Financial Results Briefing for the
2nd quarter of FY2021(FY2021:From April 1, 2021 to March 31, 2022)

Nov. 9, 2021

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

Financial Results for the
2nd quarter of FY2021(FY2021:From April 1, 2021 to March 31, 2022)

President and CEO, Takashi Kubo

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

1. FY2021/2Q Summary
Economic Market Trends➢ The global economy is continuing its recovery trend from COVID-19.
➢ The overseas market for material handling equipment has shown strong growthin Europe, the U.S., and Asia since around September last year, with China
showing recovery ahead of the rest of the world. In Japan, the recovery trend ismoderate, but it is returning to the level before COVID-19.
➢ On the other hand, the rapid economic recovery is still causing supply chain
disruptions and increasing material costs and transportation costs have had asignificant impact on production and costs.

Summary of FY2021/2Q Results➢ Although orders have been strong due to the growth of the forklift market, theproduction and shipping system has not been able to meet demand, and meetingdelivery deadlines is an urgent issue.
➢ Net sales increased by 16.5% YoY due to strong market recovery in overseas bases.
➢ Operating profit increased 45.2% YoY (before amortization of goodwill, etc.) due tothe recovery in sales, despite increasing material costs and transportation costs.

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

3

2. Financial Highlights
Unit: Hundred million JPY

Profit and Loss
Statement
Net Sales

FY2020/2Q

FY2021/2Q

1,854.6

2,160.9+306.3+16.5％

43.4

63.1

+19.6

+45.2％

Operating Profit(Before amortization of goodwill, etc.)(Operating profit margin)（2.3％）（2.9％）

48.0

47.5

Amortization of
Goodwill
Operating Profit(Operating profit margin)

Ordinary Profit(Ordinary profit margin)

Profit Attributable to
Owners of Parent(Net income margin)

YOY Change

△4.6

―

―

（△0.2％）（0.7％）

15.6

+20.2

―

△7.0
（△0.4％）

14.3（0.7％）

+21.4

―

△19.6

0.3

+19.9

―

（△1.1％）（0.0％）FY2020/2Q actual FX rates：USD＝106.92JPY EUR＝121.30JPY CNY＝15.26JPY
FY2020/4Q actual FX rates：USD＝106.06JPY EUR＝123.70JPY CNY＝15.67JPY
FY2021/2Q actual FX rates：USD＝109.80JPY EUR＝130.88JPY CNY＝16.99JPY

Balance SheetFY2020/2Q

FY2021/2Q

YOY Change

Total Assets

3,635

3,656

+21

+0.6％

Total Liabilities

3,080

3,093

+14

+0.4％

555

563

+8

+1.4％

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

4

3. Business Results by Segment
Net Sale: Net sales increased due to strong market recovery mainly in Americas.
Unit:
Hundred million JPY

Domestic Business

Overseas Business

Net Sales

2,500

2,160.9
1,854.6

2,000
1,500

1,325

1,047

FY2021/2Q Sales by Region

China& AsiaEurope 7%
17% (5%)

(16%)

Japan
39%
(44%)

1,000
500

836

807

Americas
37%
(35%)

0
FY2020/2Q

FY2021/2Q() = previous year

Operating Profit*

Operating profit (*): Despite the impact of the sharp rise of material and transportation costs, operating profit
increased due to the contribution of higher gross profit from sales recovery.
Unit:
Hundred million JPY

Domestic Business

Overseas Business

FY2021/2Q Operating Profit by Segment

63.1

70.0
60.0

50.0

43.4

40.0
30.0

22.2

20.0
10.0

35.7

21.1

27.4

Overseas
Business
56.6%(51.3%)

Domestic
Business
43.4%(48.7%)

0.0
FY2020/2Q* Operating Profit before amortization of goodwill, etc.

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

FY2021/2Q() = previous year5

4. Sales by Region
Japan

Americas(Unit: Hundred million JPY)

1,000

(Unit: Hundred million JPY)

836.2

807.4

800

1,000

600

426.9

423.5

400

600

409.3

383.8

323.4

400.4

FY2020/2Q

FY2021/2Q

0
FY2020/2Q

FY2021/2Q
1Q(Unit: Hundred million JPY)

