Mitsubishi Logisnext : ”Financial Results for FY2022" has been posted.

Financial Results for FY2022

(FY2022: From April 1, 2022 to March 31, 2023)

Logisnext Solutions

Comprehensive Manufacturer of Logistical Equipment,

Headquartered in Nagaokakyo, Kyoto.

J u n e 1 , 2 0 2 3

MITSUBISHI LOGISNEXT

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

Summary of Financial Results for FY2022

(FY2022: From April 1, 2022 to March 31, 2023)

Takatoshi Uno

Director, Executive Officer

CFO

© MITSUBISHI LOGISNEXT CO., LTD. All rights reserved.

1. FY2022 Summary

Economic Market Trends

• The global economy remains stagnant or continues to slow down due to policies of increasing interest rates by central banks in various countries in order to control inflation and the impact of Russian aggression in Ukraine since February last year. In addition, increasing material and transport costs and supply chain disruptions have shown signs of improvement overall but remain significant in some areas.
• In the material handling equipment market, demand in Japan remains at pre-COVID-19 levels. Overseas demand in the Americas, has continued to exceed pre-COVID-19 levels because logistics needs remain strong despite economic slowdowns. Demand in Asia remains at the same high levels as the previous year, but is declining in Europe although maintaining pre-COVID-19 levels. China has shown signs of modest recovery due to the lifting of the zero-COVID policy, but has yet to recover from the decline in the first half of FY2022.
• Mitsubishi Logisnext has been affected by longer lead times due to delays in the supply of components, by higher material and transportation costs and other factors, but orders are generally steady, though there are regional differences. Production and shipments are being promoted in Japan and overseas, and the effects of price optimization have begun to show.

Summary of FY2022 Results

• Net sales increased by 32.2% YoY due to an increase in units sold mainly in the Americas and Europe, as well as the impact of the weak JPY.
• Operating profit (before amortization of goodwill, etc.) increased 92.1% YoY due to a significant increase in sales against the background of strong orders in the Americas and strong performance in the rental business, as well as the impact of the weak JPY and price optimization.

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2. Financial Highlights

						Unit: Hundred million JPY
Profit and Loss
FY2021	FY2022		YoY Change
Statement
Net Sales	4,654.0	6,154.2	+1,500.1			+32.2％
Operating Profit	130.1	249.9		+119.8			+92.1％
(Before amortization of goodwill, etc.)	(2.8％)	(4.1％)
(Operating profit margin)
Amortization of	94.2	102.8	―			―
Goodwill
Operating Profit	35.9	147.0		+111.1			+309.4%
(Operating profit margin)	(0.8％)	(2.4％)
Ordinary Profit	32.4	116.4		+84.0			+259.4%
(Ordinary profit margin)	(0.7％)	(1.9％)
Profit Attributable to	7.1	69.1		+61.9			+864.0%
Owners of Parent
(0.2％)	(1.1％)
(Net income margin)
		FY2021 actual FX rates: USD=JPY112.38	EUR=JPY130.56	CNY=JPY17.51
		FY2022 actual FX rates: USD=JPY135.47	EUR=JPY140.97	CNY=JPY19.75
Balance Sheet	FY2021	FY2022		YoY Change
Total Assets	4,056.0	4,754.3	+698.3			+17.2％
Total Liabilities	3,418.6	3,994.0	+575.4			+16.8％
Net Assets	637.3	760.2	+122.9			+19.3％

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3. Business Results by Segment

Net Sales

• Net sales increased by 32.2% YoY, due to a slight increase in Japan and an increase in units sold overseas, mainly in the Americas and Europe, and the impact of the weak JPY

Unit:	Japan Overseas		FY2022 Sales by Region
Hundred million JPY		China&
8,000			Increased	6,154.2
		Europe	Asia
			+1,500.1		6.4％	Japan
		4,654.0		16.8％
6,000		(+32.2％)		(6.7％)	28.7％
					(17.3％)
4,000				4,390.9			(37.4％)
	2,914.5		Americas
2,000
	1,739.5		1,763.2		48.1％
0				(38.6％)
	FY2021		FY2022			() = previous year

Operating Profit*

• Operating profit increased by 92.1% YoY partly due to FX impacts. Profit in Japan decreased due to the limited effects of price optimization compared to higher costs, whereas overseas profit benefited from higher sales and price optimization effects

Unit:	Japan Overseas		FY2022 Operating Profit by Segment
Hundred million JPY
300.0			Increased	249.9	Japan
			+119.8
200.0			(+92.1％)		21.4％
		130.1	196.5	(48.9％)
100.0			66.5		Overseas
			78.6%
			63.5	53.4	(51.1％)
0.0

* Operating Profit before amortization of goodwill, etc. FY2021	FY2022	() = previous year
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