Statement Regarding the Result of the Australia Future Submarine Program Competitive Evaluation Process

Mitsubishi Heavy Industries, Ltd.
MHI participated in the competitive evaluation process for Australia's future submarine in collaboration with the Japanese government. It is deeply regrettable that Japan's capabilities were not sufficiently conveyed, which has led to the result announced today.
Japan alone has a decades-long track record in the construction and operation of 4,000-ton class conventional submarines. We continue to believe that, as Australia's partner, we would create employment and business opportunities not only through the construction of the submarines, but across a wide range of industries, bringing a wave of investment to Australia.