Headquarters of Mitsubishi Heavy Industries in Shinagawa, Tokyo
|Mitsubishi Jūkōgyō Kabushiki-kaisha|
|Traded as||TYO: 7011|
|Hideaki Omiya (Chairman)|
Shunichi Miyanaga (CEO and President)
|Revenue||¥4110.8 billion (2017)|
|¥150.5 billion (2016)|
|¥87.7 billion (2016)|
|Total assets||¥5500.71 billion (2016)|
|Total equity||¥1637.84 billion (2016)|
Number of employees
|Divisions||Marine Vessel and Ocean|
Machinery and Iron Structure
Aviation and Space
Mitsubishi Heavy Industries, Ltd. (三菱重工業株式会社 Mitsubishi Jūkōgyō Kabushiki-kaisha, informally MHI) is a Japanese multinational engineering, electrical equipment and electronics company headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group.
MHI's products include aerospace components, air conditioners, aircraft, automotive components, forklift trucks, hydraulic equipment, machine tools, missiles, power generation equipment, printing machines, ships and space launch vehicles. Through its defense-related activities it is the world's 23rd-largest defense contractor measured by 2011 defense revenues and the largest based in Japan.
In 1857, at the request of the Tokugawa Shogunate, a group of Dutch engineers began work on the Nagasaki Yotetsusho, a modern, Western-style foundry and shipyard near the Dutch settlement of Dejima, at Nagasaki. This was renamed Nagasaki Seitetsusho in 1860, and construction was completed in 1861. Following the Meiji Restoration of 1868, the shipyard was placed under control of the new Government of Meiji Japan. The first dry dock was completed in 1879.
In 1884, Yataro Iwasaki, the founder of Mitsubishi, leased the Nagasaki Seitetsusho from the Japanese government, renamed it the Nagasaki Shipyard & Machinery Works and entered the shipbuilding business on a large scale. Iwasaki purchased the shipyards outright in 1887. In 1891, Mitsubishi Heavy Industries - Yokohama Machinery Works was started as Yokohama Dock Company, Ltd. Its main business was ship repairs, to which it added ship servicing by 1897. The works was renamed Mitsubishi Shipyard of Mitsubishi Goshi Kaisha in 1893 and additional dry docks were completed in 1896 and 1905.
The Mitsubishi Heavy Industries - Shimonoseki Shipyard & Machinery Works was established in 1914. It produced industrial machinery and merchant ships.
The Nagasaki company was renamed Mitsubishi Shipbuilding & Engineering Company, Ltd. in 1917 and again renamed as Mitsubishi Heavy Industries in 1934. It became the largest private firm in Japan, active in the manufacture of ships, heavy machinery, airplanes and railway cars. Mitsubishi Heavy Industries merged with the Yokohama Dock Company in 1935. From its inception, the Mitsubishi Nagasaki shipyards were heavily involved in contracts for the Imperial Japanese Navy. The largest battleship Musashi was completed at Nagasaki in 1942.
The Kobe Shipyard of Mitsubishi Goshi Kaisha was established in 1905. The Kobe Shipyard merged with Mitsubishi Heavy Industries in 1934. The Kobe Shipyard constructed the ocean liner Argentina Maru (later repurposed as the aircraft carrier Kaiyo), and the submarines the I-19 and I-25.
Following the dissolution of the zaibatsu after the surrender of Japan at the end of World War II, Mitsubishi divided into three companies. Mitsubishi Nagasaki became West Japan Heavy Industries, Ltd. The Nagasaki Shipyard was renamed Mitsubishi Shipbuilding & Engineering Co., Ltd. in 1952. The Mitsubishi Kobe Shipyard became Central Japan Heavy Industries, Ltd. in 1950.
In 1964, the three independent companies from the 1950 break-up were merged again into one company under the name of Mitsubishi Heavy Industries, Ltd. The Nagasaki works was renamed the Nagasaki Shipyard & Engine Works. The Kobe works was renamed the Mitsubishi Heavy Industries - Kobe Shipyard & Machinery Works.
In 1970, MHI's automobile parts department became an independent company as Mitsubishi Motors.
In 1974, its Tokyo headquarters was targeted in a bombing that killed eight people.
MHI participated in a ¥540 billion emergency rescue of Mitsubishi Motors in January 2005, in partnership with Mitsubishi Corporation and Mitsubishi Tokyo Financial Group. As part of the rescue, MHI acquired ¥50 billion of Mitsubishi Motors stock, increasing its ownership stake to 15 percent and making the automaker an affiliate again.
MHI entered talks with Hitachi in August 2011 about a potential merger of the two companies, in what would have been the largest merger between two Japanese companies in history. The talks subsequently broke down and were suspended.
In November 2012, Mitsubishi Heavy Industries and Hitachi agreed to merge their thermal power generation businesses into a joint venture to be owned 65% by Mitsubishi Heavy Industries and 35% by Hitachi. The joint venture began operations in February 2014.
In June 2014 Siemens and Mitsubishi Heavy Industries announced their formation of joint ventures to bid for Alstom's troubled energy and transportation businesses (in locomotives, steam turbines, and aircraft engines). A rival bid by General Electric (GE) has been criticized by French government sources, who consider Alstom's operations as a "vital national interest" at a moment when the French unemployment level stands above 10% and some voters are turning towards the far-right.
