Mitsubishi Nichiyu Forklift Co., Ltd.

Notice concerning change in parent company and in the largest and major shareholder

Tokyo, February 4, 2016 – Mitsubishi Nichiyu Forklift Co., Ltd., announces the change in the largest andmajor shareholder and parent company directly holding common shares and Class A shares of Mitsubishi
Nichiyu Forklift from Mitsubishi Heavy Industries, Ltd., (hereinafter called "MHI") to a forklift trucks,engine and turbochargers business management company (company name undecided; hereinafter called"Management Company"), scheduled to take place by March 2016. The details are shown below.

1. Background information on the changes
The change in the parent company and the largest and major shareholder is the result of the decision byMHI to transfer all common shares and Class A shares of Mitsubishi Nichiyu Forklift held by MHI to theManagement Company for the said subsidiary, in response to the global developments surrounding theMHI Group's current business in material handling equipment centered on forklift trucks, engines andturbochargers that are mutually compatible with each other, for the objectives of strengthening activities
in new fields and technologies, boosting growth in business scale and creating an organization withoriginality and mobility for making decisions swiftly.
There is no change in the fact that MHI is the parent company—holding 100% of the outstanding
common shares for the Management Company—and will remain so into the future.
2. Changes in the parent company and in the largest and major shareholder(1) Summary of the new parent company and the largest and major shareholder
Name
Location
Name and title of
the representative
Business activity
CapitalMajor shareholder andstockholding ratio

To be announced
To be announced
To be announced
Management of the forklift trucks, engines and turbocharges businesses
80,000 million yen (tentative)
100% – Mitsubishi Heavy Industries, Ltd.

(2) Summary of the parent company and the largest and major shareholder before the change
Name
Location
Name and title of
the representative
CapitalBusiness activity
Relationshipbefore the change

Mitsubishi Heavy Industries, Ltd.
No. 16-5 Konan 2-chome, Minato-ku, Tokyo
Shunichi Miyanaga, President
265,608 million yen
Manufacturing in the fields of maritime vessels, engines and motors,
machinery & steel, aerospace, general machinery & specialized vehicles, etc.
Parent company holding 49.41% of voting rights of our company(3) Others
Further details will be announced as soon as they are finalized.
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3. Number of the voting rights held by the shareholder and percentage of the voting rights before and after
the change(1) Management Company

Classification
Beforechange
Afterchange—
Parentcompany

Number of voting rights(percentage of voting rights)
Directly owned Other rights toTotalrights
be included000(0.00%)(0.00%)(0.00%)
366,134
0366,134(49.41%)(0.00%)(49.41%)Major
shareholder
ranking—Top(2) MHIClassification
Beforechange
Afterchange

Parentcompany
Parentcompany

Number of voting rights(percentage of voting rights)
Directly owned Other rights to
Totalrights
be included
366,134
0366,134(49.41%)(0.00%)(49.41%)
0366,134
366,134(0.00%)(49.41%)(49.41%)Major
shareholder
ranking
Top—

4. Outlook going forward
The change is scheduled to be implemented as part of a business reorganization within the MHI Group. It
has been confirmed that Mitsubishi Nichiyu Forklift's common shares and Class A shares to betransferred from MHI to the Management Company will not be sold to parties outside the MHI Group.
Mitsubishi Nichiyu Forklift is listed in the First Section of the Tokyo Stock Exchange and is scheduled toremain listed in the future.
5. Others
Organization within the MHI Group after establishing the Management Company is as shown below. For
the Notice Regarding Acquisition of Shares of UniCarriers Holdings Corporation (hereinafter called"UniCarriers") issued as of July 31, 2015, which announced the acquisition of 65% of UniCarriers' sharesby MHI and 35% of the shares by Mitsubishi Nichiyu Forklift, a change has been made to theManagement Company acquiring the UniCarriers' shares scheduled to be acquired by MHI.

-2-Organizational Structure (Tentative)
Mitsubishi Heavy Industries, Ltd.

New entity integrally manages forklift trucks, engines and turbochargers businesses(Company name to be announced)

To be launched in March 2016

Material handling equipment business

Mitsubishi Nichiyu
Forklift Co., Ltd.

UniCarriers Holdings
Corporation

Engine and turbocharger businessEngine and turbocharger businesscompany(Company name to be announced)
To begin operation in July 2016

PRESS CONTACT:
Hideo Matsuura
General Manager, Administration Division
Tel: +81-75-956-8602, Fax: +81-75-955-3797
MITSUBISHI NICHIYU FORKLIFT CO.,LTD.

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