TOKYO -- The top two Japanese shipbuilders, Imabari Shipbuilding and Japan Marine United, are forming an alliance to navigate a global industry in flux amid blockbuster mergers in South Korea and China.
The two unlisted companies will enter into a capital tie-up, according to Friday's announcement. They are negotiating a deal where Imabari, the larger of the two, will take a nearly 30% stake in JMU by purchasing new shares. A final agreement is due by fiscal year-end.
