January 16, 2020
To Whom It May Concern
Company
Representative

Contact

Mitsubishi Logisnext Co., Ltd.
Takashi Mikogami, President and Chief
Executive Officer(Ticker: 7105, First Section of the Tokyo
Stock Exchange)
Yasuji Nakamura, General Affairs
General Manager of the Administration
Headquarters(TEL: 075-956-8603)

Notice Concerning Policy Decisions on Changes in Consolidated Subsidiaries (Incorporation), Absorption-Type
Split of Consolidated Subsidiaries, and Reorganizing of Sales Subsidiaries through an Absorption-Type Merger ofConsolidated Subsidiaries
We would like to announce as follows that at the Board of Directors' meeting held on January 16, 2020, we developed
a plan to reorganize the Company’s sales subsidiaries by establishing nine subsidiaries (hereinafter referred to as the “ninesplit preparation companies”) with May 15, 2020 (scheduled) as the date of incorporation, transferring the businesses otherthan real estate management of the 11 domestic sales companies (hereinafter referred to as the “11 domestic sales
companies”), consolidated subsidiaries of the Company, to the nine split preparation companies for the company split by
way of an absorption-type split (hereinafter referred to as the “company split”) on October 1, 2020 (scheduled) as theeffective date, and the Company’s absorbing the 11 domestic sales companies by an absorption-type merger (hereinafterreferred to as the “merger”) subject to the cessation of the effect of the company split.
Since the company split is an absorption-type split between the wholly-owned subsidiaries of the Company and themerger is a simplified/summary absorption-type merger between the Company and its wholly-owned subsidiaries, we omit
certain disclosure items and details.
Note
I. Changes in Consolidated Subsidiaries (Incorporation) and the Company Split
1. Purpose
After the management integration of the Company and Unicarriers Co., Ltd. by means of a company split on October 1,
2017, we have maintained two sales networks, the former Nichiyu Mitsubishi and the former Unicarriers, due to differences inmodels and products offered. However, as we determined that it would be necessary to build a stronger sales network in orderto provide high-quality, high-performance products and services to customers, we decided to reorganize domestic sales
subsidiaries and consolidate the sales network through the incorporation of the nine split preparation companies (changes ofsubsidiaries) and the company split.
2. Overview of the nine split preparation companies to be established(1) Name(2) Address(3) Title and name of therepresentative(4) Businesses(5) Capital stock(6) Date of incorporation(7) Major shareholders(investors) andshareholding(investment) ratio

Split preparation company (1)Logisnext Hokkaido Split
Preparation Co., Ltd. (Note 1)
6-3-1 Ryutsu Center, Shiroishi-ku,
Sapporo-shi, Hokkaido (Note 2)

Split preparation company (2)Split preparation company (3)Logisnext Tohoku Split
Logisnext Kanshinetsu Split
Preparation Co., Ltd. (Note 1)
Preparation Co., Ltd. (Note 1)
1-8-19 Akebono-cho, Konan-ku,
3-2-8 Oroshimachi-higashi,
Niigata-shi, Niigata (Note 2)
Wakabayashi-ku, Sendai-shi,
Miyagi (Note 2)
Hirokazu Watanabe, President andHirokazu Watanabe, President and Hirokazu Watanabe, President andChief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Sales of and services for logistics system products such as battery forklifts, engine forklifts, container carriers,transfer cranes, civil engineering and construction equipment, transport robots, automated warehouses and theWMS (Warehouse Management System)
15 million yen
May 15, 2020 (scheduled)
Mitsubishi Logisnext Co., Ltd. 100%1

(1) Name(2) Address(3) Title and name of therepresentative(4) Businesses(5) Capital stock(6) Date of incorporation(7) Major shareholders(investors) andshareholding(investment) ratio(1) Name(2) Address(3) Title and name of therepresentative(4) Businesses

Split preparation company (4)Split preparation company (5)Split preparation company (6)Logisnext Tokyo Split Preparation
Logisnext Chubu Split
Logisnext Kinki Split Preparation
Co., Ltd. (Note 1)
Preparation Co., Ltd. (Note 1)
Co., Ltd. (Note 1)
6-1-1 Heiwajima, Ota-ku, Tokyo
1-52 Shinyoshi-cho, Nakagawa35-2 Dainichi-higashimachi,(Note 2)ku, Nagoya-shi, Aichi (Note 2)
Moriguchi-shi, Osaka (Note 2)
Hirokazu Watanabe, President andHirokazu Watanabe, President and Hirokazu Watanabe, President andChief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Sales of and services for logistics system products such as battery forklifts, engine forklifts, container carriers,transfer cranes, civil engineering and construction equipment, transport robots, automated warehouses and theWMS (Warehouse Management System)
15 million yen
May 15, 2020 (scheduled)
Mitsubishi Logisnext Co., Ltd. 100%

