April 11, 2019
To whom it may concern
Company Name: Mitsubishi Logisnext Co., Ltd.
Representative: President & CEO, Takashi Mikogami(Securities Code: 7105, TSE 1st Section)
Contact: Headquarter Administration Head, Yasuji Nakamura(TEL．075-956-8603)
Notice of Acquisition of U.S. Material Handling Equipment Dealer, Pon Material Handling NA, Inc.
Mitsubishi Logisnext Co., Ltd. (the “Company”) is pleased to announce that as a result of the Board of Directors meeting
held today on April 11, 2019, the Company’s consolidated subsidiary Mitsubishi Logisnext Americas Inc. (“MLNA”) will
acquire all of the outstanding equity interests of Pon Material Handling, NA, Inc. (“PMH”), a U.S. material handlingequipment dealer operating its business under the name of Equipment Depot.
1. Purpose of the Acquisition
The Company manufactures and sells forklift equipment in North, Central and South America through its two subsidiaries
under MLNA, including Mitsubishi Caterpillar Forklift America Inc. (“MCFA”) and UniCarriers Americas Corporation.
The North American market is the most important market for the Company, and as such, the Company is looking to takea step in expanding its operations in the U.S. and broadening its product and service solution offerings to its customers. Thisacquisition will help the Company achieve its current Mid-Term Business Plan and also deliver greater growth in the future
as well.
Serving local communities since 1951 with locations spanning 1,500 miles, PMH, operating as Equipment Depot, has been
one of the largest independent material handling and rental business in the U.S. Equipment Depot is also the largest dealer
for MCFA, with a stable and profitable client-base. Delivering on its mission to be the Best Service Organization in thematerial handling and contractor services industry, Equipment Depot offers a unique promise: Performance. Guaranteed.™
The organization's extensive footprint, local support, and service commitment help it stand apart from its competitors.
Overall, MLNA’s acquisition of Equipment Depot will strengthen its position in the industry by expanding its direct sales
channels, enhancing its service offerings and ensuring achievement of future growth goals. This acquisition will enable thecompany to meet the comprehensive needs of both existing and new customers in the material handling, parts, services andrental businesses.
2. Overview of Acquiring Entity
(1)

Name

Mitsubishi Logisnext Americas Inc.

(2)

Address2121 West Sam Houston Pkwy. N. Houston, TX 77043-2305 US

(3)
(4)
(5)
(6)
(7)

Name and Position ofRepresentative
Main Line of Business
Paid-inCapital(consolidated)
Date of Establishment
Main Shareholders andShareholding Ratio

Ken Barina
Regional headquarters of the Americas.
1,000 US dollars
April 2, 2018
Mitsubishi Logisnext Co., Ltd. – 100%

3. Overview of Pon Material Handling NA, Inc.
(1)

Name

Pon Material Handling NA, Inc.

(2)

Address

16630 Air Center Blvd. Houston, Texas, US
1

(3)
(4)
(5)
(6)
(7)

(8)

(9)

Name and Position ofRepresentative
Main Line of Business
Paid-in
Capital(consolidated)

David TurnerMaterial Handling Equipment Dealer$149 million US dollars

Date of Establishment

January 18, 2006

Main Shareholders andPon North America, Inc. – 81%

Shareholding Ratio

JET Holdings, LLC – 19%

Relationship between
the Company and PMH

Capital Relationship

There is no relationship to report.

Personnel Relationship

There is no relationship to report.
PMH is a US dealership that also sells the Company’sBusiness Relationshipproducts in the US

Consolidated Financial Data for the Most Recent 3 Years (in millions US dollars, except for share data)
Fiscal Year End

December 31, 2016

December 31, 2017

December 31, 2018

Net Assets

85.2

120.2

130.0

Gross Assets

275.6

245.1

228.6

Revenues

408.6

451.5

486.4

Operating Profit

12.2

11.5

17.1

Net Income

3.9

19.4

9.9

4. Overview of the Sellers① Overview of Pon North America, Inc.
(1)

NamePon North America, Inc.

(2)

Address

840 Gessner Road Suite 950 Houston, Texas, US(3)

Representative

Janus Smalbraak(4)Main Line of BusinessHolding Company(5)

CapitalNot disclosed at the request of the sellers.

(6)

Net Asset

Not disclosed at the request of the sellers.

(7)

Total Asset

Not disclosed at the request of the sellers.

(8)

Date EstablishedNot disclosed at the request of the sellers.

(9)

(10)

Partners and Ownership
Ratio

Not disclosed at the request of the sellers.
Capital Relationship

There is no relationship to report.

Relationship between thePersonnel Relationship

There is no relationship to report.

Company and Seller

Business Relationship

There is no relationship to report.

Related Party Relationship

There is no relationship to report.

② Overview of JET Holdings, LLC
(1)

Name

JET Holdings, LLC(2)

Address

840 Gessner Road Suite 950 Houston, Texas, US(3)

Representative

Janus Smalbraak(4)Main Line of BusinessHolding Company(5)

CapitalNot disclosed at the request of the sellers.

(6)

Net Asset

Not disclosed at the request of the sellers.

(7)

Total Asset

Not disclosed at the request of the sellers.

(8)

Date EstablishedNot disclosed at the request of the sellers.
2(9)

(10)

Partners and Ownership
Ratio

Not disclosed at the request of the sellers.
Capital Relationship

There is no relationship to report.

Relationship between thePersonnel Relationship

There is no relationship to report.

Company and Seller

Business Relationship

There is no relationship to report.

Related Party Relationship

There is no relationship to report.

5. Acquisition Price and Ownership Percentage before and after the Transaction(1)

Ownership Pre-Transaction

0.0 %The acquisition price was determined based on sufficient due diligence carried(2)

Acquisition Priceout by third parties and negotiation with the seller. Due to the confidentiality
obligation of the transfer agreement, the acquisition price etc. will not bedisclosed.

(4)

Ownership PostTransaction

100.0 %

6. Timeline(1)

Resolution by the Board of Directors

April 11, 2019(2)

Execution of the Agreement

April 11, 2019(3)

Date of Share Transfer

Currently anticipated to be at the end of July 1, 2019※(1)※(1)The schedule of the transaction is tentative as of April 11, 2019 and may differ from the above depending on the approval
status from relevant authorities with regards to the US antitrust law and fulfillment of other closing conditions.
7. Future Outlook
With regard to the impact of this event on the Company’s consolidated financial results for fiscal year ending in March
2020, the Company is currently examining such and will issue an announcement promptly after completing their review.

END3