War Criminal Company Mitsubishi Heavy Industries Posts Operating Loss for First Time in 20 Years... One-Eighth of Previous Year's Level

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Mitsubishi Heavy Industries, a Japanese war crime company that forcibly conscripted Koreans during the Japanese colonial period, recorded an operating loss for the first time in 20 years.

According to the Nihon Keizai Shimbun on the 12th, Mitsubishi Heavy Industries recorded an operating loss of approximately 29.5 billion yen (about 337 billion KRW) for the fiscal year 2019 (April 2019 to March 2020).

This is about one-eighth of the previous year's 250 billion yen (about 2.2893 trillion KRW), showing a sharp deterioration in performance within one year.

The Nihon Keizai Shimbun reported that this is the first operating loss recorded since the 1999 fiscal year, 20 years ago.

The loss in the small aircraft 'Space Jet' business had a significant impact on the worsening performance. Mitsubishi Heavy Industries is known to have recorded a loss of about 260 billion yen (about 2.9697 trillion KRW) in this business alone over the past year. In addition, the impact of the novel coronavirus infection (COVID-19) is estimated at 140 billion yen.

Meanwhile, the Korean Supreme Court ruled in November 2018 in a damages lawsuit filed by conscription victims, ordering Mitsubishi Heavy Industries to pay about 100 million KRW per conscription victim. Mitsubishi Heavy Industries did not comply with this ruling, and as a result, its intellectual property rights such as trademarks in Korea were seized.

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