Mitsubishi Heavy Industries - History

History

In 1857, at the request of the Tokugawa Shogunate, a group of Dutch engineers began work on the Nagasaki Yotetsusho, a modern, Western-style foundry and shipyard near the Dutch settlement of Dejima, at Nagasaki. Renamed Nagasaki Seitetsusho in 1860, it was completed in 1861. Following the Meiji restoration of 1868, the shipyard was placed under control of the new Meiji government, and the first dry dock was completed in 1879.

In 1884 Yataro Iwasaki, the founder of Mitsubishi, leased the Nagasaki Seitetsusho from the Japanese government, renaming it the Nagasaki Shipyard & Machinery Works and entering the shipbuilding business on a large scale. Iwasaki purchased the shipyards outright in 1887. The works was renamed Mitsubishi Shipyard of Mitsubishi Goshi Kaisha in 1893 and additional dry docks were completed in 1896 and 1905. In 1891, Mitsubishi Heavy Industries - Yokohama Machinery Works started as Yokohama Dock Company, Ltd, it was established Ship repairs by a purpose, and service by 1897.

The Mitsubishi Heavy Industries - Shimonoseki Shipyard & Machinery Works was established in 1914. It produced industrial machinery and merchant ships.

The Nagasaki company was renamed Mitsubishi Shipbuilding & Engineering Company, Ltd. in 1917 and again renamed as Mitsubishi Heavy Industries in 1934. It became the largest private firm in Japan, active in the manufacture of ships, heavy machinery, airplanes and railroad cars. Mitsubishi Heavy Industries merged with the Yokohama Dock Company in 1935. From its inception, the Mitsubishi Nagasaki shipyards were heavily involved in contracts for the Imperial Japanese Navy. The battleship Musashi was completed at Nagasaki in 1942.

The Kobe Shipyard of Mitsubishi Goshi Kaisha was established in 1905. The Kobe Shipyard merged with Mitsubishi Heavy Industries in 1934, with the Kobe Shipyard subsequently constructing the ocean liner Argentina Maru (later the aircraft carrier Kaiyo), the submarine I-19 and the I-25.

Following the dissolution of the zaibatsu after the surrender of Japan at the end of World War II, Mitsubishi divided into three companies. Mitsubishi Nagasaki came under the allocated of West Japan Heavy Industries, Ltd., and the Nagasaki Shipyard was renamed Mitsubishi Shipbuilding & Engineering Co., Ltd. in 1952. The Mitsubishi Kobe Shipyard allocated to the Central Japan Heavy Industries,Ltd. in 1950.

In 1964, the three independent companies of Mitsubishi Heavy Industries, decentralized in 1950, were merged again into one company under the name of Mitsubishi Heavy Industries, Ltd., and the Nagasaki works was renamed the Nagasaki Shipyard & Engine Works. The Kobe works becomes Mitsubishi Heavy Industries - Kobe Shipyard & Machinery Works in 1964. A container ship, a car carrier, a submarine were constructed in the Kobe.

In 1970, MHI's automobile department became independent and Mitsubishi Motors began manufacturing and marketing automobiles.

MHI participated in a ¥540 billion emergency rescue of Mitsubishi Motors in January 2005, in partnership with Mitsubishi Corporation and Mitsubishi Tokyo Financial Group. As part of the rescue MHI acquired ¥50 billion of Mitsubishi Motors stock, increasing its ownership stake to 15 percent and making the automaker an affiliate again.

In October 2009 MHI announced an order for up to 100 regional jets from the United States-based airline, Trans States Holdings.

MHI entered talks with Hitachi in August 2011 about a potential merger of the two companies, in what would have been the largest merger between two Japanese companies in history. The talks subsequently broke down and were suspended.