Tsuneishi 'strengthens' shipbuilding portfolio with full acquisition of Mitsui E&S unit

Japan’s Tsuneishi Shipbuilding has made the decision to acquire all shares of compatriot Mitsui E&S Shipbuilding from ship equipment manufacturer Mitsui E&S, making it a wholly-owned subsidiary.

The transaction was made official on June 30 this year. Going forward, Mitsui E&S Shipbuilding will operate under the name Tsuneishi Solutions Tokyobay. The name change was initially announced four days before the acquisition was wrapped up.

The two maritime industry players agreed on the main terms and conditions regarding this deal all the way back in 2021. At the time, it was revealed that Mitsui E&S Holdings would transfer 49% of the shares of its merchant shipbuilding to the new business, which would be wholly owned by Tsuneishi.

Ever since entering into a capital alliance in October 2021, Tsuneishi Shipbuilding and Tsuneishi Solutions Tokyobay reportedly worked together to leverage the synergism between cost competitiveness and technological expertise.

As explained, in light of this, the decision to proceed with the full acquisition instead was prompted by the need for further integration to “ensure sustainable growth and enhanced competitiveness.”

Tsuneishi Shipbuilding has been a long-time player in Japan’s vessel construction sector, having been founded in 1917. Headquartered in the Hiroshima Prefecture, the