TOKYO -- Kawasaki Heavy Industries is downsizing its struggling ship and offshore structure operations in Japan by around 30%. But while momentum for a broader realignment in Japanese shipbuilding is growing, once again the industry has failed to take the next step needed to better compete with bigger South Korean rivals.
The Tokyo-based group announced the segment restructuring plan Friday. It had committed itself to drawing up the plan by the end of March, with the possibility of withdrawing from shipbuilding or partnering with other players. But the version released on the very last day of the month did not include such steps.