ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Aerospace & Defense

Mitsubishi SpaceJet builder slashes capital 99% to offset losses

Project to commercialize Japan's first jetliner was frozen last autumn

A SpaceJet prototype lands at Nagoya Airport in March 2020. (Photo by Koji Uema)

NAGOYA, Japan -- The company behind the Mitsubishi SpaceJet reduced its capital by more than 99% last month to help cover losses stemming from its now-frozen plan to build Japan's first jetliner.

Mitsubishi Aircraft, a unit of Mitsubishi Heavy Industries, cut its capital to 500 million yen ($4.6 million) from 135 billion yen. Capital reserves were eliminated. Capital and capital reserves had previously totaled 270 billion yen.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more