Japan's Mitsubishi Heavy Industries sees shares jump nearly 4% on first ever warship export deal
By Lim Hui Jie
Published on April 20, 2026.
Japan's Mitsubishi Heavy Industries (MISubishi) has secured the first ever warship export deal, securing a contract to deliver the first three Mogami-class warships to Australia's navy in 2026. The deal is part of a wider military build up aimed at boosting Australia's long-range firepower against China. Australia has committed up to AU$20 billion towards a fleet of 11 general purpose frigates, with MHI building the first ones. Other companies involved in the deal include NEC Corporation, Mitsubish Electric and Hitachi, which will provide radar, antenna and other systems for the ships.
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