One of Japan’s top shipbuilders is going through yet another restructuring. From January 1, Mitsubishi Heavy Industries will create two new divisions for its shipbuilding business. Mitsubishi Shipbuilding will focus on high tech vessels while Mitsubishi Heavy Industries Marine Structure will be tasked with more simple, series construction ships as well as large marine structures.
Mitsubishi Heavy is one of Japan’s oldest shipbuilders. Founded in 1884, it has three yards around Japan. Forays into cruise shipbuilding have proved costly in recent years, while the rise of cheaper Chinese yards has also hit revenues.