Split preparation company (7)Split preparation company (8)Split preparation company (9)Logisnext Chugoku Split
Logisnext Shikoku Split
Logisnext Kyushu Split
Preparation Co., Ltd. (Note 1)
Preparation Co., Ltd. (Note 1)
Preparation Co., Ltd. (Note 1)
4-6-61 Kanon-shinmachi, Nishi-ku,
1645-1 Mimaya-cho, Takamatsu1-38-24 Kanenokuma, Hakata-ku,
Hiroshima-shi, Hiroshima (Note 2)
shi, Kagawa (Note 2)
Fukuoka-shi, Fukuoka (Note 2)
Hirokazu Watanabe, President andHirokazu Watanabe, President and Hirokazu Watanabe, President andChief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Chief Executive Officer (Note 3)
Sales of and services for logistics system products such as battery forklifts, engine forklifts, container carriers,transfer cranes, civil engineering and construction equipment, transport robots, automated warehouses and theWMS (Warehouse Management System)
15 million yen
May 15, 2020 (scheduled)(5) Capital stock(6) Date of incorporation(7) Major shareholders(investors) and
Mitsubishi Logisnext Co., Ltd. 100%
shareholding(investment) ratio(Note 1) The names of the nine split preparation companies will be changed to Logisnext Hokkaido Co., Ltd., Logisnext Tohoku Co., Ltd.,
Logisnext Kanshinetsu Co., Ltd., Logisnext Tokyo Co., Ltd., Logisnext Chubu Co., Ltd., Logisnext Kinki Co., Ltd., Logisnext
Chugoku Co., Ltd., Logisnext Shikoku Co., Ltd., and Logisnext Kyushu Co., Ltd as of October 1, 2020, provided that the company
split and the merger take effect.
(Note 2) The locations of the nine split preparation companies have not yet been determined after the company split and the reorganization ofsales subsidiaries (hereinafter referred to as the “reorganization of sales subsidiaries”) as a result of the merger that will take effect on
October 1, 2020 (scheduled).
(Note 3) The representatives of the nine companies will be changed after the reorganization of the sales subsidiaries.

3. Overview of the company split(1) Schedule of the company split
Conclusion of the absorption-type company split agreement
Scheduled date of the implementation of the absorptiontype split (Effective date)June 4, 2020 (scheduled)
October 1, 2020 (scheduled)(2) Method of the company split
This is an absorption-type split with the nine split preparation companies as successor companies and the 11 domestic sales
companies as splitting companies.

2(3) Allotment concerning the company split
As the company split will be effected between the wholly-owned subsidiaries of the Company, we will not provide cash orother consideration for the company split.
(4) Rights and obligations succeeded to by the successor companies
The nine split preparation companies shall succeed to the assets, debts and other rights and obligations held by the 11 domestic
sales companies in connection with their businesses other than real estate management on the effective date of the company
split.
(5) Increase or decrease in capital due to the company split
There is no increase or decrease in the capital stock due to the company split.
4. Situation after the company split
We will establish nine sales companies in Japan as wholly-owned subsidiaries of the Company.

(9)Logisnext Kyushu Co., Ltd. (Kyushu area)(8)Logisnext Shikoku Co., Ltd. (Shikoku area)(7)Logisnext Chugoku Co., Ltd. (Chugoku area)(6)Logisnext Kinki Co., Ltd. (Kinki area)(5)Logisnext Chubu Co., Ltd. (Chubu area)(4)Logisnext Tokyo Co., Ltd. (Metropolitan area)

Mitsubishi Logisnext(3)Logisnext Kanshinetsu Co., Ltd.
(Northern Kanto and Shinetsu areas)(1)Logisnext Hokkaido Co., Ltd. (Hokkaido area)(11)Logisnext Unicarriers Co., Ltd.

(10)Logisnext Kyushu Co., Ltd.

(9)Logisnext Shikoku Co., Ltd.

(8)Logisnext Chugoku Co., Ltd.

(7)Logisnext Kinki Co., Ltd.

(6)Logisnext Chubu Co., Ltd.

(5)Logisnext Shizuoka Co., Ltd.

(4)Logisnext Shinetsu Co., Ltd.

