Tailift - Toyota's spearhead into Asia

Major Japanese forklift makers are developing operations in emerging economies, aiming to stay competitive by capitalising on these growing markets, according to the Nikkei news service.

The report notes that Japan's forklift manufacturers have a one-third marketshare globally.

It cites Toyota Industries, the world's largest producer of forklifts, and its Tailift subsidiary, which "makes competitively priced units that the parent aims to sell in India, Africa and South East Asia".

According to the report, Tailift aims to increase sales, which came in below 10,000 units in 2015, to between 20,000 and 30,000 by 2020.

Nikkei also reports that Mitsubishi Heavy Industries will "unify sales networks within Singapore, Malaysia and Australia. Along with expanding offerings, it will streamline to cut costs".

UniCarriers, acquired by Mitsubishi in the spring, will also realign by consolidating production, sales bases and supply chains. It aims to reach a 10% global marketshare, the report notes.