200

404.4
325.5

200

0

300

649.0

400

200

400

804.8

800

2Q

1Q

EuropeChina and Asia

(Unit: Hundred million JPY)

368.3
297.5
171.9
150.1

2Q

200
150

151.5
100.6

76.9

100
49.9

100

196.4

147.3

50

74.6

50.6

0

0
FY2020/2Q

FY2021/2Q
1Q

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

FY2020/2Q

FY2021/2Q
1Q

2Q

6

5. Net Sales FY2020/2Q vs FY2021/2Q
Net sales increased by 16.5% YoY because of strong recovery in overseas markets. Orders improved
significantly, however because of production and shipment delays caused by supply chain disruptions,this has not directly led to an increase in sales. In addition, the recovery trend in Asia and other regions
has slowed down due to the spread of COVID-19 infections.
(Unit: Hundred million JPY)

Americas

FX
impact

Japan

56.5

28.8

Europe42.9

China & Asia

43.9

134.2

2,160.9

1,854.6

Increased by
30.63BJPY（+16.5％）
FY2020/2Q© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2021/2Q
7

6. Operating Profit FY2020/2Q vs FY2021/2Q
Despite the impact of higher-than-expected material and transportation costs, the increase in sales
contributed to the increase in profit. Operating profit before amortization of goodwill, etc. increased by 45.2% YoY.
Gross profit Sales
increaseprice
due to sales improveincrease
ment
/Mix

Material
cost
increase(Unit: Hundred million JPY)

Transportation
costs
increase

4.9

Expenseincrease△22.0(labor costs, etc.)△16.6
US tariffs△23.6
Amortizationof goodwill

84.3
43.4

92.8

△4.5

Operating profit increasedby 1.96 BJPY (+45.2%)

Consolidation
adjustments,
FX
etc.
effects

2.4

Amortizationof goodwill

△5.2

63.1

(Before amortization of goodwill)
△47.5

15.6

△4.6
FY2020/2Q△48.0

FY2020/2Q(Before amortizationof goodwill, etc.)© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

FY2021/2Q(Before amortizationof goodwill, etc.)

FY2021/
2Q

8

7. Consolidated Balance Sheet
Total assets and liabilities increased due to an increase in working capital such as inventory andaccounts payable as a result of business performance recovery.
(Unit: Hundred million JPY)
3,656

3,635

Item
Current assets

Assets(Tangible fixed assets)

1,926

1,995

(Inv estments andother assets)

Assetsincreased by
2.1 BJPY

1,710(Intangible fixed assets)

Total fixed assets

1,661

Total assets

FY2020/
4Q
1,926
981
549
180
1,710
3,635

FY2021/
2Q
1,995
978
501
182
1,661
3,656

Change
+70
△3
△ 48
+3
△ 48
+21

Current assets: Increase
Increase in inventories.

FY2020/4Q

FY2021/2Q

Fixed assets

Current assets

3,656

Liabilities/
Net Assets

3,635

3,093

FY2020/4Q

Net assets

Item

Total net assets
Total liabilities and net assets

Net assets
increased by
0.8 BJPY

555

Decrease due to amortization of goodwill, etc.

Current liabilities
Fixed liabilities
Total liabilities

Liabilities
increased by
1.4 BJPY

3,080

Fixed assets: Decrease

FY2020/
4Q
1,489
1,590
3,080
555
3,635

FY2021/
2Q
1,514
1,579
3,093
563
3,656

Change
+25
△ 11
+14
+8
+21

Liability: Increase

563
FY2021/2Q

Increase in accounts payable and decrease in borrowing.

Net assets : Increase
Increase in valuation difference on available-for-sale securities, andforeign currency translation adjustments etc.

