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 14, 2021
To Shareholders with Voting Rights:
Takashi Kubo
President and CEO
Mitsubishi Logisnext Co., Ltd.
2-1-1, Higashi-kotari,
Nagaokakyo City, Kyoto

NOTICE OF
THE 120TH ANNUAL GENERAL MEETING OF SHAREHOLDERS
Dear Shareholders:
We are pleased to notify you that the 120th 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 in writing (by postal mail) or by electromagnetic means (via the Internet, etc.) in
advance.
When exercising voting rights in advance, please review the attached “Reference Documents for the
General Meeting of Shareholders” and exercise your voting rights by 4:50 p.m. on Monday, June 28, 2021,
Japan time.
1. Date and Time:
2. Place:

Tuesday, June 29, 2021 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
120th Fiscal Year (April 1, 2020 - March 31, 2021) 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 120th Fiscal Year
(April 1, 2020 - March 31, 2021)
Proposals to be resolved:
Proposal 1:
Dividend of Surplus
Proposal 2:
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 in writing 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 review the attached “Reference Documents for the General Meeting of Shareholders” and exercise yourvoting rights.
You can exercise your voting rights by one of the following three methods.


Attend the General Meeting of Shareholders
Please submit the enclosed Voting Rights Exercise Form at the reception desk.
Date and Time: Tuesday, June 29, 2021 at 10 a.m.
(Reception opens at 9 a.m.)

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: Monday, June 28, 2021 at 4:50 p.m., Japan time(Your mail must arrive by the deadline above.)

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: Monday, June 28, 2021 at 4:50 p.m., Japan time(Your votes must be entered by the deadline above.)

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.
However, our business results for the 120th fiscal year were harsh as described in the Business Report.
We regret to propose to pay a year-end dividend of 8 yen per share for the fiscal year under review, a decreaseof 5 yen from the 13 yen per share paid out in the previous fiscal year.
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:852,598,376 yen
3. Date that the dividend of surplus becomes effective
June 30, 2021

-4-

Proposal 2:

Election of Eight (8) Directors

The terms of office of all seven (7) Directors will expire at the conclusion of this year’s Annual General
Meeting of Shareholders. Taking this opportunity, we propose to elect eight (8) Directors by increasing thenumber of Directors by one (1) to strengthen our management structure.
The candidates are as follows:
No.

Name

1

Reappointment

Takashi Kubo

2

Reappointment

Shinji Fujita

3

Reappointment

Masayuki
Suematsu

4

Reappointment

Ken Okochi

5

Reappointment

Osamu Ando

6

Reappointment

Kyoko
Kobayashi

7

Newly appointed

TakashiMikogami

8

Newly appointed

Hirokazu
Watanabe

Positions and Responsibilities

Significant concurrent positions

President and CEO
Director
Senior Executive Officer
Division Head, General
Manager, Quality Management
OfficeDirector

External Director
Independent Director
External Director
Independent Director

External Director
Independent Director

Senior Vice President,
Mitsubishi Heavy Industries,
Ltd.
Head of Business Strategy
Office, Mitsubishi Heavy
Industries, Ltd.

Director
Director

Director

Senior Vice President
Head of Domestic Sales andMarketing Headquarters-5-

President, Shimadzu AccessCorporation
Lawyer, Partner, Irokawa Legal
Professional Corporation
External Audit and Supervisory
Board Member, KAWAKAMIPAINT MANUFACTURING
CO., LTD.
Executive Vice President,
President and CEO, Logistics,
Thermal & Drive Systems,
Mitsubishi Heavy Industries,
Ltd.

No.