(2)Logisnext Tohoku Co., Ltd. (Tohoku area)<After reorganization>

Mitsubishi Logisnext(3)Logisnext Tokyo Co., Ltd.

(2)Logisnext Tohoku Co., Ltd.

(1)Logisnext Hokkaido Co., Ltd.

<Current>

II. The Merger
1. Purpose
By shifting the real estate management to the Company, the nine domestic sales companies, which will be newly established asa result of the incorporation of the nine split preparation companies and the company split, will be able to specialize in sales
and services, their primary business.
2. Overview of the merger(1) Schedule of the merger
Date of board resolution for approval of the absorption-type
June 4, 2020 (scheduled)merger agreement
Conclusion of the absorption-type merger agreement
June 4, 2020 (scheduled)
Scheduled date of the implementation of the absorption-type
October 1, 2020 (scheduled)merger (Effective date)(Note) Since the merger falls under the category of a simplified merger as prescribed in Article 796, Paragraph 2 of theCompanies Act for the Company and a summary merger as prescribed in Article 784, Paragraph 1 of the Companies Act
for the 11 domestic sales companies, we will not hold a general meeting of shareholders for approval of the absorptiontype merger agreement of the respective companies.
(2) Method of the merger
This is an absorption-type merger with the Company as a surviving company and the 11 domestic sales companies after as thecompany split absorbed companies.
(3) Allotment concerning the merger
As the merger will be effected between the parent company and its wholly-owned subsidiaries, we will not provide cash orother consideration for the merger.
(4) Handling of share warrants and bonds with warrants of absorbed companies
Not applicable33. Overview of the companies involved in the merger (As of January 16, 2020)
(1)
(2)

Name
Address(3)

Title and name of therepresentative
Businesses

(4)

(5)
(6)
(7)

Capital stock
Date of incorporation
Number of shares
outstanding

(8)
(9)

Closing date
Major shareholders(investors) andshareholding(investment) ratio
Financial position andoperating results for theprevious fiscal year
Net assets
Total assets
Net assets per share
Net sales
Operating income
Ordinary income
Profit attributable toowners of parent
Net income per share(10)

Surviving company
Mitsubishi Logisnext Co., Ltd.
2-1-1 Higashi-kotari, Nagaokakyo-shi, Kyoto
Takashi Mikogami, President and Chief
Executive Officer
Development, design, manufacturing andsales of logistics system products such asbattery forklifts, engines
forklifts, transport robots, automatedwarehouses
and LAN, andcivil engineering and construction
equipment, agricultural and forestry
machinery, electriccars, monorails, industrial engines andtransmissions
4,898 million yen
July 31, 1937
Common stock: 106,500,013 sharesClass A shares: 0 shares
Total: 106,500,013 shares
March 31
Mitsubishi Heavy Industries Forklift, Engine& Turbocharger Holdings, Ltd.
Common stock:64.68%

Absorbed company (1)Logisnext Hokkaido Co., Ltd.
6-3-1 Ryutsu Center, Shiroishi-ku, Sapporoshi, Hokkaido
Norio Kinoshita, President and Chief
Executive Officer
Sales of and services for logistics systemproducts such as battery forklifts, engine
forklifts, container carriers, transfer cranes,
civil engineering and construction
equipment, transport robots, automatedwarehouses and the WMS (Warehouse
Management System)

40 million yen
September 14, 1972
240,000 shares

Mitsubishi Logisnext Co., Ltd. 100%

(Year ended March 2019)
68,503 million yen (Consolidated)
367,662 million yen (Consolidated)
619.85 yen (Consolidated)
448,381 million yen (Consolidated)
13,156 million yen (Consolidated)
13,714 million yen (Consolidated)-105 million yen
1,080 million yen-440.91 yen
2,270 million yen
70 million yen
73 million yen

7,077 million yen (Consolidated)

52 million yen

66.48 yen (Consolidated)

220.68 yen

4

(1)
(2)

Name
Address(3)

Title and name of therepresentative
Businesses

(4)

(5)
(6)
(7)
(8)
(9)

(10)

Capital stock
Date of incorporation
Number of shares
outstanding
Closing date
Major shareholders(investors) andshareholding(investment) ratio
Financial position andoperating results for theprevious fiscal year
Net assets
Total assets
Net assets per share
Net sales
Operating income
Ordinary income
Profit attributable toowners of parent
Net income per share