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

98. Cash Flow
Operating C/F decreased by 1.83 BJPY (14.0 BJPY in the same period last year). Working
capital deteriorated from an increase in inventories caused by production and shipment
delays. Free cash flow was slightly worse than last year due to the decrease in operating
cash flow (△0.29 BJPY).
(Unit: Hundred million JPY)

Amortization Otherof
operatinggoodwill, etc. CF

Depreciation
expenses

Tangible fixed
asset acquisition+35.8

Short-termLong-term
loan
Other Short-term borrowings
decrease
investing borrowings repayment
Tangible fixedCF
repayment
asset sale
Cash dividends△45.8

Pre-tax
profit

150.0

+12.6

FY2020/4Q△6.9△106.7+119.0

+4.2

+44.1

△20.9

payment

△15.1

△8.5

Other
FX
Financial CF
impact, etc. 146.3△13.9

Cash and cash equivalents decrease △0.37 BJPY
Cash generated by operating
activities +12.16B (+13.99B YoY)

Cash used in investing activities△6.52B (△8.06B YoY)

△1.7

FY2021/2Q

Cash used in financing activities△5.83B (＋4.71B YoY)Free cash flow
+5.64 BJPY (+5.93 BJPY YoY)
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

109. Financial Forecast for FY2021
On October 29, 2021, our FY2021 financial forecast has been revised because the forklift market is also
recovering more than initially expected, as a major recovery trend is being seen all over the world as
economic activities resume in earnest.
Main reasons for the revised FY2021 financial forecast• Actual results up to 2Q (increase in sales compared to initial forecast) and current order situation.
• Increase in variable costs due to increasing material and transportation costs that far exceeded theinitial forecast.
(Unit: Hundred million JPY)
FY2020/2Q（Results）

FY2020/4Q（Results）

FY2021/2Q（Results）

FY2021 Revised
Forecast

FY2021 Original
Forecast(May. 2021)（Oct 29,2021）

Units Sold

39,000 units

85,000 units

48,000 units

115,000 units

102,000 units

Net Sales

1,854.6

3,915.0

2,160.9

4,700.0

4,300.0

Operating Profit(Before amortization of goodwill, etc.)(Operating profit margin)

43.4(Operating profit margin)

Ordinary Profit(Ordinary profit margin)

Profit Attributable to
Owners of Parent(Net income margin)

Dividend per Share

63.1

140.0

140.0

（2.8％）（2.9％）（3.0％）（3.3％）

48.0

93.9

47.5

90.0

90.0

Amortization of
Goodwill
Operating Profit

109.9（2.3％）△4.6（△0.2％）△7.0（△0.4％）

15.9（0.4％）

20.1（0.5％）

△19.6

△26.8

（△1.1％）（△0.7％）―© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

JPY8

15.6

（0.7％）

14.3（0.7％）

0.3（0.0％）―

50.0（1.1％）

40.0（0.9％）

10.0

50.0（1.2％）

40.0（0.9％）

10.0（0.2％）（0.2％）JPY8

JPY8

FY2021 revised Plan FX rate: USD=110JPY EUR=130JPY CNY=17JPY

11

10. Operating Profit FY2021 (Forecast) vs FY2020
The forklift market is recovering more than initially expected, and the order situation is favorable.
While net sales are expected to increase, there is a delay in resolving production and shipment
delays caused by supply chain disruptions, and variable costs have increased significantly due toincreasing material and transportation costs. We have left our initial forecast for operating income
unchanged, as the effects of the price hike are expected to lag.
Gross profit
increasedue to sales
increase
/Mix

Sales
price
improvement(Unit: Hundred million JPY)

Material
cost
increase

Transportation
costs
increase

42.6（20.0）△92.5（△28.0）

US tariffs△68.1（△18.6）

109.9

238.1
（115.5）※

Expenseincrease(labor costs, R&D etc.)

△11.4
（ー）

FX
effects△77.4
3.9
Operating profit increased （△48.6）（△6.3）
by 3.01 BJPY (+27.4%)

Consolidation
adjustments,
etc.

△5.1
（△3.9）
140.0(Before amortization of goodwill)

FY2020/4Q(Before amortizationof goodwill, etc.)© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

※() : Original Forecast

FY2021/4Q(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

FY2020/4Q

FormulaNet income
Total assets
Net income
Shareholders' equity

Sales
Sales

△ 4.9%(6.4％)

0.1%

recovery of businessperformance accompanied by(8.5％) increased sales.