Name
(Date of birth)

Takashi Kubo

(August 12, 1961)[Reappointment]

1

Brief career summary and important concurrent duties
Apr. 1984 Joined Mitsubishi Heavy Industries, Ltd.
Apr. 2009 Vice President, MITSUBISHI HEAVY INDUSTRIESFORKLIFT (DALIAN) CO., LTD.
Apr. 2010 President, Mitsubishi Caterpillar Forklift Asia Inc.
Oct. 2011 President, MITSUBISHI HEAVY INDUSTRIESFORKLIFT (DALIAN) CO., LTD.
Jun. 2013 Executive Officer, the Company
Oct. 2017 Division Head, General Manager, Quality Management
Office, the Company
Feb. 2019 Head of Overseas Sales and Marketing Headquarters, theCompany
Jun. 2019 Senior Executive Officer, the Company
Apr. 2020 Division Head, General Manager, Strategic Planning
Office, the Company
Jun. 2020 President, the Company (to present)CEO, the Company (to present)• Years of service as Director: 1• Attendance at Board of Directors meetings in fiscal year under review:

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

1,200

None

12 out of 12 meetings (100%)[Reason for nomination as Director and summary of expected roles]
As President, Mr. Takashi Kubo has overseen overall business execution of the corporate group, fulfilled his accountability
to the Board of Directors, and conducted decision making on important matters and management supervision appropriately.
He has demonstrated strong leadership in an aim to realize the corporate philosophy and achieve the Mid-Term Management
Plan, and has steadily evolved the Company through promoting global management and development of a highly transparent
organization.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him as a candidate for Director.
(Notes)1.
The figures for Mr. Takashi Kubo’s attendance at meetings of the Board of Directors are stated for meetings held in the fiscal
year under review after his assumption of office as Director of the Company on June 25, 2020.
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
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.

-6-

No.

2

Name
(Date of birth)

Brief career summary and important concurrent duties

Apr. 2005 Chief of Product Planning Office, Industrial Machinery
Engineering Division, NISSAN MOTOR CO., LTD.
Oct. 2010 General Manager of Product Development Division,
Nissan Forklift Co., Ltd.
Shinji Fujita
Apr. 2013 Vice President, General Manager of Research and(February 14, 1960)
Development Division, UniCarriers Corporation
Oct. 2013 Senior Vice President, UniCarriers Corporation[Reappointment]
Jun. 2014 Director, UniCarriers Corporation
Aug. 2014 General Manager of Purchasing Division, UniCarriers
Corporations
Oct. 2015 General Manager of Global R&D Center, Research andDevelopment Division, UniCarriers Corporation
General Manager of R&D Onomichi Center, Researchand Development Division, UniCarriers Corporation
Jun. 2017 Director, the Company (to present)
Oct. 2017 Senior Executive Officer, the Company (to present)
Head of Engineering Headquarters
Feb. 2019 Division Head, General Manager, Product Planning
Office, the Company
Apr. 2020 Division Head, General Manager, Quality Management
Office, the Company (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

3,100

None

16 out of 16 meetings (100%)[Reason for nomination as Director and summary of expected roles]
As Director, Mr. Shinji Fujita has fulfilled his accountability to the Board of Directors mainly from a technology andquality perspective, and conducted decision making on important matters and management supervision appropriately. Withhis proven track record and abundant business knowledge in the Company’s technology development, he has led technology
development and improvement of product quality of the Company from a global perspective as Senior Executive Officer.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him again as a candidate for Director.
(Notes)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 reappointment of the candidate is approved,
the Company will continue to include the candidate as an insured person under the insurance contract. The Company plans torenew the insurance contract with the above details the next time it comes up for renewal.

-7-

No.

3

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 & Administration 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.
Masayuki Suematsu Apr. 2011 Deputy General Manager of Planning & Administration(August 25, 1963)
Department, General Machinery & Special Vehicles
Business Headquarters, Mitsubishi Heavy Industries, Ltd.
[Reappointment]
Jan. 2012 Managing Director, Mitsubishi Agricultural MachineryCo., Ltd.
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)[Significant concurrent positions]
Senior Vice President, Mitsubishi Heavy Industries, Ltd.
Head of Business Strategy Office, Mitsubishi Heavy Industries, 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)Company0

See Note 1
below.

