Yomiuri Shimbun Staff Writer
Mitsubishi Heavy Industries Ltd. is considering constructing a new shipbuilding-related facility in Shimonoseki, Yamaguchi Prefecture, according to sources.
Construction is expected to begin in April, with the goal of operations starting in 2030. As the Japanese government moves forward with support measures aimed at revitalizing the domestic shipbuilding industry, the company plans to transfer some production functions from its shipyard in the city to the new facility.
The company plans to expand into Choshu Dejima, an artificial island where development is being carried out by entities including the Shimonoseki city government. If approved by the city assembly, the company intends to purchase about 14.4 hectares of land for about 3 billion yen.
The company currently produces ferries, car carriers and cable-laying vessels at its Enoura Plant in Shimonoseki. The planned transfer of functions to the new facility is apparently intended to expand the company's overall production capacity.
Shipbuilding is the company's founding business, but the company has been gradually scaling back its production capacity due to intensifying competition from Chinese and South Korean rivals and has effectively withdrawn from the construction of large vessels. In 2022, it transferred the main facilities of its Koyagi Plant in Nagasaki City, which houses one of Japan's largest shipbuilding docks, to Nagasaki Prefecture-based Oshima Shipbuilding Co.
Shipbuilding is one of the 17 sectors designated by the government as priority investment areas. The government has set a target of increasing Japan's annual shipbuilding volume to 18 million gross metric tons by 2035, double the 2024 level.
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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.
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