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Aerospace & Defense

Mitsubishi Heavy set to take over Mitsui's sub hunter shipyard

Japan's naval shipbuilders consolidate into three groups

Japan's newest sub hunter Aki launches at Mitsui Engineering & Shipbuilding's shipyard in Okayama Prefecture in January.

TOKYO -- Japanese defense contractor Mitsubishi Heavy Industries will begin discussions to buy Mitsui Engineering & Shipbuilding's warship production assets, including a historical shipyard where Japan's latest submarine hunter was built.

The two sides aim to sign the final contract by the end of the year, Mitsubishi Heavy said Friday, and complete the deal in October 2021. The acquisition price has yet to be determined.

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