February 6, 2020
To All Concerned:
Company Name:
Representative:
Contact:

Mitsubishi Logisnext Co., Ltd.
President and CEO Takashi Mikogami(Code Number: 7105, First Section of Tokyo Stock Exchange)
General Manager of General Affairs Division, Administration
Headquarters,
Yasuji Nakamura(TEL: 075-956-8603)

Notice of Business Transfers Between Overseas Subsidiaries and Reorganization of European Subsidiaries through an
Absorption-Type Merger
At the Meeting of the Board of Directors held on February 6, 2020, it was decided as noted below for our company to carry out
further reorganization of our Group companies, which include business transfers and an absorption-type merger between ouroverseas subsidiaries in Europe.
Details
1. Reasons and Overview of Reorganization
After the business integration of our company and UniCarriers Corporation through a corporate split implemented on October 1,
2017, our company’s subsidiary Mitsubishi Logisnext Europe B.V. (hereinafter referred to as “MLE”) was reorganized as aholding company in Europe as of April 1, 2018. It was recently decided to carry out further reorganization of our European
subsidiaries by the following procedures, to advance the transition of MLE to become a presiding company in European
business with the goals of improving its management efficiency, unifying its strategies, and increasing the speed of its
decision-making capabilities, through the integration and reorganization of the development, production, and sales
functions, which are now dispersed among former Mitsubishi Nichiyu and UniCarriers companies in Europe, and theconsolidation of Headquarters management and sales supervision functions in MLE.
• UniCarriers Europe A.B. (hereinafter referred to as “UCSWE”), which is a subsidiary of MLE (in other words, a subsubsidiary of our company) will specialize in production by carrying out business transfers of its domestic sales
functions in Sweden to a subsidiary of UCSWE, and of its Headquarters and sales supervision functions, including all
subsidiary shares possessed by UCSWE, to MLE.
• The shares of Mitsubishi Caterpillar Forklift Europe B.V. (hereinafter referred to as “MCFE”), which is a subsidiary ofMLE (in other words, a sub-subsidiary of our company), will be transferred from its minority shareholder Caterpillar
Industrial Inc. to MLE, making it a 100% subsidiary, and MLE will then carry out an absorption-type merger withMCFE (hereinafter referred to as “this merger”).
As a result of the above procedure, three production base companies in Europe will be positioned in a parallel arrangement
directly under MLE, the cross-functional collaboration of production and procurement activities will be strengthened, andPMI* activities such as joint purchasing, joint development, and production optimasation among factories will beaccelerated. Additionally, the supply of products to sales subsidiaries and sales distributors located in European countries
will be managed in an integrated manner.
In terms of product planning and development, coordination between the European Design Center located in Finland andour company’s Global Design Center in Japan will serve to strengthen our development competitiveness. It will also
advance the expansion of our AGV* product lineup, with future expectations of significant demand for labor-saving andmanpower-saving products, and the enhancement of our related user-friendly software.
* PMI (Post Merger Integration): Process for integration after conclusion of an M&A* AGV (Automated Guided Vehicle): A guided vehicle which operates without human control1[Summary Diagram of Reorganization in Europe]
Mitsubishi
Logisnext

BeforeReorganization(2/6/2020)

MLE

UCSWE
(Sweden)

UCMS(Spain)UC direct sales
companies
Leasing companies

Rocla
Danmark(Direct sales)

Mitsubishi
Logisnext

AfterReorganization(4/1/2020)

MLE

Caterpillar

MCFE(Netherlands)

Rocla Oy
(Finland)Rocla Rus
(Direct sales)(UCSWE)
Direct sales
companies
Leasingcompanies

RoclaSolutions(Direct sales)(Rocla Oy)(UCMS)

Rocla
Danmark

Rocla Rus

* UCMS ... Abbreviation for UniCarriers Manufacturing Spain S.A.
* Changes in trade names are planned for the three production basecompanies and some direct sales companies.

... Production base

2. Summary of this Merger(1) Schedule of this Merger
Conclusion date of absorption-type merger agreement
Scheduled implementation date (effective date) ofabsorption-type merger

March 31, 2020 (scheduled)
April 1, 2020 (scheduled)(2)

Method of this Merger
It is an absorption-type merger in which MLE will be the surviving company and MCFE will be the absorbed company.

(3)

Content of Allocation Associated with this Merger
This merger will be carried out between 100% subsidiaries of our company, so there will be no monetary or other delivery
associated with it.

3. Overview of the Companies Involved in this Merger (as of February 6, 2020)
Surviving Company

Absorbed CompanyLocation

Mitsubishi Logisnext Europe B.V.
Enschede,the Netherlands.

Mitsubishi Caterpillar Forklift Europe B.V.
Almere,the Netherlands.

(3)

Title and Name of Representative

President Hiroyuki Shimma

President Hiroyuki Shimma(4)Business Content

Overall management of European region

Sales and service of forklifts and other(5)Capital6.808 million EUR

148.151 million EUR(6)Date of Establishment

October 30, 1995

July 1, 1992

(7)

Number of Shares Issued

15,001 shares

326,476 shares(8)

Settlement Term

Term ending March 2019(9)

Major Shareholders (Investors) andMitsubishi Logisnext Co., Ltd.

(1)

Name

(2)

equipment

100%

Shareholding (Investment) Ratios(10)

Mitsubishi Logisnext Europe B.V. 97.55%
Caterpillar Industrial Inc.

2.45%

Financial Status and Operating Results for Previous Business Year

Consolidated Net Assets
Consolidated Total Assets
Consolidated Net Assets per Share
Consolidated Net Sales
Consolidated Operating Profit
Consolidated Ordinary Profit

266.709 million EUR
497.248 million EUR
17,780.6 EUR
320.157 million EUR
7.723 million EUR
8.805 million EUR

20.312 million EUR
192.525 million EUR
62.22 EUR
320.503 million EUR
3.449 million EUR
2.834 million EUR

6.93 million EUR

3.043 million EUR

462 EUR

9.32 EUR

Consolidated Current Net Profit Attributable
to Shareholders of Parent Company
Consolidated Current Net Profit per Share2

4. Situation After this Merger
This merger will not result in any changes to MLE's trade name, location, title or name of representative, business content,
capital stock, number of shares outstanding, or settlement term.
5. Outlook for the Future
The effects which this merger will have on consolidated results are currently under review, and announcements will be madepromptly if any matters which should be disclosed are identified.
End3