Mitsubishi eyes emerging countries for space satellite orders
TOKYO, April 13 (Kyodo) — Mitsubishi Electric Corp. unveiled Friday its space satellite manufacturing factory that would double its production capacity to eight per year, eyeing emerging economies such as Southeast Asian countries as potential markets.
The six-story plant with floors stretching 7,820 square meters is built adjacent to the company's existing production facility in Kamakura, Kanagawa Prefecture, for around 3 billion yen in investment. It is scheduled to operate in late May.
Masamitsu Okamura, head of the plant, said, "We would like to tap demand for communications and other types of satellites that should grow chiefly in Southeast Asia and other emerging economies."
The company is hoping to more than double sales of its space-linked businesses to 150 billion yen ($1.52 billion) in fiscal 2020 from its projected 70 billion yen in fiscal 2012.