|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||25.62 - 25.62|
|52 Week Range||22.66 - 44.60|
|Beta (5Y Monthly)||1.00|
|PE Ratio (TTM)||11.51|
|Forward Dividend & Yield||1.39 (5.42%)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||N/A|
SpaceJet regional aircraft maker, Mitsubishi Aircraft, said it is closing overseas operations that employ hundreds of people and may cut staff at home after its parent company slashed the development budget for Japan's first commercial aircraft in a century. The move, which comes as the coronavirus pandemic wreaks havoc on the aviation industry, casts doubt over the future of Japan's commercial aircraft ambitions and will at the very least delay certification of Mitsubishi's first plane, the M90. Mitsubishi Aircraft has already shelved plans for a shorter variant, the M100, seen as key to winning orders in the lucrative U.S. market.
Japan's Aerospace Exploration Agency (JAXA) is launching a Mitsubishi Heavy Industries (MHI) H-IIB rocket carrying the last of its H-II transfer vehicles. This cargo spaceship has enjoyed a long career of delivering supplies, payloads and experiments to the International Space Station, but MHI is working on a successor that will aim to begin flying in 2022, with advanced capabilities, including automated docking. This launch is important not just because it's a milestone for the MHI launch vehicle family, and an ending of sorts before the next phase, but also because it's carrying some very interesting cargo.
"We have to reconsider how we move forward," MHI Chief Executive Officer Seiji Izumisawa said during a press briefing to announce the company's latest results. Despite six delays that have pushed the first delivery back from 2013, MHI has remained committed to a project that Japan's government has promoted as a once in a generation chance for the country to establish itself as a commercial passenger jet maker. While MHI and other Japanese aerospace companies are key suppliers and manufacturing partners to Airbus SE and Boeing Co, they have not built a commercial passenger plane in half a century.
Eight years after arriving from Brazil, Rennan Yamashita sat in a government office in central Japan, filling out forms for unemployment insurance after losing his job for the ninth or 10th time - he has lost count. The coronavirus pandemic has hit Japan's economy hard and many factories, including those of carmakers, are scaling back production. Foreign workers are particularly vulnerable, with a weaker support network and language barriers that prevent them from seeking government help.
A bold mission by the Japan Aerospace Exploration Agency (JAXA) to Mars' two moons, including a lander component for one of them, is all set to enter the development phase after the plan was submitted to the Japanese government's science ministry this week. Dubbed the "Martian Moons Exploration" (MMX) mission, the goal is to launch the probe in 2024, using the new H-3 rocket being developed by Mitsubishi Heavy Industries, which is expected to launch for the first time sometime later in 2020. The probe will survey and observe both Phobos and Deimos, the two moons that orbit the Red Planet, which are both smaller and more irregularly shaped than Earth's Moon.
Japan's Mitsubishi Heavy Industries <7011.T> said on Thursday it will book a 496.4 billion yen ($4.5 billion) special loss after its aircraft unit delayed the delivery of its SpaceJet regional jet for at least another year until after March 2021. The sixth delay announced by Mitsubishi Aircraft is a fresh blow to Japan's commercial jet ambitions and could stretch Mitsubishi Heavy Industries' finances. The new postponement also means an aircraft that Mitsubishi Heavy had planned to bring to market in 2013, will have to compete against a new generation of regional jets built by Brazil's Embraer SA <EMBR3.SA>.
Mitsubishi Heavy Industries Ltd <7011.T> is confident that it has the technical and production know-how to build high-tech wings for Airbus SE <AIR.PA> jetliners, the chief executive of the Japanese conglomerate said on Wednesday. MHI developed sophisticated production processes at its facility in Nagoya in the process of building wings for the Boeing Co <BA.N> 787 Dreamliner, Chief Executive Seiji Izumisawa said in an interview. It is not yet clear whether Airbus plans to outsource wings on future jets, such as its next-generation single-aisle aircraft, which could come out in about a decade.
Mitsubishi Heavy Industries Ltd <7011.T> is rethinking the timetable for Japan's first new commercial aircraft in 50 years and cannot commit to its target of making initial deliveries by mid-2020, the company's chief executive said on Wednesday. Chief Executive Seiji Izumisawa confirmed delays with a new fuselage for the jet. "Given where we are in the process today, which is we're revisiting the schedule to consider what the schedule will be, everything becomes hypothetical," he said an interview with Reuters, referring to the mid-2020 delivery target to customer All Nippon Airways <9202.T>.
