Mitsubishi Heavy Industries will acquire an artificial island in Shimonoseki, Yamaguchi Prefecture, and invest approximately ¥100 billion to expand its shipbuilding capacity. The company plans to strengthen its production structure by building a new hull-block plant and transferring some functions from the Eura Plant, with up to ¥40 billion of the investment expected to be subsidized by the government.
Mitsubishi Heavy Industries announced that it had acquired an artificial island developed by Shimonoseki, Yamaguchi Prefecture, as an industrial promotion site. With global ship demand rising and support from the Japanese government from an economic security perspective, the company is proceeding with plans to expand its shipbuilding capacity.
Specifically, Mitsubishi Shipbuilding, a subsidiary of Mitsubishi Heavy, will invest approximately ¥100 billion, transfer some functions from the Eura Plant at the Shimonoseki Shipyard, and build a new plant for manufacturing hull blocks to strengthen its production structure.
The government will subsidize up to ¥40 billion of the investment.
In September, the plan was certified by the Ministry of Land, Infrastructure, Transport and Tourism as a plan to secure the supply of specified critical goods and materials (ship components) under the Economic Security Promotion Act.