The global economy is on a gradual recovery trend due to the lifting of lockdowns in Europe and the United States and deregulation in the Asian region, including China, which was among the first to return to normal economic activity.
However, the situation is expected to remain unpredictable because of the outbreak of new variants of COVID-19 and the implementation of temporary suspension and re-lockdown of economic recovery measures due to the re-spreading of the infection.
In the material handling equipment market, demand for forklift trucks showed a recovery trend from around September, mainly in Europe and the United States, and recovered to the level of the same period of the previous year in some regions and months. In Japan, demand for forklift trucks recovered to nearly the same level as the same period of the previous year in the fourth quarter, although there was a delay compared to Europe and the United States.
Summary of FY2020 Results
Net sales decreased 12.8% YoY. Although the order status of sales recovered from the improvement of the economic environment, it did not contribute to sales due to lead time.
Operating profit decreased 40.0% YoY (before amortization of goodwill, etc.). Despite continued efforts to reduce fixed costs, it was not enough to offset the decrease in gross profit due to the decline in sales.
Net Sale: Domestic sales and exports are on the road to recovery. Overseas sales declined despite a recovery trend.
Net Sales
Unit:
Domestic Business
Overseas Business
China
Hundred million JPY
5,000
4,489
& Asia
3,915
Europe
6%
4,000
17%
(7%)
3,000
2,699
(17%)
Japan
2,230
43%
2,000
(40%)
Americas
1,000
1,790
1,685
34%
(36%)
0
FY2019
FY2020
() = previous year
Operating profit (*) : Despite efforts to reduce fixed costs in all regions, this was not enough to offset the decline in gross profit due to lower sales.
Profit*
Unit:
Domestic Business
Overseas Business
Hundred million JPY
Operating
200.0
183.3
150.0
98.8
56.6
109.9
100.0
53.2
50.0
84.4
0.0
* Operating Profit before amortization of goodwill, etc. FY2019
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Mitsubishi Logisnext Co. Ltd. published this content on 08 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2021 08:51:02 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.