Mitsubishi \u200bElectric plans to build three facilities to produce \u200belectronic systems for the advanced fighter \u200cbeing developed \u200bby Japan, Britain and Italy, and expects the project to contribute to profits by the end of the decade, its chief financial officer said.<\/p>\n
The \u200cJapanese company is a key participant in the Global Combat Air Programme (GCAP), which aims to deploy a frontline fighter by 2035. Its construction plans are a sign that the project is moving beyond government agreements and preliminary design \u200cinto an industrial build-up. “My sense is that it could begin contributing to earnings around fiscal 2029 \u200cor 2030, or perhaps a year before that,” Kenichiro Fujimoto said in an interview. The company will receive compensation for deploying personnel and building prototypes, he added. GCAP is led industrially by Mitsubishi Heavy Industries in Japan, BAE Systems PLC in Britain and Leonardo in Italy. \u2060Canada \u200bhas joined as an \u2060observer, while Germany and Saudi Arabia have been discussed as possible additional partners, although project officials have said new entrants must not delay \u2060the 2035 rollout target.<\/p>\n
The Japanese maker of radars and missiles is seeking to increase annual defence business sales by \u200bmore than half to 690 billion yen ($4.4 billion) by March 2031. The company expects exports to account \u2060for a significant portion of that growth, including GCAP work, equipment for the Mogami-class warships Japan will supply to Australia and components for \u2060AIM-120 \u200bAMRAAM air-to-air missiles made by U.S. defence company RTX Corp. Japan in April eased decades-old restrictions on arms exports in a bid to strengthen its domestic defence industry as conflicts in Ukraine and the Middle \u2060East strain Western weapons production. The depletion of U.S. missile stocks during its conflict with Iran, along with weapons supplied \u2060to Ukraine, could \u2060create opportunities for Japanese manufacturers as Washington seeks to replenish its arsenals, Fujimoto said.<\/p>\n
“There is nothing specific I can disclose, but at the macro level, the possibility exists,” \u200che said. ($1 = \u200c157.7100 yen) <\/p>\n
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