0.4%(2.8％)

0.7%(2.9％) The index improved due to the△ 0.7%(1.6％)

0.0%
1.2 times

5.4 times

6.2 times

4.9 times

5.0 times

15.1%

15.2%

3.3 times

3.2 times

JPY △25.19

JPY 0.50

Sales
Accounts receivable
Cost of sales
Inventories
Shareholders' equity
Total assets
Interest-bearing debt
Shareholders' equity
Net income

Share value

Price earnings ratio(PER)

Earnings per share

Price book value ratio(PBR)

Book value per share

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

(2.2％) The index improved due to the

0.0%

1.1 times

Total assets

Comments(1.5％)Sales
Net income(Before amortizationof goodw ill, etc.)△ 0.7%

Operating profit

Shares outstanding

FY2021/2Q(Before amortizationof goodw ill, etc.)

2.5 times

2.2 times

recovery of businessperformance accompanied by(2.1％) increased sales.

Stock prices：
End of FY2020：JPY 1,296
End of FY2021/2Q：JPY 1,159

13

【Reference】 Quarterly Financial Results
Domestic Business

Unit: Hundred million JPY

1,200

EQD

1,072.4
110.8

1,080.8
110.2

1,080.1
109.5

800

905.4
100.0

949.3
106.1

987.9
103.1

600

419.6

460.4

508.6

421.5

561.3

543.7

383.9

423.6

424.4

453.0

409.3

426.9

1Q

2Q

3Q

4Q

1Q

2Q

1,000

Net Sales

Overseas Business

400
200
0

FY2020Operating
Profit (*)

40
30
20
10
0

* Operating Profit before
amortization of goodwill, etc.

33.0
1.8

33.4
2.5

14.5

15.5

10.4
0.6
5.4
4.4

16.8

15.4

1Q

2Q

3Q

FY2020© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

4Q

3Q

4Q

FY2021

Domestic Business

Unit: Hundred million JPY

3Q

Overseas Business

33.0
1.1

34.8
3.5

11.9
20.0

20.1
11.3
4Q

1Q

EQD

28.3
6.2
6.0
16.1
2Q

FY202114

【Reference】 Stock Price Trend(JPY)

Closing priceon Nov 8

FY2021
Year high value: 1,347 JPY (Jan 8)
Year low value: 867 JPY (Aug 20)

1,017JPY(as of Nov 8, 2021)

1800

(JPY)

1600

October 2017
Established“Mitsubishi Logisnext Co.,Ltd”

45,00040,000

Nikkei Average
1400

1200

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

1000

800

35,000Logisnext share value

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

20,000600

15,000400

July 2015
Announced acquisitionof UniCarriers
Corporation shares

200

0

Jan 2008

Jan 2009

Jan 2010

Jan 2011

Jan 2012

Jan 2013© MITSUBISHI LOGISNEXT CO., LTD. ALL rights reserved.

Jan 2014

Jan 2015

Jan 2016

May 2017
Announced
integration with
UniCarriers
Corporation

Jan 2017

Jan 2018

Jan 2019

10,0005,000

Jan 2020

Jan 2021

015

Progress of Business Plan

President and CEO, Takashi Kubo

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

1.Forklift Market Trends 【Shipping】(Apr.- Sep.)
For the forklift market through 2Q FY2021, shipments were up 30.8% YoY to 1,036,000 units,
driven by the strong Chinese market, in addition to the strong recovery in Europe, the UnitedStates, and Asia.

