Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd.
Mitsubishi Jūkōgyō Kabushiki-kaisha
Public K.K.
Traded as TYO: 7011
Industry Engineering
Electrical equipment
Electronics
Defense
Founded 1934 (1934)
Headquarters Minato, Tokyo, Japan
Area served
 Global
Key people
 Hideaki Omiya (Chairman)
Shunichi Miyanaga (CEO and President)
Revenue Increase US$39.1 billion (2015)[1]
Increase US$2.92 billion (2015)[1]
Decrease US$0.60 billion (2015)[1]
Number of employees
 81,845
Divisions Marine Vessel and Ocean
Power Engine
Machinery and Iron Structure
Aviation and Space
Medium-size Product
Subsidiaries
Website www.mhi-global.com

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's products include aerospace components, air conditioners, aircraft, automotive components, forklift trucks, hydraulic equipment, machine tools, missiles, power generation equipment, ships, and space launch vehicles.[2] 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.[3]

MHI is one of the core companies of the Mitsubishi Group.

History

The Big Cranes at The Mitsubishi Dockyard Nagasaki, Meiji Period

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.[4] 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, renaming it the Nagasaki Shipyard & Machinery Works and entering 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.[5] The works was renamed Mitsubishi Shipyard of Mitsubishi Goshi Kaisha in 1893 and additional dry docks were completed in 1896 and 1905.[4]

The Mitsubishi Heavy Industries - Shimonoseki Shipyard & Machinery Works was established in 1914. It produced industrial machinery and merchant ships.[6]

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 railroad cars. Mitsubishi Heavy Industries merged with the Yokohama Dock Company in 1935.[5] 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.[7]

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.[4] The Mitsubishi Kobe Shipyard became Central Japan Heavy Industries, Ltd. in 1950.[7]

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.[8]

In 1970, MHI's automobile parts department became an independent company as Mitsubishi Motors.

MHI participated in a ¥540 billion emergency rescue of Mitsubishi Motors in January 2005, in partnership with Mitsubishi Corporation and Mitsubishi Tokyo Financial Group.[9][10] 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.[9]

In October 2009, MHI announced an order for up to 100 regional jets from the United States-based airline Trans States Holdings.[11][12]

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.[13][14] The talks subsequently broke down and were suspended.[15]

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.[16][17] The joint venture is planned to begin operations in 2014.[16][17]

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.[18]

Operations

The current headquarters of Mitsubishi Heavy Industries in Shinagawa, Tokyo

Aerospace

MHI has aerospace facilities in Nagoya, Aichi, Komaki, Aichi and Mississauga, Ontario, Canada.

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.[19] In 1956 work started on the design of the Mitsubishi MU-2, which became the company's first postwar aircraft design.[20]

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 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 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%.[21]

On December 12, 2012, Mitsubishi Heavy Industries has bought Goodrich turbine business,[22] previously owned by United Technologies.

In June 2014, the company joined four other major Japanese companies in signing an agreement to build parts for Boeing's 777X aircraft.[23]

Defense

In 2010 MHI commenced production of the Type 10 advanced main battle tank, at a cost of $11.3 million Dollars per unit, to replace the Type 90 tank.

Missiles

Energy

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.[24]

MHI has also been selected as the core company to develop a new generation of Fast Breeder Reactors (FBR) by the Japanese government.[25] 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.[26]

MHI is currently developing a $15.8 billion nuclear power plant in Sinop, Turkey in partnership with Itochu and Engie, which would be its first overseas nuclear project.[27]

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.[28] Following financial difficulties at Areva, MHI announced in 2015 it will make a proposal to take a minority ownership stake in Areva.[29]

Shipbuilding

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.[30]

Wind power

MHI has installed more 3,282 MW worldwide until December 2009, mainly turbines with 1 and 2.4 MW.[31] The company is developing 7-MW-turbines for offshore wind power. Tests are planned for 2013 in Europe.[32]

On September 27, 2013, MHI and Vestas Wind Systems announced a joint-venture to develop offshore wind energy based on Vestas' V164 8.0MW turbine.[33]

Products

Liftoff of the second flight of the H-IIB expendable launch system
The Crystal Mover, an automated people mover manufactured by MHI for airport and light rail applications
Diamond Princess docked in Hobart, Australia

MHI's products include:

