Mitsubishi Heavy Industries (MHI) is developing a far-sighted new PWR (Pressurized Water Reactor). This next-generation MHI's PWR is an innovative mid-sized nuclear power plant with an electrical output of around 1.2 GW that features dramatically improved safety and reliability compared with existing technology based upon the experience obtained from the Fukushima Daiichi Accident. This new plant can appropriately respond to future Japan's energy situations such as the expanding use of renewable energy. This report summarizes the development concept and basic specifications.