The global economy was on a gradual recovery trend, with people, goods, and money finally starting to move, due to China's quick return to normal economic activity, the lifting of lockdowns in Europe and the United States, and deregulation in the Asian region.
However, the situation is expected to remain unpredictable in the future, as economic recovery measures have been suspended and re-locked down due to the outbreak and re-spreading of the new COVID-19 variants in various countries.
In the material handling equipment market, while there was a recovery trend in demand for forklift trucks from around September, mainly in Europe and the United States, a recovery trend in Japan was not so strong.
Summary of FY2020 3Q Results
Although orders received recovered due to the improvement in the economic environment, it didn't fully realize into sales, resulting in a △15.1% YoY decline in sales.
Operating profit decreased △45.3% YoY (before amortization of goodwill, etc.). Despite continued efforts to reduce labor costs and other fixed costs, it was not enough to offset the decrease in gross profit due to the decline in sales.
Net Sale: Although net sales declined, domestic sales are relatively constant, and overseas sales are on a recovery trend as the spread of COVID-19 infection calms down.
Net Sales
Unit:
Domestic Business
Overseas Business
Hundred million JPY
China
4,000
3,346
& Asia
2,843
Europe
5%
3,000
17%
(7%)
2,023
(17%)
Japan
2,000
1,611
43%
(40%)
1,000
1,3241,232
0
FY2019-3Q
FY2020-3Q
()=previous year
Operating profit
Unit:
Hundred million JPY
Profit*
150.0
Operating
100.0
50.0
0.0
: Despite efforts to reduce fixed costs in all regions, it was not enough to offset the decrease in gross profit due to the decline in sales.
Domestic Business
Overseas Business
FY2020 3Q Operating Profit by Segment
140.5
Domestic
89.6
76.9
Overseas
Business
Business
47.6%
(36.2%)
40.2
52.4%
(63.8%)
50.8
36.5
FY2019-3Q
FY2020-3Q
* Operating Profit before amortization of goodwill, etc.
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Mitsubishi Logisnext Co. Ltd. published this content on 28 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2021 05:32:10 UTC.
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.