Japan's Mitsubishi Aircraft said on Thursday one of its biggest customers, Trans States Holdings (TSH), has cancelled an order for 50 of its SpaceJet M90s because the aircraft do not comply with U.S. union rules on regional jet use. The scope clause, however was not relaxed as anticipated," Mitsubishi Aircraft president, Hisakazu Mizutani, said in a statement. The TSH cancellation leaves the Japanese planemaker with only 163 firm orders, and will be a fresh blow to Japan's ambition to establish an independent aircraft industry unless Mitsubishi Aircraft can persuade TSH and other U.S customers to switch to its SpaceJet M100, a revamped version of the aircraft that will comply with the U.S. union rule.
The animosity between Japan and South Korea is entwined with the history of Japan's 1910-45 occupation of the Korean peninsula, the mobilisation of forced labour at companies and women in wartime brothels, and a row over the ownership of islets in the sea between the two nations. Last October, South Korea's Supreme Court ordered Japan's Nippon Steel & Sumitomo Metal Corp and Mitsubishi Heavy Industries to compensate some wartime forced labourers. The ruling infuriated Tokyo, which sees the former labourers' right to reparation ceased under a 1965 treaty normalising diplomatic ties.
Such a delay would be the sixth for the programme, which aims to revive Japan's dormant commercial aviation industry. The plane, this year renamed the SpaceJet instead of the Mitsubishi regional jet, was originally due to enter service in 2013. Jefferies analyst Sho Fukuhara said in a note to clients that the delays, if confirmed, could trigger market concerns about Mitsubishi Heavy Industries Ltd <7011.T>, the planemaker's largest shareholder.
Worthington (WOR) acquires Heidtman Steel Products' pickling and slitting facility, and strengthens its processing capacity for value-added steel.
Chart Industries (GTLS) is poised to gain from a diversified business structure, LNG projects, the acquisition of Harsco's Industrial Air-X-Changers business and a measure to improve operational efficiency.
Global uncertainties and tariffs weigh on the Industrial Products sector while technological advancements and e-retailing are positives for the space. We present four stocks that are investment worthy.
The new center is expected to create about 100 jobs in the first year of its operation, Mitsubishi Aircraft Corp said in a statement. Earlier this year, the company agreed to buy Bombardier's <BBDb.TO> money-losing CRJ regional jet business for $550 million in cash to gain access to a global maintenance and support base that could help in SpaceJet sales. Reuters had reported that the center would support the development of Mitsubishi's smaller Spacejet model, the 65- to 76-seat M100 jet, in collaboration with sites in Japan and Seattle.
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During a press conference held just after 6 AM JST, Mitsubishi Heavy Industries Launch Director Atsutoshi Tamura and the Director of JAXA's Tanegashima Space Center Takeshi Fujita detailed what the two partners knew so far about the cause of their aborted HTV-8 mission on Tuesday. The launch, scheduled to take place at 6:33 AM JST, instead was officially scrubbed at around 4:34 AM JST due to a fire on the mobile launcher upon which the Mitsubishi Heavy Industries H-IIB rocket was sitting ready for launch. The fire began at 3:05 AM JST according to Tamura, and efforts began immediately to extinguish it immediately, with the fire finally being completely put out (as far as JAXA and MHI can tell) by 5:10 AM JST.
South Koreans forced to work for Japanese occupiers will seek a court order to forcibly liquidate Japan's Mitsubishi Heavy Industries' assets to compensate them, their lawyers said on Tuesday, risking more Japanese anger over the issue. The question of compensation for South Koreans for labour during Japan's 1910-45 occupation of the Korean peninsula has soured the U.S. allies' relations, which took a turn for the worse this month when Japan restricted exports of high-tech material to South Korea. Japan has denied that the dispute over compensation for labourers is behind the export curbs, even though a Japanese government minister this month cited broken trust with South Korea over the labour dispute in announcing the export restrictions.
South Koreans forced to work for Japanese occupiers will seek a court order to forcibly liquidate Japan's Mitsubishi Heavy Industries' <7011.T> assets to compensate them, their lawyers said on Tuesday, risking more Japanese anger over the issue. The question of compensation for South Koreans for labor during Japan's 1910-45 occupation of the Korean peninsula has soured the U.S. allies' relations, which took a turn for the worse this month when Japan restricted exports of high-tech material to South Korea. Japan has denied that the dispute over compensation for laborers is behind the export curbs, even though a Japanese government minister this month cited broken trust with South Korea over the labor dispute in announcing the export restrictions.