Defense
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Mitsubishi Heavy Industries

Explore Company

$MHVYF

🇯🇵

Japan's largest defense contractor. ¥4.7T FY2024 revenue (~$31B; defense portion ~¥1.2T / ~$8B). F-2 + F-15J upgrades, Type 10 + Type 90 tanks, Soryu/Taigei subs, FFM frigates, GCAP partner, Type 12 SSM (export to Philippines), JNAAM. Japan's defense budget 2x'd 2022-2027 driving ramp.

Key Milestones

Apr 1884
Launch

Founded as Nagasaki Shipyard when Yataro Iwasaki leases the government-owned Nagasaki facility from the Meiji government; foundation of Japan's modern shipbuilding and the Mitsubishi zaibatsu

Dec 1932
Product

A6M Zero fighter prototype project begins (first flight 1939); becomes signature WWII Imperial Japanese Navy fighter — over 10,000 produced

Jan 2014
Commercial

Type 12 SSM (anti-ship missile) enters JGSDF service; coastal defense modernization; later (Dec 2023) extended-range variant ordered as first major Japanese stand-off strike capability

Apr 2018
Milestone

First F-35A assembled at Komaki Aircraft Works final assembly and check-out (FACO) facility; Japan domestic F-35 production starts

Dec 2020
Launch

Selected as F-X (later GCAP) prime for Japan; replaces F-2 fleet from 2035+; partners with BAE Systems Tempest team — historic UK-Japan-Italy 6th-gen alignment

Dec 2022
Partnership

GCAP merger announced: Japan F-X joins UK Tempest + Italy as 6th-gen partner; first major UK-Japan defense pact — historic shift from US-Japan-only fighter cooperation

Apr 2023
Commercial

Mogami-class FFM frigate first 4 hulls in service; rapid build cadence for cost-effective frigate (~$370M each, half the cost of Maya-class destroyer); 22 hulls planned

Dec 2023
Product

Type 12 SSM extended-range variant ordered (~1,000km range); surface-launched land-attack first major Japanese stand-off strike capability — counter-strike doctrine inflection

Apr 2024
Launch

Japan-US AAV-7 amphibious replacement won by BAE/AMV but MHI awarded JGSDF Type 23 IFV development; counter-amphibious lift modernization

Aug 2024
Expansion

Philippines orders 5 coastal Type 12 SSM batteries; Japan's first major lethal-systems export under 2014 lifted Three Principles on Arms Transfer

Feb 2025
Partnership

GCAP Edgewing JV (BAE+MHI+Leonardo) operational headquartered Reading UK; lead organization for next-gen fighter program; Japan workshare ~33%

Aug 2025
Milestone

Defense backlog hits ¥2T+; Japan defense budget doubling 2022-2027 (¥43T) fully reflects in MHI production rate — best growth period for Japanese defense industry since 1980s

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Defense - Mitsubishi Heavy Industries | Sterling