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Mitsubishi Heavy Industries Pockets $2.8B Missile Contracts From Japan: Report

Mitsubishi Heavy Industries Ltd (OTC: MHVYF) has reportedly secured contracts worth $2.84 billion (378 billion yen) from Japan.
byAkanksha Bakshi
April 11, 2023
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  • Mitsubishi Heavy Industries Ltd (OTC:MHVYF) has reportedly secured contracts worth $2.84 billion (378 billion yen) from Japan.
  • Under the contract, Mitsubishi Heavy will develop and build a new missile force aimed at deterring China from using military force in East Asia, reported Reuters.
  • The four contracts include land, sea and air-launched missiles and a hypersonic ballistic warhead that it wants to begin deploying from 2026, the report quoted Japan’s Ministry of Defense.
  • The new missile force, which is expected to be capable of striking ships and land targets more than 1,000 km from Japan, is at the center of that plan, mentioned the report.
 
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