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News Releases / 2010

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[Translation]
March 22, 2010
Organization Announcement
Establishment of New Material Handling Company in North America
Toyota Industries Corporation (TICO) hereby announces the establishment of a new controlling company for its North American material handling business has been approved at its Board of Directors meeting on March 22nd 2010.
  1. Purpose of establishment
    Toyota Industries Corporation's carries out the development, manufacture and sale of forklifts through its material handling business unit the Toyota Material Handling Group (TMHG). TMHG is organized geographically by major region, and offers the TOYOTA and RAYMOND brands in the North American market.

    The TOYOTA brand offers a broad range of electric and internal-combustion lift trucks. The RAYMOND brand is positioned to focus more on electric lift trucks for warehousing and distribution applications. Combined, TOYOTA and RAYMOND have the largest market presence in North America.

    Previously, both TOYOTA and RAYMOND closely collaborated to improve business efficiencies in the areas of manufacturing, quality and procurement. For the purpose of further strengthening regional coordination and improving performance, Toyota Material Handling North America, Inc. (TMHNA, Inc), is formally established to integrate management and operational activities in North America.

    TMHNA, Inc will continue to offer forklifts and related service solutions through its two existing market brands and distribution channels.

  2. Company Profile
    1) Company name: Toyota Material Handling North America, Inc. (TMHNA, Inc)
    2) Description of Business: Controlling company for material handling businesses in North America
    3) Location of Incorporation: Columbus, Indiana
    4) Shareholder: Toyota Industries North America, Inc. (TINA)
    (100% owned subsidiary of TICO, holding company in North America)
    5) Capital: 100,000USD (TINA 100% owned)
    6) Date of establishment: April 1st, 2010
    7) Board members:
    (1) Executives Kazue Sasaki - Chairman
    (Senior Managing Officer of TICO, President of TIEM*1)

    James Malvaso - President and CEO
    (President and CEO, The Raymond Corporation*2)
    (2) Non-executive Tatsuo Matsuura
    (Executive Vice President of TICO)

    Kimpei Mitsuya
    (Senior Managing Director of TICO)

    Shinya Furukawa
    (Senior Managing Officer of TICO)
    *1 Toyota Industrial Equipment Manufacturing, Inc. (100% TICO indirectly owned subsidiary, Forklift manufacturing company in North America)

    *2 The Raymond Corporation (100% TICO indirectly owned subsidiary, Forklift manufacturing and sales company in North America)
    3.

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