Notes

  1. 1 2 3 "Financial Statements For Mitsubishi Heavy Industries (7011)". businessweek.com. Retrieved 2011-05-03.
  2. ↑ "Products". Mitsubishi Heavy Industries, Ltd. Retrieved 27 December 2011.
  3. ↑ "Defense News Top 100 for 2011". Defense News. Archived from the original on 5 August 2012. Retrieved 19 July 2012.
  4. 1 2 3 Nagasaki Shipyard & Machinery Works. "History". Retrieved 2011-02-28.
  5. 1 2 Yokohama Machinery Works. "Outline". Retrieved 2011-02-28.
  6. ↑ Shimonoseki Shipyard & Machinery Works. "Outline". Retrieved 2011-02-28.
  7. 1 2 Kobe Shipyard & Machinery Works. "Brief History". Retrieved 2011-03-02.
  8. ↑ Kobe Shipyard & Machinery Works. "Outline". Retrieved 2011-02-28.
  9. 1 2 "Mitsubishi's rocky road". The New York Times. 29 January 2005. Retrieved 17 July 2012.
  10. ↑ "Mitsubishi seeks $5.2bn bail out". BBC News. 28 January 2005. Retrieved 17 July 2012.
  11. ↑ "Mitsubishi announces order for 100 regional jets". The Sydney Morning Herald. 2 October 2009. Retrieved 17 July 2012.
  12. ↑ "Japan jet business gets boost with big US order". Reuters. 2 October 2009. Retrieved 17 July 2012.
  13. ↑ "Hitachi, Mitsubishi edge towards groundbreaking merger". Reuters. 4 August 2011. Retrieved 17 July 2012.
  14. ↑ "Shares of Hitachi and Mitsubishi Heavy get merger boost". BBC News. 4 August 2011. Retrieved 17 July 2012.
  15. ↑ "Mitsubishi Heavy, Hitachi shares tumble as merger talks stall". Reuters. 4 August 2011. Retrieved 17 July 2012.
  16. 1 2 "Hitachi and Mitsubishi Heavy shares rise after merger". BBC News. 30 November 2012. Retrieved 11 December 2012.
  17. 1 2 "MHI, Hitachi plan to merge thermal power units to boost overseas sales". The Japan Times. 30 November 2012. Retrieved 11 December 2012.
  18. ↑ Jens Hack and Natalie Huet, "Siemens and Mitsubishi challenge GE with Alstom offer", Reuters (June 16 2014).
  19. ↑ NAMC YS-11 airliners.net Retrieved December 7, 2016
  20. ↑ Mitsubishi MU-2 airliners.net Retrieved December 7, 2016
  21. ↑ "Toyota to sink $67.2 mln in Mitsubishi passenger jet _World Biz--China Economic Net". Retrieved 7 February 2017.
  22. ↑ United Tech Sells 3 Businesses For $3.5B. Manufacturing.net (2012-12-13). Retrieved on 2013-08-16.
  23. ↑ "Boeing enters pact with Japanese consortium for supply of 777X plane parts". Chicago Chronicle. Retrieved 12 June 2014.
  24. ↑ "JCN Newswire - Asia Press Release Distribution". Retrieved 7 February 2017.
  25. ↑ "Nuclear power in Japan". Retrieved 7 February 2017.
  26. ↑ "JCN Newswire - Asia Press Release Distribution". Retrieved 7 February 2017.
  27. ↑ "2 Japanese companies aim to fund 30% of Turkish nuclear project". Nikkei Asian Review. Nikkei. 8 June 2015. Retrieved 9 June 2015.
  28. ↑ Sekiguchi, Keita (6 June 2015). "Mitsubishi Heavy opening up coffers for regional jet, acquisitions". Nikkei Asian Review. Retrieved 8 June 2015.
  29. ↑ "MHI prepares bid for stake in Areva's reactor business". World Nuclear News. 6 November 2015. Retrieved 12 November 2015.
  30. 1 2 Wright, Robert (2016-06-21). "Mitsubishi Heavy Industries reviews its future in cruise ships". Financial Times. ISSN 0307-1766. Retrieved 2016-07-24.
  31. ↑ Track Record | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp (2010-05-27). Retrieved on 2013-08-16.
  32. ↑ Review of Operations | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
  33. ↑ "Vestas Gains on Mitsubishi Heavy Deal for Offshore Wind". 27 September 2013. Retrieved 7 February 2017 – via www.bloomberg.com.
  34. ↑ GTCC (Gas Turbine Combined Cycle power plant) | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
  35. ↑ Gas Turbines | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
  36. ↑ Steam Turbines | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
  37. ↑ Wind Turbine Generators | Mitsubishi Heavy Industries, Ltd
  38. ↑ "Mitsubishi Heavy to make lithium ion car batteries", Reuters, 23 January 2007, as found at Yahoo! Singapore Finance website

References

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