Japan
100

86

90

89

87

80.0%

60

60.0%

42

40

47

44

43

(1,000 units)

100.0% 400

80

280

0

0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

136

454
390

438

400
300
190

237

347

442

229

100
0

151

134

Global Market
In FY2021/2Q

60.0%
40.0%
20.0%

China
45.0％

0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

15.3％

1,036
Europe(incl. Middle East
& Africa)

29.1％© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

516

502

100.0%
80.0%

237

260

261

60.0%

311
222

40.0%

200

20.0%

100

0.0%

0

20.0%
0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

Asia & Oceania(1,000 units)

124

140
120

110

100.0%
107

103

100

80.0%
69

60.0%

80
60

thousand units(Electric forklifts:
67.6%)

547

400
300

40.0%

Asia & Japan
Oceania 4.2％
6.4％
Americas

80.0%

600

154

170

498

500

FY2017 FY2018 FY2019 FY2020 FY2021

100.0%

700

80.0%

0

(1,000 units)

720

283

100

China
800

301

60.0%

40.0%
20.0%

305

100.0% 600

300
200

45

20

200

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

500

EuropeAmericas

53

62

56

40.0%

46

40
20.0%

20
0

0.0%
FY2017 FY2018 FY2019 FY2020 FY2021

Markets units
Percent electric forklifts

172.Forklift Market Trends 【Orders】(Apr.- Sep.)
Although the reactionary growth of COVID-19 is settling down, demand remains strong(+16.0% YoY to 306,000 units, excluding the Chinese market +45.3% YoY to 198,000 units).
Order intake（excl. Class III*）

Year-on-year+ 108.1％(Unit: Thousand units)

250.0
200.0
150.0

201.1
152.0
19.7

140.9
17.9

157.2
18.7

136.1

61.4

135.9

21.1

16.8

105.7

55.2

13.0
36.5

50.3

61.5
19.8

18.4

100.0

58.5

53.7

50.0

51.3

48.4

57.6

44.1

37.6

49.1

22.5

20.9

19.5

20.0

18.6

18.1

0.0

162.8

26.0
74.4

220.0
27.8

Year-on-year+ 45.3％

197.5
28.4

86.7

70.7

60.4
80.4

83.2

77.9

20.3

22.3

20.5

FY2019/1Q FY2019/2Q FY2019/3Q FY2019/4Q FY2020/1Q FY2020/2Q FY2020/3Q FY2020/4Q FY2021/1Q FY2021/2Q
Japan

Americas

Europe(incl. Middle East & Africa)

APAC

Year-on-year+ 8.0％(Unit: Thousand units)

200.0

0.0

83.2

75.5

75.3

69.2

83.2

75.5

75.3

69.2

118.9

127.7

118.9

127.7

109.1
109.1

138.8 128.4
138.8

128.4

Year-on-year△ 15.2％

108.3
108.3

FY2019/1Q FY2019/2Q FY2019/3Q FY2019/4Q FY2020/1Q FY2020/2Q FY2020/3Q FY2020/4Q FY2021/1Q FY2021/2Q
China※Class III : Self-propelled electric small lift
© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

18

3.Mid-term Plan “Logisnext SolutionS 2023”■Logisnext SolutionS 2023（『LS23』）
Build upBusiness
Resilience

Basic
PolicyCorporate
VisionAccelerate
GrowthStrategy

Further Develop
Our Global And
Regional
Branding
Strategies

Moving the world forward as the leading provider ofinnovative logistics and material handling solutions■3 Basic Policies
Build up BusinessResilience
Strengthen the existing
business
Improve variable and fixed
costs© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

Accelerate Growth
Strategy
Expand our solutions
portfolio to meet thegrowing 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” brandand improve brandawareness for all of ourbrandsCreate a new corporate
culture under “Logisnext”
19

4.Build up Business Resilience■ Responding to rising material costs➢ Sales price revisions for forklifts and other equipment•

Changes such as the rise in steel prices because of the increasing prices of iron ore and coal, which are
raw materials, and the increase in production due to expectations of economic recovery after COVID-19,
have had a significant impact on material procurement.

•

Our company has also raised the selling prices of forklifts and other equipment in many parts of the worldin response to the increasing prices of raw materials.

