Mitsubishi Electric, MBDA to partner for missile development

|About: Mitsubishi Electric Corp. ADR (MIELY)|By:, SA News Editor

Mitsubishi Electric (MIELY), a missile supplier to Japan's Self Defense Forces, has agreed to partner with European missile consortium MBDA (comprised of Airbus (EADSY), BAE Systems (BAESF) and Finmeccanica (FINMF)), to develop an air-to-air missile for the F-35 fighter jet.

Looking to bring down its costs of defense manufacturing, Japan is now looking into selling to the global arms market.

If the partnership finalizes, it will mark the first time Japanese-made defense components will be used on missiles sold abroad, after the country lifted its four decade-old ban on military exports.