Could be that or could be the altranator or bad electrical connection from battery to altranator harness hope these hints work for you
I'm not an expert on Mitsubishi forklifts but from my experience of 20 some years of operating, I can say that is most likely an electrical fault if the engine is not running properly then I would take it in and have it looked at. If it's operating fine with no obvious malfunctions that you can perceive then don't worry about it it's most likely nothing. Sometimes those lights just never go off. Hope my wisdom helps.
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