Mitsubishi Nichiyu Forklift Co.,Ltd. entered into an agreement to acquire remaining 65% stake in UniCarriers Corporation from Mitsubishi Heavy Industries Forklift & Engine Turbocharger Holdings for ¥76.8 billion.
September 29, 2016
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Mitsubishi Nichiyu Forklift Co.,Ltd. (TSE:7105) entered into an agreement to acquire remaining 65% stake in UniCarriers Corporation from Mitsubishi Heavy Industries Forklift & Engine Turbocharger Holdings for ¥76.8 billion on September 29, 2016. Under the terms of transaction, Mitsubishi Nichiyu Forklift Co.,Ltd. shall purchase 0.25 million shares of UniCarriers Corporation. The purchase price shall be funded by borrowings from Mitsubishi Heavy Industries. For the year ended March 31, 2016, UniCarriers Corporation reported revenue of ¥196.2 billion, operating income of ¥5.75 billion and net income of ¥227 million. As of March 31, 2016, UniCarriers Corporation reported net assets of ¥54.9 billion and total assets of ¥160.5 billion.
The deal is subject to the clearance of all procedures related to the anti-trust laws. Board of Mitsubishi Nichiyu Forklift Co.,Ltd. has passed a resolution on the transaction. The transaction is expected to close on January 1, 2017. Mori Hamada & Matsumoto LPC acted as legal advisor for Mitsubishi Nichiyu Forklift Co.,Ltd. Mitsubishi UFJ Morgan Stanley Securities acted as financial advisor to itself.
Mitsubishi Logisnext Co., Ltd. is a Japan-based company mainly engaged in the manufacture, sale and maintenance services of forklift trucks and other logistics equipment and maintenance parts. The Company primarily operates through two business segments. The Domestic segment is engaged in the domestically manufacture and sale of logistics equipment and maintenance parts, mainly forklift trucks, as well as the sale of related products and maintenance parts. The Overseas segment is mainly operated in the Americas, Europe, China and Asia. The Company is mainly engaged in the development, design, manufacture and sale of logistics system products such as battery forklifts, engine forklifts, container carriers, transfer cranes, transport robots, automated warehouses, and warehouse management systems (WMS). The Company is also engaged in the business of non-life insurance agency.
Mitsubishi Nichiyu Forklift Co.,Ltd. entered into an agreement to acquire remaining 65% stake in UniCarriers Corporation from Mitsubishi Heavy Industries Forklift & Engine Turbocharger Holdings for ¥76.8 billion.
MITSUBISHI LOGISNEXT CO., LTD. 