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Business deals

Mitsui E&S seeks shipbuilding tie-up with Mitsubishi Heavy

Competition overseas forces the company to cross traditional zaibatsu lines

Mitsui E&S plans joint bids with Mitsubishi Heavy Industries to build combat ships for the Japan Maritime Self-Defense Force, sources say.   © Reuters

TOKYO -- Ailing shipbuilder Mitsui E&S Holdings has reached out to peer Mitsubishi Heavy Industries about forming a tie-up in light of a massive loss that has necessitated a business restructuring, sources close to both companies told Nikkei.

As South Korean and Chinese shipbuilders opt for major mergers to bolster their competitiveness, Japanese counterparts have lagged behind in such efforts. Mitsui E&S hopes to regain an edge in a partnership that would defy traditional zaibatsu conglomerate lines.

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