Mitsubishi Heavy Industries
“Market Cap $19.44 B As of May 2014
At a Glance
- Industry: Heavy Equipment
- Founded: 1950
- Country: Japan
- CEO: Hideaki Omiya
- Website: www.mhi.co.jp
- Employees: 68,213
- Sales: $31.83 B
- Headquarters: Tokyo
#337 Global 2000
- #289 in Sales
- #505 in Profit
- #566 in Assets
- #569 in Market value
Mitsubishi Heavy Industries, Ltd. engages in the manufacture and sale of ships, industrial machinery, and aircrafts. It operates through the following segments: Shipbuilding and Ocean Development, Power Systems, Machinery and Steel Infrastructure Systems, Aerospace Systems, General Machinery and Special Vehicles, and Others. The Shipbuilding and Ocean Development segment manufactures, installs, sells, and provide services for LNG, LPG carriers; cruise ships, car ferries, car carriers, crude oil carriers, container ships, and other ships; defense and patrol vessels and marine structures. The Power Systems segment manufactures, installs, and sells boilers, steam turbines, gas turbines, water turbines plants, wind turbines plants, geothermal power plants, DeNOX systems, marine machinery, pumps, desalination plants, and lithium-ion secondary batteries. It also operates in nuclear energy systems such as pressurized water reactor nuclear power plants and equipment, advanced reactor plants, and nuclear fuel cycle plants. The Machinery and Steel Infrastructure Systems segment consists of transportation systems, toll and fare collection machinery and other ITS equipment, petrochemical plants, flue gas desulfurization systems, flue gas carbon dioxide recovery plants, and other environmental and chemical plants, oil and gas production systems, waste treatment equipment, compressors and turbines, iron and steel machinery, medical systems, transportation equipment, cranes and material handling systems, rubber and tire machinery, bridges, hydraulic gates, stacks, vertical parking garages, social infrastructure, injection molding machines, food and packing machinery, printing machinery, and packaging machinery. The Aerospace Systems segment manufactures and sells jet fighters, helicopters, commercial transport aircrafts, structural parts and components of aircraft, aero engines, missiles, torpedoes, and space systems. The General Machinery and Special Vehicles segment offers forklift trucks, construction machinery, engines, turbochargers, agricultural machinery, tractors, and special vehicles. The Other segment includes air-conditioning and refrigeration systems, machine tools, precision cutting tools, and power transmissions. The company was founded by Yataro Iwasaki on July 7, 1884 and is headquartered in Tokyo, Japan.“
“Mitsubishi Heavy Industries History
The origin of MHI can be all the way back to 1884.
In that year, Yataro Iwasaki, the founder of Mitsubishi took a lease of Government-owned Nagasaki Shipyard. He named it Nagasaki Shipyard & Machinery Works, and started the shipbuilding business on a full scale.
This shipbuilding business was later turned into Mitsubishi Shipbuilding Co., Ltd., and was again launched as Mitsubishi Heavy-Industries, Ltd. in 1934, establishing its position as the largest private firm in Japan, manufacturing ships, heavy machinery, airplanes, and railroad cars.
Following the end of World War II, a law aimed at dissolving “zaibatsu” or Nagasaki Shipyard & Machinery Works dismantling the over concentration of economic power was in effect. Thus, in 1950, MHI was divided into three entities: West Japan Heavy-Industries, Ltd., Central Japan Heavy-Industries, Ltd. and East Japan Heavy-Industries, Ltd. It was later consolidated in 1964 and reborn as Mitsubishi Heavy Industries, Ltd.
In 1970, MHI’s automobile department became independent and Mitsubishi Motors Corporation began manufacturing and marketing automobiles.
Integrating each company’s management and technical expertise and enhancing competitiveness in domestic and international markets, MHI has come a long way.
The “Three Diamonds”, company symbol of Mitsubishi Heavy Industries, Ltd.
The “Three Diamonds”, company symbol of Mitsubishi Heavy Industries, Ltd., originated with the symbol of the ship’s flag which the company’s forefather, Tsukumo Shokai, adopted when it started the shipping business. This symbol is a transformed version of the family emblem of Yataro Iwasaki, the founder of Mitsubishi.”
*Information from Forbes.com and Mhi.co.jp
**Video published on YouTube by “CYPIN LTD Air Conditioning“