August 9, 2018
On May 25 2018, JTEKT announced that they had not reach an agreement of its machine tool business alliance with Mitsubishi Heavy Industries.
In December 2018, the two companies agreed on business alliance including capital tie-up with JTEKT’s Mitsubishi Heavy Industries Machine Tool that is a subsidiary of MHI and started negotiations for formal contract.
However, JTEKT’s board decided to cancel the agreement on the same day.
JTEKT’s mainstay is cylindrical grinder for automotive components, while Mitsubishi Heavy Industries Machine Tool’s specialty includes gear processing machines and 5-face milling machines.