Steel material（JPY/kg）

Lead（JPY/kg）

145

340
Cold Rolled Steel Sheet

135

320

Hot Rolled Steel Sheet
125

Plate

300

115
280
105
260

95

240

85
75
19/01

19/07

20/01

20/07

21/01

21/07

Based on market price information from the Japan Metal Daily© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

220
19/01

19/07

20/01

20/07

21/01

21/07

Based on information provided by Nikkan Shikyo Tsushinsha

205.Build up Business Resilience -Strengthen the existing business-■ Expansion of EQD business➢ Recovery and expansion of rental demand in the U.S.
•

In the U.S, rental demand for construction and industrial machinery is increasing as the economy
recovers from COVID-19. The equipment rental market is expected to surpass that of 2019 by 2022
and continue to grow steadily thereafter.

•

Against the backdrop of a favorable market environment, EQD is experiencing a strong recovery not onlyin the auto body sales, parts and service sectors, but also in the rental sector, which is operating at ahigh level. EQD will continue to invest aggressively while keeping an eye on demand trends.

(Unit: Hundred million JPY)

Rental Market for Construction andIndustrial Equipment (U.S.)EQD Operating profit andoperating profit margin

8

7.0%
6.0%

6

USB$
50

5.0%
4.0%

40

4
3.0%
2.0%

2

20
1.0%

0

30

FY2019/3Q

FY2019/4Q

FY2020/1Q

FY2020/2Q

FY2020/3Q

FY2020/4Q© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

FY2021/1Q

FY2021/2Q

0.0%

2020

2021

2022

2023

Based on American Rental Association's market outlook report21

6.Build up Business Resilience -Improve variable and fixed cost-■ Logistics heightening➢ Logistics MaaS verification project••

Establish a system where shippers collaborate withcarriers, insurance companies, etc., and all parties
involved enjoy the benefits (reduced transportation
costs, reduced accidents, reduced insurance
payments, etc.).

Mounting
manufacturer /Hydraulicmanufacturer

IT business
operator

The goal is to optimize costs and increasingtransportation efficiency by further improving QCD.

Verification of safety and efficiency by monitoring
mounted equipment

Mitsubishi
Logisnext(shipper)Insurancecompany

Forwarding
agent

Construction and verification of QCD
improvement package services
Logistics Information Platform
Birth Control System

IT business
operator

Tailgate lifter

Winged truck
QCD Check Sheet
QCD evaluation

Hydraulic IoT Unit

Attendance
management

Drive recorder

Forwarding
agent

Shipper

Oil pressure, current,
temperature, speed

Digital tachometer

Operations Manager
Operations Management

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

Insurancecompany

Operation
Management
Alert

22

7. Accelerate growth strategy -Expand our solutions portfolio-■ Labor saving and automation➢

Joint Development of Japan's First Laser-guided Unmanned Forklift Truck for Frozen and Refrigerated Warehouses•

Joint development of laser-guided unmanned forklift truck for Frozen and Refrigerated Warehouses
with Nichirei Logistics Group Inc. and Mitsubishi Heavy Industries, Ltd.

•It solves issues such as the burden on workers in low-temperature environments and the uncertainty ofbusiness operations due to chronic labor shortages.
The introduction of laser-guided unmanned forklifts has enabled automaticnighttime transport to refrigerated cargo handling rooms at -10°C.
■ Concern about stable business operation due to chronic labor shortage.
■ Worried about operator fatigue due to the harsh cold working environment andnight work.
■ Acquisition of forklift operation skills is time-consuming and expensive.
■ Worried about forklift operation in a narrow warehouse.

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

<Automation>

Issues

Effects■ Labor saving and effective utilization of manpower
Automation of nighttime transport saves manpower and allows for effective
use of manpower.
■ Safety and logistics quality improvement
Workers can be freed from a harsh work environment. Safety and logistics
quality are also improved.
■ Best suited for installation in existing warehouses
The laser-guided AGF system requires no floor construction. Layout changes
are also easy.
■ Promotes automation of the cold chain
By introducing the latest automated equipment ahead of competitors, we can stayahead in the industry.

23

8. Accelerate growth strategy -Expand our solutions portfolio-■ New Product Launch➢ Highly Efficient Unmanned Forklift Truck Launch of “Platter Auto H Type”•

Released the laser-guided unmanned forklift truck "Platter Auto H Type" on August 24. This highly
efficient unmanned forklift truck achieves the same traveling, lifting speed, and turning radius asmanned forklifts, making it ideal for logistics warehouses.