13 out of 16 meetings (81%)[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 of Mitsubishi Heavy Industries, Ltd., and possesses abundant experienceof business management and excellent insight. Based on his experience and insight, he has provided constructive opinions andsuggestions on general management and conducted management supervision appropriately.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him again as a candidate for Director.
(Notes)1.
Mr. Masayuki Suematsu is Senior Vice President and Head of Business Strategy Office of Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries, Ltd. owns 68,888,181 shares (or 64.64% 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 for finished 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.”
3.
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.
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-8-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.

Name
(Date of birth)
Ken Okochi(May 23, 1951)[Reappointment][External Director][Independent
Director]

Brief career summary and important concurrent duties
Apr. 1974 Joined Mitsubishi Corporation
Nov. 1984 Assistant to President, Machinery Distribution, Inc. (US)May 1994 Executive Vice President, in charge of Marketing,
Mitsubishi Caterpillar Forklift America Inc.
Apr. 2001 Manager of Rental & Construction Machinery Business
Unit, Mitsubishi Corporation
Oct. 2008 Assistant to Officer, Caterpillar Japan Ltd.
Apr. 2010 General Manager of Overseas Business Department,
AICHI CORPORATION
Jun. 2015 Director, the Company (to present)

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

3,000

None

4

• Years of service as Director: 6• Attendance at Board of Directors meetings in fiscal year under review:

16 out of 16 meetings (100%)[Reason for nomination as External Director and summary of expected roles]
Based on his abundant experience of business management and excellent insight in overseas business and logistic
equipment business, Mr. Ken Okochi has provided constructive opinions and suggestions on management strategies
particularly from a global perspective. In addition, as a member of the Nomination compensation advisory committee, he has
actively participated in deliberation and contributed to improvement of transparency and fairness with regard to nominationand compensation of officers.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him again as a candidate for External Director.
(Notes)1.
Mr. Ken Okochi is a candidate for External Director.
2.
The Company entered into an agreement with Mr. Ken Okochi 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 External Director on June 26, 2015, the Company registered Mr. Ken Okochi as an Independent Director
with the Tokyo Stock Exchange, Inc.

- 10 -

No.

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

5

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: 1• Attendance at Board of Directors meetings in fiscal year under review:

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

12 out of 12 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 improvement in the Company’s 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 figures for Mr. Osamu Ando’s attendance at meetings of the Board of Directors are stated for meetings held in the fiscal
year under review after his assumption of office as Director of the Company on June 25, 2020.
3.
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.
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 his election as Director on June 25, 2020, the Company registered Mr. Osamu Ando as an Independent Director with
Tokyo Stock Exchange, Inc.

- 11 -

No.

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

6

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)[Significant concurrent positions]
Partner, Irokawa Legal Professional Corporation, attorney
External Audit and Supervisory Board Member, KAWAKAMIPAINT MANUFACTURING CO., LTD.

• Years of service as Director: 1• Attendance at Board of Directors meetings in fiscal year under review:

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

12 out of 12 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 improvement in the Company’s 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. The figures for Ms. Kyoko Kobayashi’s attendance at meetings of the Board of Directors are stated for meetings held in
the fiscal year under review after her assumption of office as Director of the Company on June 25, 2020.
3. 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.
4. 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 amountstipulated by laws and regulations. If she is re-elected, the Company plans to renew the same agreement with her.
5. 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, thecontract includes certain exemption clauses, such as no compensation being given for liability attributable to acts inviolation of laws or regulations that were committed with full knowledge of their illegality. All insurance premiums areborne by the Company. If the reappointment of the candidate is approved, the Company will continue to include thecandidate as an insured person under the insurance contract. The Company plans to renew the insurance contract withthe above details the next time it comes up for renewal.
6. Upon her election as External Director on June 25, 2020, the Company registered Ms. Kyoko Kobayashi as Independent
Director with Tokyo Stock Exchange, Inc.

- 12 -

No.

