the Company
Apr. 2021 Senior Vice President, CTO, Head of Engineering
Headquarters, in charge of Product Planning Office, theCompany
Apr. 2022 Senior Vice President, CTO, Head of Engineering
Headquarters, in charge of Product Planning Office
In charge of Information Systems Office, the Company(to present)• Years of service as Director: 2• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company

14,300None- out of - meetings (-%)

[Reason for nomination as Director and summary of expected roles]
Mr. Masataka Shinya has strongly promoted strengthening of the structure of Engineering Headquarters and development
system as well as solving technical problems, as Senior Vice President, CTO and Head of Engineering Headquarters. As CTO,
he has also worked on resolving issues and ensuring appropriate cooperation between engineering and product planning,
improving quality and encouraging personnel exchanges, etc. which goes to show his excellent leadership.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate
value. Therefore, we have nominated him as a candidate for Director.
(Notes)1.
Mr. Masataka Shinya has in the past 10 years been an executive of Mitsubishi Heavy Industries, Ltd., which is the parent of
the Company. Positions and responsibilities which Mr. Masataka Shinya has held in the past 10 years at Mitsubishi Heavy
Industries, Ltd. are stated in the above “Brief career summary and important concurrent duties.”
2.
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain- 14 -

exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations
that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If theappointment of the candidate is approved, the Company will include the candidate as an insured person under the insurance
contract. The Company plans to renew the insurance contract with the above details the next time it comes up for renewal.

- 15 -

No.

Name(Date of birth)

Yuichi Mano
(June 25, 1963)[Newly appointed]

6

Brief career summary and important concurrent duties
Apr. 1986 Joined Mitsubishi Heavy Industries, Ltd.
Jul. 1996 Assistant to General Manager of Product Support,
Mitsubishi Caterpillar Forklift America Inc.
Apr. 2003 Chief of Planning & Accounting Department,
General Machinery & Special Vehicles Business
Headquarters, Mitsubishi Heavy Industries, Ltd.
Apr. 2004 Chief of Business Strategy Group, Material Handling
Equipment Department, General Machinery & Special
Vehicles Business Headquarters, Mitsubishi Heavy
Industries, Ltd.
Apr. 2009 Deputy General Manager of Material Handling
Equipment Department, General Machinery & Special
Vehicles Business Headquarters, Mitsubishi Heavy
Industries, Ltd.
Oct. 2011 General Manager of Forklift Sales Department, Forklift
Business Division, General Machinery & Special
Vehicles Business Headquarters, Mitsubishi Heavy
Industries, Ltd.
Apr. 2013 Director, Senior Executive Officer, Head of Corporate
Planning Office, the Company
Jul. 2014 Representative Director and President, Mitsubishi
Caterpillar Forklift Europe B.V.
Jun. 2017 Resigned as Director, the Company
Jun. 2018 Senior Executive Officer, Deputy General Manager,
Strategic Planning Office, the Company
Apr. 2019 Senior Executive Officer, General Manager, Strategic
Planning Office, the Company
Apr. 2020 Senior Executive Officer, Head of Overseas Sales andMarketing Headquarters, The Company
Jul. 2020 Senior Executive Officer, Head of Overseas Business
Headquarters, the Company
Apr. 2022 Senior Executive Officer, Division Head, General
Manager, Corporate Strategy and Planning Office, theCompany (to present)• Years of service as Director: 4• Attendance at Board of Directors meetings in fiscal year under review:

Number of Special interests
shares owned
with the(Common stock)Company

3,800

None

- out of - meetings (-%)

[Reason for nomination as Director and summary of expected roles]
Since April 2022, Mr. Yuichi Mano he has served as Division Head, General Manager of Corporate Strategy and Planning
Office after having held the position as Head of Corporate Planning Office, President of overseas group company and Headof Overseas Business Headquarters, etc. as Senior Executive Officer while exercising his skill. With his excellent insight forcorporate strategy and planning as well as his abundant experience of global business management in Japan, the Americas andEurope, he has been a driving force behind business expansion of the Company since joining the Company. The Company
believes that he is the most suitable person for the top management position to take over the footing of the current President
and help the Company make further progress.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate
value. Therefore, we have nominated him as a candidate for Director.
(Notes)1.
Mr. Yuichi Mano has in the past 10 years been an executive of Mitsubishi Heavy Industries, Ltd., which is the parent of theCompany. Positions and responsibilities which Mr. Yuichi Mano has held in the past 10 years at Mitsubishi Heavy Industries,
Ltd. are stated in the above “Brief career summary and important concurrent duties.”
2.
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations- 16 -

that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If theappointment of the candidate is approved, the Company will include the candidate as an insured person under the insurance
contract. The Company plans to renew the insurance contract with the above details the next time it comes up for renewal.

- 17 -

No.

