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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.

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