Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Tokyo  >  Mitsubishi Heavy Industries Ltd    7011   JP3900000005

News SummaryMost relevantAll newsSector newsTweets

MRJ regional jet on target for first delivery in mid-2020

share with twitter share with LinkedIn share with facebook
share via e-mail
06/18/2017 | 04:11pm CEST
Mitsubishi Heavy Industries President and Chief Executive Shunichi Miyanaga attends a news conference in Tokyo

Japan brought its first passenger aircraft in half a century to the Paris Airshow, confirming it is on track for first delivery in mid-2020 and hoping to show potential customers the progress it has made.

The 90-seat Mitsubishi Regional Jet (MRJ) is Japan's first commercial aircraft in 50 years but it has been delayed five times and is facing rising costs.

"We have brought it here to demonstrate that the plane is making good progress," Shunichi Miyanaga, the president and chief executive of Mitsubishi Heavy Industries (>> Mitsubishi Heavy Industries Ltd), told journalists at the Paris Airshow on Sunday.

He said he did not expect to announce any orders at the show but would be speaking to many potential customers.

Yugo Fukuhara, vice president of sales and marketing at Mitsubishi Aircraft Corp, said he hoped Swedish leasing company Rockton, which last year signed for up to 20 of the MRJ planes, would help market the jet to European customers.

Europe is the second largest market for regional aircraft after the United States.

"There are a lot of regional jets still operating in Europe and we have some great opportunity to replace those with the MRJ," he told Reuters.

The MRJ, which is on static display at the air show, was delayed for two more years in January to redesign its wiring and meet the requirements for certification by the U.S. Federal Aviation Administration (FAA).

Mitsubishi Aircraft Corp has now brought French company Latecoere (>> Aviation Latécoère) on board to introduce new wiring, Alex Bellamy, senior director of the programme management office at Mitsubishi Aircraft Corp, said.

When asked whether it could be delivered sooner, Mitsubishi Aircraft Corp president Hisakazu Mizutani said the company was aiming for mid 2020 but was working hard to bring the technology forward.

Launch customer ANA, which has resorted to leasing jets and pushing back the retirement of older aircraft while its awaits the delayed MRJ, said on Sunday it remained committed to the programme.

"As an airline, we are completely ready to receive it," Osamu Shinobe, vice chairman of ANA Holdings, said.

(Reporting by Victoria Bryan Editing by Louise Heavens and Mark Potter)

share with twitter share with LinkedIn share with facebook
share via e-mail
08/20 MITSUBISHI HEAVY INDUSTRIES : 3rd Japanese GPS Satellite Launched Successfully
08/19 MITSUBISHI HEAVY INDUSTRIES : Successful Launch, H-IIA Launch Vehicle No. 35 Enc..
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Cell Module (USPTO 9728753)
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Steam Turbine Plant (USPTO 97260..
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Apparatus for Manufacturing a Wi..
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Turbocharger and Method of Manuf..
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Exhaust Gas Purification System ..
08/17 MITSUBISHI HEAVY INDUSTRIES : Patent Issued for Water Jet Peening Apparatus and ..
08/17 MITSUBISHI HEAVY INDUSTRIES : Launch Schedule Updates, H-IIA Launch Vehicle No. ..
08/17 MITSUBISHI HEAVY INDUSTRIES : Launch Schedule of H-IIA Launch Vehicle No. 35 Enc..
More news
News from SeekingAlpha
07/31 Mitsubishi Heavy Industries reports Q1 results
05/09 Mitsubishi Heavy Industries reports FY results
02/07 Mitsubishi Heavy Industries Ltd. 2017 Q3 - Results - Earnings Call Slides
02/02 Mitsubishi Heavy Industries reports 9M results
2016 Japanese And Regional Defence After TPP - 4 Stocks To Consider
Financials ( JPY)
Sales 2018 4 180 831 M
EBIT 2018 -
Net income 2018 112 194 M
Debt 2018 673 730 M
Yield 2018 2,91%
P/E ratio 2018 13,00
P/E ratio 2019 10,90
EV / Sales 2018 0,50x
EV / Sales 2019 0,48x
Capitalization 1 415 583 M
Duration : Period :
Mitsubishi Heavy Industrie Technical Analysis Chart | 7011 | JP3900000005 | 4-Traders
Technical analysis trends MITSUBISHI HEAVY INDUSTRIE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 522  JPY
Spread / Average Target 24%
EPS Revisions
Shunichi Miyanaga President, CEO & Representative Director
Hideaki Omiya Chairman
Masanori Koguchi Chief Financial Officer & Representative Director
Michisuke Nayama Director & Chief Technology Officer
Yoji Kawamoto Executive Officer & Manager-General Research
Sector and Competitors
1st jan.Capitalization (M$)
3M14.55%121 460
SIEMENS-4.88%110 906
DUPONT11.49%70 448