7

Name
(Date of birth)

Brief career summary and important concurrent duties

Number of Special interests
shares owned
with the(Common stock)Company

Jul. 2006 Joined the Company
Jul. 2009 Vice President, Shanghai Nichiyu Forklift ManufacturingCo., Ltd.
Takatoshi Uno(November 18, 1965) Oct. 2012 Executive Vice President, Nichiyu Forklift (Thailand)Co., Ltd.
Feb.
2015
Division Head, General Manager, Corporate Finance and[Newly appointed]
Accounting Division, Administration Headquarters, theCompany
Jun. 2018 Assistant to Head of Administration Headquarters, theCompany
May 2019 Member of the Executive Team, Head of Corporate
Finance and Accounting Headquarters, the Company
Apr. 2021 Executive Officer, CFO, Head of Corporate Finance andAccounting Headquarters, Division Head, General
Manager, Corporate Finance Planning Division, theCompany
Apr. 2022 Executive Officer, CFO, Head of Corporate Finance andAccounting Headquarters, the Company (to present)• Years of service as Director: • Attendance at Board of Directors meetings in fiscal year under review:

900

None

- out of - meetings (-%)

[Reason for nomination as Director and summary of expected roles]
Mr. Takatoshi Uno has worked on strengthening fiscal basis as a top-priority issue while serving as Executive Officer,
CFO and Head of Corporate Finance and Accounting Headquarters. He has steadily promoted important projects from theviewpoint of financial affairs while managing financial planning accurately and making appropriate proposals based on
various indicators.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate
value. Therefore, we have nominated him as a candidate for Director.
(Note)The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as a party to
the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided for in Article
430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named as the insured
persons. The contract covers potential damages and expense payments to be borne by the insured persons arising from shareholder
derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain exemption clauses, such as
no compensation being given for liability attributable to acts in violation of laws or regulations that were committed with fullknowledge of their illegality. All insurance premiums are borne by the Company. If the appointment of the candidate is approved,
the Company will include the candidate as an insured person under the insurance contract. The Company plans to renew theinsurance contract with the above details the next time it comes up for renewal.

- 18 -

No.

Name(Date of birth)

Brief career summary and important concurrent duties

Number of Special interests
shares owned
with the(Common stock)Company

Apr. 1970 Joined Daifuku Co., Ltd.
Apr. 1997 General Manager, Metropolitan Area Sales Division,
Daifuku Co., Ltd.

Jun. 1998 Director, General Manager, Regional Business Division,
Daifuku Co., Ltd.

Apr. 2003 Managing Director, Chief Operating Officer (COO), Sales

Fumio Kobayashi(August 17, 1947)[Newly appointed][External Director][Independent
Director]8

and Marketing Operations, Daifuku Co., Ltd.
Deputy General Manager, FA&DA operations
General Manager, Sales Division, FA&DA Operations,
Daifuku Co., Ltd.
Apr. 2004 Representative Director, Senior Managing Officer, Sales andMarketing Operations, General Manager, FA&DA
Operations, Daifuku Co., Ltd.

Apr. 2005 Representative Director, Senior Managing Officer, Sales
and Marketing Operations, COO, FA&DA, DTS
Operations, General Manager, FA&DA Operations,
Daifuku Co., Ltd.
Representative Director and President, Daifuku Logistic
Technology Co., Ltd.
Apr. 2006 Executive Vice President, COO, Sales and Marketing
Operations, COO, FA&DA, DTS Operations, Daifuku
Co., Ltd.
Apr. 2007 Executive Vice President, COO, Sales and Marketing
Operations, COO, FA&DA Operations, Daifuku Co.,
Ltd.
Jun. 2011 Executive Vice President, COO, Sales and Marketing
Operations, COO, FA&DA Operations, Daifuku Co.,Ltd.
Apr. 2012 Executive Vice President, COO, Sales and Marketing
Operations, Daifuku Co., Ltd.
Apr. 2013 Executive Vice President, Daifuku Co., Ltd.
Apr. 2014 Executive Vice President, Supervisor of Companies in
Europe, Daifuku Co., Ltd.
Apr. 2015 Director, Adviser, Daifuku Co., Ltd.
Jun. 2015 Adviser, Daifuku Co., Ltd.
Nov. 2016 Managing Director, Japan Material Flow InstituteJun. 2017 Resigned from Daifuku Co., Ltd.
Oct. 2017 Senior Managing Director, Japan Material Flow Institute(to present)[Significant concurrent positions]
Senior Managing Director, Japan Material Flow Institute• Years of service as Director: • Attendance at Board of Directors meetings in fiscal year under review:

0

None

- out of - meetings (-%)

[Reason for nomination as External Director and summary of expected roles]
Mr. Fumio Kobayashi currently serves as Senior Managing Director, Japan Material Flow Institute after having held theposition as Executive Vice President, Daifuku Co., Ltd., and possesses abundant experience of business management andexcellent insight for the material handling equipment industry. Based on his experience and insight, the Company believes
that he will provide constructive opinions and suggestions and conduct management supervision appropriately from his
objective and neutral standpoint as Independent Director.
Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate
value. Therefore, we have nominated him as a candidate for External Director.
(Notes)1.
Mr. Fumio Kobayashi is a candidate for External Director.
2.
The Company plans to enter into an agreement with him to limit his liabilities for damages under Article 423, Paragraph 1of the Companies Act, and the maximum amount of liabilities under the agreement will be the amount stipulated by laws
and regulations.

- 19 -

3.

4.

The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as aparty to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided
for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named
as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons
arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes
certain exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or
regulations that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company.
If the appointment of the candidate is approved, the Company will include the candidate as an insured person under the
insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up for
renewal.
If the election of Mr. Fumio Kobayashi is approved, the Company plans to register him as an Independent Audit andSupervisory Board Member with Tokyo Stock Exchange, Inc.

- 20 -