Nichiyu Mitsubishi Forklift

Mitsubishi Heavy Industries merged two of its forklift and logistics equipment subsidiaries, Nichiyu Mitsubishi Forklift and Unicarrier, to form a new company called Mitsubishi Logisnext on October 1, 2017. The new entity becomes the world's third-largest forklift manufacturer by market share.

Japan's Ministry of Economy, Trade and Industry approved a business restructuring plan from Nichiyu Mitsubishi Forklift to absorb Unicarrier's domestic sales business through a company split.

Nichiyu Mitsubishi Forklift announced it will merge with its consolidated subsidiary UniCarriers and change the company name to Mitsubishi Logisnext, effective October 1, 2017.

Nichiyu Mitsubishi Forklift and Unicarriers will merge their operations by October 2017, ahead of the original one-year plan, to create the world's third-largest forklift company by market share and sales.

Nichiyu Mitsubishi Forklift will acquire the remaining 65% of Unicarriers shares from Mitsubishi Heavy Industries Forklift & Engine Turbo Holdings, making Unicarriers a wholly owned subsidiary effective January 1, 2017.

Mitsubishi Heavy Industries acquired 65% of Unicarriers Holdings, with Nichiyu Mitsubishi Forklift acquiring 35%, for a total of approximately ¥110 billion. The acquisition was completed in March 2016 after a three-month delay.