Mitsubishi Heavy Industries Acquires Municipal Land in Shimonoseki, Plans to Establish New Shipbuilding Plant

Mitsubishi Heavy Industries announced that it has acquired city-owned land on an artificial island in Shimonoseki City, Yamaguchi Prefecture, and plans to build a new factory to enhance the competitiveness of its shipbuilding business.

Why it matters. This move by Mitsubishi Heavy Industries will help enhance the competitiveness of its shipbuilding business and influence the market position of Japan's shipbuilding industry.