TOKYO -- Imabari Shipbuilding, Japan's leader in the field, announced on Thursday that it will boost its stake in second-ranked Japan Marine United (JMU) to 60% and make it a subsidiary, looking to lower costs and increase competitiveness with Chinese and South Korean rivals.
Transportation
Japan's top shipbuilder Imabari to make No. 2 JMU a subsidiary
Move aimed at cutting costs in face of competition from China, South Korea
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Imabari Shipbuilding accounts for 30% of Japan’s shipbuilding by weight. (Photo by Mayuko Suzuki)
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