Restructure aims to improve business efficiency by accelerating post-merger integration.

Mitsubishi Heavy Industries Forklift, Engine & Turbocharger Holdings, Ltd. (M-FET) has raised its stake in Mitsubishi Nichiyu Forklift Co., Ltd. to 51%. At the same time, it has transferred its 65% stake in UniCarriers to Mitsubishi Nichiyu Forklift, making UniCarriers a wholly owned group company of Mitsubishi Nichiyu Forklift. The company says these moves are intended to further improve business efficiency by accelerating post-merger integration (PMI) in the logistics equipment business, with a focus on forklifts.

M-FET is wholly owned by Mitsubishi Heavy Industries, Ltd. (MHI).

The newly implemented measures will further strengthen M-FET's efforts to merge the operations of Mitsubishi Nichiyu Forklift and UniCarriers, creating synergies and reaping results at an early stage, according to a statement. "Going forward, M-FET seeks to fully merge the operations of the two companies by October 2017, with the goal of becoming the world's leading manufacturer of logistics equipment," it adds.

MHI established M-FET in March 2016 as an independently managed company. Its business areas include logistics systems, engines, power generators, co-generation systems, and turbochargers. Through integrated and flexible operations, M-FET is striving to create synergies, streamline its organisation, and break into new fields as a way to expand business scale and enhance earning capacity.

With the support of the wider MHI Group, M-FET will now pursue further PMI measures and will aim for greater competitiveness in the global market through the integration of logistics and energy system operations.

In July 2015, Mitsubishi revealed its plans to purchase rival UniCarriers, with
Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Nichiyu Forklift Co., Ltd. launching a preparatory committee to oversee the acquisition and integration.