Author: Lucas

TOKYO, Oct 28 (Reuters) – Mitsubishi Heavy Industries (7011.T), opens new tab (MHI) said it has asked several other companies to temporarily employ idle workers from its factories in central Japan in a bid to cut costs and weather a downturn from the COVID-19 pandemic, two sources told Reuters.MHI has approached firms in Aichi Prefecture including Toyota Motor Corp-affiliated parts maker Toyoda Gosei (7282.T), opens new tab, about transferring dozens of workers for up to three years from January, the sources with knowledge of the plan said. Sign up here.They asked not to be identified because they are not authorised…

Oct 30 (Reuters) – Japan on Friday said it had picked Mitsubishi Heavy Industries (7011.T), opens new tab (MHI) to lead the development of a new stealth fighter jet that Japan wants operational by the mid-2030s to counter advanced Chinese aircraft.”We awarded the prime contract to Mitsubishi Heavy,” a ministry of defence spokesman said. Sign up here.The fighter jet project, which is expected to cost about $40 billion, comes at an opportune time for MHI, as the company is pulling back from plans to build its SpaceJet regional passenger aircraft as coronavirus travel curbs leave airlines with little cash to…