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Nikkei Asia

Japan's top shipbuilder Imabari to make No. 2 JMU a subsidiary

Imabari Shipbuilding accounts for 30% of Japan's shipbuilding by weight. (Photo by Mayuko Suzuki) TOSHIHIDE TAKEDA TOKYO -- Imabari Shipbuilding, Japan's leader in the field, announced on Thursday that it will boost its stake in second-ranked Japan Marine United (JMU) to 60% and make it a subsidiary, looking to lower costs and increase competitiveness with Chinese and South Korean rivals. The acquisition amount has not been disclosed. The deal is subject to notification and approval from relevant domestic and overseas authorities, with completion expected to take several months.