•

We aims to continue to expand its market presence by responding to demands for automation inlogistics sites to cope with labor shortages, the expansion of the e-commerce market, and non-contact
and automation in logistics warehouses.
Space Saving
Effective use of the warehouse area is possible

Platter Auto H Type

Right-angle stacking aisle width of 2.7m is achieved (for W1100XL1100 pallets),
enabling rack delivery optimized for pillar pitch in multi-tenant warehouses.
In addition, the height of the bottom row of racks can be set the same as that ofmanned forklifts at -50 mm compared to our standard AGF.
If the same number of racks are used, the space savings of approximately 16%
compared to our standard AGF will enable effective utilization of the warehouse area.
Platter Auto H TypeStandard AGF■ Packing type:W1100XL1100XH1000mm■ Load capacity:1000kg/P■ Pallet capacity:96 Pallets

Space saving
Back
Opening Width© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

of about 16%

Back
Opening Width※When storing the same number of units24

9. Accelerate growth strategy -Expand our solutions portfolio-■ AI Product Launch➢ Forklift AI human detection system "Good Finder" is favorable•

The forklift truck AI human detection system "Good Finder", developed in conjunction with Mitsubishi
Heavy Industries, was launched on September 13 and has since received a number of positive reviews.

•

Aims to further expand sales by increasing the number of compatible models with this system to improving
the workability of forklifts, reduce accidents caused by forklifts and realize a safer work environment.

Nearside cameras
×8 units

Front/Rear cameras
×3 units

Main Features and Functions• The AI automatically analyzes images from shortand long-range surveillance cameras installed
throughout the vehicle and sends out warnings when
it detects the approach of a person.

‼

• Alerts the operator to detection results with sound(alarm) and light (LED indicator lights).
• Automatically switches between surroundings anddistant views depending on the vehicle speed.
• The system is also equipped with a launch control
function that prevents the vehicle from starting whilea person is detected.

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

25

10. Accelerate growth strategy -Expand our solutions portfolio-■ Toward the realization of an AI terminal①➢ Remotely Operated RTG* (Hybrid Type, Carbon Neutral Type Specification)•

Enhancing the functions of remote-controlled RTGs to realize "human-assisted AI terminals" as anenhancement of the functions of international container strategic ports.
(1) Improving the working environment for dockworkers(2) Improvements in automated driving technology and high-capacity data communication technology※RTG : Rubber Tired Gantry crane© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

Image
26

11. Accelerate growth strategy -Expand our solutions portfolio-■ Toward the realization of an AI terminal②➢ Enhancements to CTMS (Container Terminal Management System)•

Relieve traffic congestion in port areas(1) Automatic vehicle number reading when using ETC(2) Linkage with advance reservation system (WEB)(3) Automatic Container Number Recognition Device(4) Barcode, touch panel input device, etc.

Onboardterminal

Shipper
Yard Operations
WLAN

EDI Server

DB Server

Network

Yard Planning

Ship Planning

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

27

12. Further develop our global and regional branding strategies -ESG-■ Efforts toward the realization of a decarbonized society➢ Creation of Carbon Neutral Port (CNP)•

In cooperation with Mitsubishi Heavy Industries, we will contribute to the CNP, which is being studied by
the Ministry of Land, Infrastructure, Transport and Tourism to reduce CO2 emissions at ports.

Related areas
Affordable and clean energy

Mitigating traffic
congestion in the bay area

Climate action➢ Carbon-neutral RTG
PM(g/kwh) particulate matter••

Equipped with a Tier-4 exhaust gas
reduction engine
Can be converted to hydrogen fuelcell in the future

Compliant with Tier 4
exhaust gas regulations
New type power generation
180KVA

Conventional Hybrid RTG
Nox(g/kwh)
Nitrogenoxide

Conventional
generator220KVA
Tier 4 regulation
Carbon-neutral RTG© MITSUBISHI LOGISNEXT CO.,LTD. All rights reserved.

Can be converted to hydrogenfuel cells in the future28

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:
Nobuaki Kariya
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.

29

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