Mitsubishi Heavy Industries
|Traded as||TYO: 7011|
|Headquarters||Minato, Tokyo, Japan|
|Key people||Hideaki Ohmiya (Chairman)
Shunichi Miyanaga (President)
|Revenue||US$ 35.1 billion (2011)|
|Operating income||US$ 1.39 billion (2011)|
|Net income||US$ 0.30 billion (2011)|
|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'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. 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.
MHI is one of the core companies of the Mitsubishi Group.
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 Meiji government. 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. 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 railroad 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 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), the submarine I-19 and the 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.
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 is planned to begin operations in 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 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 139 Mitsubishi F-15 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%.
- Mitsubishi ATD-X
- Mitsubishi F-1
- Mitsubishi F-2
- Mitsubishi F-15J
- Mitsubishi H-60
- Mitsubishi MH2000
- Mitsubishi MU-2
- Mitsubishi MU-300 Diamond
- Mitsubishi RP-1
- Mitsubishi T-2
- Mitsubishi Regional Jet
- AAM-1 (Japanese missile)
- AAM-4 (Japanese missile)
- AAM-5 (Japanese missile)
- Nike J
- Type 80 Air-to-Ship Missile
- Type 88 Surface-to-Ship Missile
- Type 90 Ship-to-Ship Missile
- Type 91 Air-to-Ship Missile
- Type 93 Air-to-Ship Missile
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, which as of July 2007[update], has been selected for use in two sites in Japan and the United States. MHI has also signed a memorandum of understanding with Areva for the establishment of a joint venture for their next reactor design.
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 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, oil tankers and passenger cruise ships.
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:
- Aerospace systems**Rockets and spacecraft
- Air conditioning and refrigeration systems
- Armoured fighting vehicles
- Desalination equipment
- Diesel engines
- Electric buses
- Energy equipment
- Industrial machinery
- Light rail vehicles
- Ships and marine structures
- Cruise ships
- LPG carriers
- Oil tankers
- Deep-submergence vehicles
- Chikyū (Ocean-going Drilling Vessel)
- "Financial Statements For Mitsubishi Heavy Industries (7011)". businessweek.com. Retrieved 2011-05-03.
- "Products". Mitsubishi Heavy Industries, Ltd. Retrieved 27 December 2011.
- "Defense News Top 100 for 2011". Defense News. Retrieved 19 July 2012.
- Nagasaki Shipyard & Machinery Works. "History". Retrieved 2011-02-28.
- Yokohama Machinery Works. "Outline". Retrieved 2011-02-28.
- Shimonoseki Shipyard & Machinery Works. "Outline". Retrieved 2011-02-28.
- Kobe Shipyard & Machinery Works. "Brief History". Retrieved 2011-03-02.
- Kobe Shipyard & Machinery Works. "Outline". Retrieved 2011-02-28.
- "Mitsubishi's rocky road". The New York Times. 29 January 2005. Retrieved 17 July 2012.
- "Mitsubishi seeks $5.2bn bail out". BBC News. 28 January 2005. Retrieved 17 July 2012.
- "Mitsubishi announces order for 100 regional jets". The Sydney Morning Herald. 2 October 2009. Retrieved 17 July 2012.
- "Japan jet business gets boost with big US order". Reuters. 2 October 2009. Retrieved 17 July 2012.
- "Hitachi, Mitsubishi edge towards groundbreaking merger". Reuters. 4 August 2011. Retrieved 17 July 2012.
- "Shares of Hitachi and Mitsubishi Heavy get merger boost". BBC News. 4 August 2011. Retrieved 17 July 2012.
- "Mitsubishi Heavy, Hitachi shares tumble as merger talks stall". Reuters. 4 August 2011. Retrieved 17 July 2012.
- "Hitachi and Mitsubishi Heavy shares rise after merger". BBC News. 30 November 2012. Retrieved 11 December 2012.
- "MHI, Hitachi plan to merge thermal power units to boost overseas sales". The Japan Times. 30 November 2012. Retrieved 11 December 2012.
- Jens Hack and Natalie Huet, "Siemens and Mitsubishi challenge GE with Alstom offer", Reuters (June 16 2014).
- Toyota to sink $67.2 mln in Mitsubishi passenger jet, China Economic Net, May 23, 2008
- United Tech Sells 3 Businesses For $3.5B. Manufacturing.net (2012-12-13). Retrieved on 2013-08-16.
- "Boeing enters pact with Japanese consortium for supply of 777X plane parts". Chicago Chronicle. Retrieved 12 June 2014.
- AREVA and MHI Sign Memorandum of Understanding on the Establishment of a Joint Venture for Their New Reactor
- Nuclear power in Japan
- MHI Establishes New Company for FBR Development
- Track Record | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp (2010-05-27). Retrieved on 2013-08-16.
- Review of Operations | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
- Mitsubishi Heavy Joins With Vestas in Offshore Wind Projects
- GTCC (Gas Turbine Combined Cycle power plant) | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
- Gas Turbines | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
- Steam Turbines | Mitsubishi Heavy Industries, Ltd. Mhi.co.jp. Retrieved on 2013-08-16.
- Wind Turbine Generators | Mitsubishi Heavy Industries, Ltd
- "Mitsubishi Heavy to make lithium ion car batteries", Reuters, 23 January 2007, as found at Yahoo! Singapore Finance website
- Chida, Momohei and Peter N. Davies. (1990). The Japanese Shipping and Shipbuilding Industries: A History of their Modern Growth. London: Athlone Press. 10-ISBN 0-485-11271-X; 13-ISBN 978-0-485-11271-9; OCLC 20799046
- Kizu, Shigetoshi. (1984). A 100 Years' History of the Ships of Nippon Yusen Kaisha. Tokyo: NYK. 10-ISBN 4-905551-20-X; 13-ISBN 978-4-905551-20-1; OCLC 16781302
- Ponsonby-Fane, Richard Arthur Brabazon. (1935). The Nomeclature of the N.Y.K. Fleet. Tokyo: NYK. OCLC 27933596
- Wray, William D. (1984). Mitsubishi and the N.Y.K., 1870-1914: Business Strategy in the Japanese Shipping Industry. Cambridge: Council on East Asian Studies, Harvard University, Harvard University Press. 10-ISBN 0-674-57665-9; 13-ISBN 978-0-674-57665-0; OCLC 10825248