Tokyo, November 29, 2012 – Mitsubishi Heavy Industries, Ltd. (MHI) and Nippon Yusoki Co., Ltd. (NICHIYU) have signed a basic agreement under which the two companies will integrate their respective businesses in forklift trucks. MHI boasts strength in engine-powered forklifts and has a global scope of operations, while NICHIYU excels in battery-powered forklifts and operates primarily in the domestic and Asian markets. Through their integration initiative, the two companies aim to pool their global management resources to optimum advantage, enabling the new integrated entity to successfully perform as a top-tier manufacturer in the rapidly changing global forklift truck market.

The integration of MHI and NICHIYU’s forklift truck businesses is expected to result in a　significantly enhanced product lineup, the sharing and optimization of distribution channels,efficient development of products matching market needs, and effective utilization of human　resources and capital investment.

After signing the basic agreement, MHI and NICHIYU will begin discussions of details,targeting signing of a definitive agreement in February 2013 with the contemplated integration effective as of April 01, 2013.

With this strengthening of their ongoing collaboration in forklift truck operations, MHI and Nichiyu look to further improve and strengthen their product offering and their ability to respond swiftly to the needs of global users.