Name(Date of birth)

Takashi Mikogami(March 19, 1956)[Newly appointed]

7

Brief career summary and important concurrent duties
Apr. 1981 Joined Mitsubishi Heavy Industries, Ltd., assigned at
Sagamihara Machinery Works
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[Significant concurrent positions]Executive Vice President, President and CEO, Logistics, Thermal &Drive Systems, Mitsubishi Heavy Industries, Ltd.

• Years of service as Director: 6• Attendance at Board of Directors meetings in fiscal year under review:

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

8,800

See Note 2
below.

4 out of 4 meetings (100%)[Reason for nomination as Director and summary of expected roles]
Mr. Takashi Mikogami contributed greatly to the development of the Company while serving as President and CEO from
October 2017 to June 2020. Currently, he supports the Company's business as Executive Vice President, President and CEO,
Logistics, Thermal & Drive Systems, Mitsubishi Heavy Industries, Ltd. In order for the Company to grow sustainably, it isimportant to strengthen the management structure and utilize the comprehensive strength of Mitsubishi Heavy Industries, Ltd.
The Company believes that he is the most suitable person to replace the current Chairman.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him 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 heldin the fiscal year under review before his resignation as Director of the Company on June 25, 2020.
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 64.64% 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 for- 13 -

3.

4.

finished products and other 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. Masayuki Suematsu holds currently andhas held in the past 10 years at Mitsubishi Heavy Industries, Ltd. are stated in the above “Brief career summary andimportant concurrent duties.”
The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as
the 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, thecontract includes certain exemption clauses, such as no compensation being given for liability attributable to acts inviolation of laws or regulations that were committed with full knowledge of their illegality. All insurance premiums areborne by the Company. The Company plans to renew the insurance contract with the above details the next time it comesup for renewal.

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No.

8

Name
(Date of birth)

Brief career summary and important concurrent duties

Mar. 1979 Joined the Company
Apr. 2003 President and CEO, Hokkaido Nichiyu, Co., Ltd.
Apr. 2009 President and CEO, Nichiyu MHI Tohoku Co., Ltd.
Hirokazu Watanabe Apr. 2013 Assistant to President, Nichiyu MHI Forklift Co., Ltd.
(February 16, 1957) Oct. 2013 Division Head, General Manager, Marketing and
Planning Division, Domestic Sales and Marketing
Headquarters, the Company[Newly appointed]
Jun. 2014 Executive Officer, Division Head, General Manager,
Marketing and Planning Division, Domestic Sales andMarketing Headquarters, the Company
Jun. 2015 Executive Officer, Deputy Head of Domestic Sales andMarketing Headquarters, and Division Head, General
Manager, Marketing and Planning Division, theCompany
Oct. 2017 Senior Executive Officer, Deputy Head of Domestic
Sales and Marketing Headquarters, the Company
Jun. 2018 Senior Executive Officer, Head of Domestic Sales andMarketing Headquarters, the Company
Jun. 2019 Senior Vice President, Head of Domestic Sales andMarketing Headquarters, the Company (to present)• Years of service as Director: ―• Attendance at Board of Directors meetings in fiscal year under review:

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

3,400

None

- out of - meetings (-%)

[Reason for nomination as Director and summary of expected roles]
Mr. Hirokazu Watanabe, who has a proven track record of business management in domestic business and abundantbusiness knowledge, serves as Senior Vice President and Head of Domestic Sales and Marketing Headquarters of theCompany. In particular, he demonstrated leadership in our process of integrating domestic sales companies in October 2020,
successfully led the launch of a new sales company as planned and a smooth start of its operation, which goes to show his
excellent leadership and execution capabilities.
Based on the above, he is expected to contribute to achieving sustainable improvement in the Company’s corporate value.
Therefore, we have nominated him as a candidate for Director.
(Notes)The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as the 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 theinsured persons. The contract covers potential damages and expense payments to be borne by the insured persons arising fromshareholder 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 werecommitted with full knowledge of their illegality. All insurance premiums are borne by the Company. The Company plans to renew
the insurance contract with the above details the next time it comes up for renewal.

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