In the 1950s the company began to re-enter the aerospace industry in earnest. Along with other major Japanese companies it was involved in design and production of the NAMC YS-11, the first Japanese airliner to enter production after World War II. In 1956 work started on the design of the Mitsubishi MU-2, which became the company's first postwar aircraft design.
In the defense sector, MHI has produced jet fighters for the Japan Air Self-Defense Force and anti-submarine helicopters for the Japan Maritime Self-Defense Force, as well as aero-engines, missiles and torpedoes. It produced North American F-86 Sabre, Lockheed F-104 Starfighter and McDonnell Douglas F-4 Phantom II fighters. It manufactured 139 Mitsubishi F-15J fighter aircraft from 1981 and produced 200 Sikorsky S-70 family Mitsubishi H-60 helicopters from 1989, in both cases under license production. The company also plays an important role in the Japanese Ballistic Missile Defense System program.
In the space systems sector, MHI is the producer of the H-IIA and H-IIB launch vehicles, Japan's main rockets, and provides launch services to JAXA related to the launch vehicles. The company is also involved in the International Space Station program.
On 1 April 2008, MHI established Mitsubishi Aircraft Corporation as a subsidiary to develop and produce the MRJ or Mitsubishi Regional Jet, a 70 to 90 passenger regional airliner. MHI is the majority shareholder of the new company, with Toyota Motor Corporation owning 10%.
In the civil aircraft sector, MHI develops and manufactures major airframe components, including fuselage panels for the Boeing 777 and composite-material wing boxes for the 787. In June 2014, the company joined four other major Japanese companies in signing an agreement to build parts for Boeing's 777X aircraft.[needs update]
The nuclear business of MHI operates facilities in the cities of Kobe and Takasago in Hyogo Prefecture and in Yokohama, Kanagawa Prefecture. It also operates a nuclear fuel manufacturing plant in Tōkai, Ibaraki which processes 440 Metric tons of Uranium per year.
MHI has also developed the Mitsubishi APWR design. MHI has also signed a memorandum of understanding with Areva for the establishment of a joint venture, Atmea, for their next reactor design ATMEA1.
MHI has also been selected as the core company to develop a new generation of Fast Breeder Reactors (FBR) by the Japanese government. After that announcement was made, MHI established a new company, Mitsubishi FBR Systems, Inc. (MFBR) specifically for the development and realization of FBR technology, starting what is likely to be the most aggressive corporate venture into FBR and Generation IV reactor technology.
MHI attempted to acquire the energy business of Alstom in 2014 in order to develop its service network in Southeast Asia. MHI remains interested in acquisitions in the crude oil and gas sectors as of 2015. Following financial difficulties at Areva, MHI announced in 2015 it will make a proposal to take a minority ownership stake in Areva.
Shipbuilding has been a core and historical founding activity for Mitsubishi Heavy Industries. It was formally started in 1884 when Mitsubishi leased and then acquired the 'Nagasaki Shipyard & Machinery Works' company (founded in 1857 as 'Nagasaki Yotetsusho Foundry'  ). Subsequently, Mitsubishi progressively became one of the major Japanese shipbuilding companies, building both commercial as well as military ships, including the Yamato-class battleship, Musashi and Yamato, of the Imperial Japanese Navy during World War II.
MHI has shipbuilding facilities in Nagasaki, Kobe and Shimonoseki, Japan. Nagasaki Shipyard & Machinery Works (三菱重工長崎造船所 Mitsubishi Juko Nagasaki Zosenjo) is the primary shipbuilding division of MHI. It primarily produces specialized commercial vessels, including LNG carriers, and passenger cruise ships.
On 1 December, 2017, Mitsubishi Heavy Industries, Ltd. (MHI) announced that it will launch two new wholly owned companies on 1 January, 2018 in conjunction with reorganization of its shipbuilding business:
- A new subsidiary, Mitsubishi Shipbuilding Co., Ltd., was created to primarily undertake construction of ships that require intensive outfitting and advanced technologies, mainly based on the Yokohama, Shimonoseki and Nagasaki shipyards.
- Separately, Mitsubishi Heavy Industries Marine Structure Co., Ltd. will mainly engage in the manufacture of large ships and marine structures.
MHI has installed more 3,282 MW worldwide until December 2009, mainly turbines with 1 and 2.4 MW. The company is developing 7-MW-turbines for offshore wind power. Tests are planned for 2013 in Europe.
MHI's products include:
On November 28, 2018, Mitsubishi Heavy Industries was ordered by the South Korea Supreme Court to pay 150m won ($133,000; £104,000) in compensation to 10 surviving Koreans who were victims of forced labor which the company oversaw during the Japanese occupation of Korea. Eighteen family members of other victims of the forced labour overseen by Mitsubishi Heavy Industries, who had previously sued sometime before 2008, will also be awarded compensation as well. All twenty-eight plaintiffs had previously filed a lawsuit in Japan, but had their lawsuit dismissed the Supreme Court of Japan in 2008.
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