Mitsubishi Heavy Industries

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Mitsubishi Heavy Industries, Ltd.
*Mitsubishi Jūkōgyō Kabushiki-kaisha*
三菱重工業

Type	Public KK
Traded as	TYO: 7011
Industry	Engineering Electrical equipment Electronics
Founded	1934, 1964
Headquarters	Minato, Tokyo, Japan
Area served	Global
Key people	Kazuo Tsukuda (Chairman) Hideaki Omiya (President)
Revenue	US$ 35.1 billion (2011)^[1]
Operating income	US$ 1.39 billion (2011)^[1]
Net income	US$ 0.30 billion (2011)^[1]
Employees	63,500
Divisions	Marine Vessel and Ocean Power Engine Machinery and Iron Structure Aviation and Space Medium-size Product
Website	mhi.co.jp

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 inTokyo, 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 defence-related activities it is the world's 23rd-largest defence contractor measured by 2011 defence revenues, and the largest based in Japan.^[3]

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

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[edit]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, atNagasaki.^[4] Renamed Nagasaki Seitetsusho in 1860, it was completed in 1861. Following the Meiji restoration of 1868, the shipyard was placed under control of the newMeiji government, and 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. The works was renamed Mitsubishi Shipyard of Mitsubishi Goshi Kaisha in 1893 and additional dry docks were completed in 1896 and 1905.^[4] In 1891, Mitsubishi Heavy Industries - Yokohama Machinery Works started as Yokohama Dock Company, Ltd, it was established Ship repairs by a purpose, and service by 1897.^[5]

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 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, with the Kobe Shipyard subsequently constructing the ocean liner Argentina Maru (later the aircraft carrier Kaiyo), the submarine I-19 and the 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 came under the allocated of West Japan Heavy Industries, Ltd., and the Nagasaki Shipyard was renamed Mitsubishi Shipbuilding & Engineering Co., Ltd. in 1952.^[4] The Mitsubishi Kobe Shipyard allocated to the Central Japan Heavy Industries,Ltd. in 1950.^[7]

In 1964, the three independent companies of Mitsubishi Heavy Industries, decentralized in 1950, were merged again into one company under the name of Mitsubishi Heavy Industries, Ltd., and the Nagasaki works was renamed the Nagasaki Shipyard & Engine Works. The Kobe works becomesMitsubishi Heavy Industries - Kobe Shipyard & Machinery Works in 1964. A container ship, a car carrier, a submarine were constructed in the Kobe.^[8]

In 1970, MHI's automobile department became independent and Mitsubishi Motors began manufacturing and marketing automobiles.

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]

[edit]Operations

The current headquarters of Mitsubishi Heavy Industries in Tokyo.

[edit]Aerospace

MHI has aerospace facilities in Nagoya, Aichi and Komaki, Aichi.

In the defense sector, MHI has produced jet fighters for theJapan 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 the787. 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%.^[16]

[edit]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.

[edit]Nuclear energy

See also: Mitsubishi FBR Systems and Atmea

The nuclear business of MHI operates facilities in Kobe, Yokohama, Kanagawa,Takasago, Hyogo. 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, has been selected for use in two sites in Japan and the United States. MHI has also signed a memorandum of understanding withAreva for the establishment of a joint venture for their next reactor design.^[17]

MHI has also been selected as the core company to develop a new generation of Fast Breeder Reactors (FBR) by the Japanese government.^[18] 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.^[19]

[edit]Shipbuilding

MHI has shipbuilding facilities in Nagasaki, Kobe and Shimonoseki, Japan.

Mitsubishi Heavy Industries - 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.