Absorbed company (2)Logisnext Tohoku Co., Ltd.
3-2-8 Oroshimachi-higashi, Wakabayashi-ku,
Sendai-shi, Miyagi
Masanori Takeuchi, President and Chief
Executive Officer
Sales of and services for logistics systemproducts such as battery forklifts, engine
forklifts, container carriers, transfer cranes,
civil engineering and construction
equipment, transport robots, automatedwarehouses and the WMS (Warehouse
Management System)
45 million yen
September 17, 1991
900 shares

Absorbed company (3)Logisnext Tokyo Co., Ltd.
6-1-1 Heiwajima, Ota-ku, Tokyo
Hiroshi Kusaba, President and Chief
Executive Officer
Sales of and services for logistics systemproducts such as battery forklifts, engine
forklifts, container carriers, transfer cranes,
civil engineering and construction
equipment, transport robots, automatedwarehouses and the WMS (Warehouse
Management System)
70 million yen
October 18, 1967
1,505,401 shares

March 31
Mitsubishi Logisnext Co., Ltd. 100%

(Year ended March 2019)
817 million yen
3,008 million yen
908,708.61 yen
5,471 million yen
181 million yen
192 million yen-652 million yen
11,774 million yen-435.65 yen
27,191 million yen
545 million yen
561 million yen

118 million yen

408 million yen

131,223.57 yen

272.89 yen

5

(1)
(2)

Name
Address(3)

Title and name of therepresentative
Businesses

(4)

(5)
(6)
(7)
(8)
(9)

(10)

Capital stock
Date of incorporation
Number of shares
outstanding
Closing date
Major shareholders(investors) andshareholding(investment) ratio
Financial position andoperating results for theprevious fiscal year
Net assets
Total assets
Net assets per share
Net sales
Operating income
Ordinary income
Profit attributable toowners of parent
Net income per share

Absorbed company (4)Logisnext Shinetsu Co., Ltd.
1-8-19 Akebono-cho, Konan-ku, Niigata-shi,
Niigata
Mitsunobu Sato, President and Chief
Executive Officer
Sales of and services for logistics systemproducts such as battery forklifts, engine
forklifts, container carriers, transfer cranes,
civil engineering and construction
equipment, transport robots, automatedwarehouses and the WMS (Warehouse
Management System)
40 million yen
April 5, 1979
80,000 shares

Absorbed company (5)Logisnext Shizuoka Co., Ltd.
7-8-1 Magarikane, Suruga-ku, Shizuoka-shi,
Shizuoka
Masaki Yamada, President and Chief
Executive Officer
Sales of and services for logistics systemproducts such as battery forklifts, engine
forklifts, container carriers, transfer cranes,
civil engineering and construction
equipment, transport robots, automatedwarehouses and the WMS (Warehouse
Management System)
25 million yen
February 12, 1969
2,500 shares

March 31
Mitsubishi Logisnext Co., Ltd. 100%

(Year ended March 2019)
219 million yen
1,355 million yen
2,739.68 yen
2,887 million yen
149 million yen
152 million yen-37 million yen
1,071 million yen-14,888.53 yen
2,464 million yen
49 million yen
52 million yen

85 million yen

36 million yen

1,066.84 yen

14,408.43 yen

6Absorbed company (6)
(1)

Name

(2)

Address(3)(4)

Absorbed company (7)Logisnext Chubu Co., Ltd.

Logisnext Kinki Co., Ltd.

1-52 Shinyoshi-cho, Nakagawa-ku, Nagoya-

2-3-13 Chibune, Nishiyodogawa-ku, Osaka-shi, Aichi

shi, Osaka

Title and name of the

Naohisa Fujisaki, President and Chief

Shuji Iio, President and Chief Executive

representative

Executive Officer

OfficerBusinesses

Sales of and services for logistics system

Sales of and services for logistics systemproducts such as battery forklifts, engine

products such as battery forklifts, engine

forklifts, container carriers, transfer cranes,

forklifts, container carriers, transfer cranes,

civil engineering and construction

civil engineering and construction

equipment, transport robots, automatedequipment, transport robots, automatedwarehouses and the WMS (Warehouse

warehouses and the WMS (Warehouse

Management System)

Management System)(5)

Capital stock

60 million yen

70 million yen(6)Date of incorporation

September 1, 1972

September 17, 1966

Number

326,000 shares

677,979 shares

(7)

of

sharesoutstanding(8)

Closing date

(9)

Major

March 31

shareholders(investors)

andshareholding

Mitsubishi Logisnext Co., Ltd. 100%

(investment) ratio(10)

Financial position andoperating results for the(Year ended March 2019)previous fiscal year
Net assets

1,192 million yen-679 million yen

Total assets

5,728 million yen

6,971 million yen

3,726.50 yen-1,012.02 yen

11,075 million yen

17,873 million yen

Operating income

413 million yen

398 million yen

Ordinary income

429 million yen

409 million yen

266 million yen

317 million yen

832.54 yen

473.67 yen

Net assets per share
Net sales

Profit attributable toowners of parent
Net income per share7

Absorbed company (8)Absorbed company (9)

(1)

Name

Logisnext Chugoku Co., Ltd.

Logisnext Shikoku Co., Ltd.

(2)

Address

4-6-61 Kanon-shinmachi, Nishi-ku,

1645-1 Mimaya-cho, Takamatsu-shi, Kagawa

Hiroshima-shi, Hiroshima(3)(4)

Title and name of theHiroshi Obata, President and Chief

Tsukasa Abe, President and Chief Executive

representative

Executive Officer

OfficerBusinesses

Sales of and services for logistics system

Sales of and services for logistics systemproducts such as battery forklifts, engine

products such as battery forklifts, engine

forklifts, container carriers, transfer cranes,

forklifts, container carriers, transfer cranes,

civil engineering and construction

civil engineering and construction

equipment, transport robots, automatedequipment, transport robots, automatedwarehouses and the WMS (Warehouse

warehouses and the WMS (Warehouse

Management System)

Management System)(5)

Capital stock

40 million yen

23 million yen(6)Date of incorporation

October 17, 1964

May 7, 1969

Number of shares

300,000 shares

266,000 shares(7)

outstanding(8)

Closing date

(9)

Major shareholders(investors) andshareholding

March 31

Mitsubishi Logisnext Co., Ltd. 100%

(investment) ratio(10)

Financial position andoperating results for the(Year ended March 2019)previous fiscal year
Net assets

349 million yen

130 million yen

Total assets

3,548 million yen

1,685 million yen

1,164.41 yen

492.30 yen

Net sales

7,813 million yen

3,214 million yen

Operating income

153 million yen

133 million yen

Ordinary income

167 million yen

136 million yen

85 million yen

104 million yen

283.34 yen

393.78 yen

Net assets per share

Profit attributable toowners of parent
Net income per share8Absorbed company (10)Absorbed company (11)

(1)

Name

Logisnext Kyushu Co., Ltd.

Logisnext Unicarriers Co., Ltd.

(2)

Address

1-38-24 Kanenokuma, Hakata-ku, Fukuoka-

35-2 Dainichi-higashimachi, Moriguchi-shi,

shi, Fukuoka

Osaka

Title and name of theHiroshi Matsushita, President and Chief

Yoichi Yamaguchi, President and Chief

representative

Executive Officer

Executive Officer

Businesses

Sales of and services for logistics system

Sales of and services for logistics systemproducts such as battery forklifts, engine

products such as battery forklifts, engine

forklifts, container carriers, transfer cranes,

forklifts, container carriers, transfer cranes,

civil engineering and construction

civil engineering and construction

equipment, transport robots, automatedequipment, transport robots, automatedwarehouses and the WMS (Warehouse

warehouses and the WMS (Warehouse

Management System)

Management System)

(3)
(4)

(5)

Capital stock

36 million yen

90 million yen(6)Date of incorporation

June 10, 1969

February 17, 1949

Number of shares

152,000 shares

377,500 shares(7)

outstanding(8)

Closing date

(9)

Major shareholders(investors) andshareholding

March 31

Mitsubishi Logisnext Co., Ltd. 100%

(investment) ratio(10)

Financial position andoperating results for the(Year ended March 2019)previous fiscal year
Net assets

315 million yen

10,216 million yen

Total assets

4,250 million yen

38,176 million yen

2,076.64 yen

27,064.53 yen

Net sales

8,941 million yen

68,931 million yen

Operating income

148 million yen

3,018 million yen

Ordinary income

159 million yen

2, 330 million yen

88 million yen

1,507 million yen

584.12 yen

3,993.07 yen

Net assets per share

Profit attributable toowners of parent
Net income per share

4. Situation after the merger
There will be no change in the trade name, address, title and name of the representative, businesses, capital stock, number ofshares outstanding and closing date of the Company as a result of the merger.

III. Future Outlook
As the effective date of the absorption-type split and the merger is October 1, 2020 (scheduled), the effect of this event on the
consolidated results could arise from the year ending March 2021. It is currently under review, and we will make anannouncement as soon as any matter to be disclosed becomes clear.
End of the document9