17.07.2026

Konecranes moves into Japan

Finnish overhead and port crane manufacturer Konecranes has acquired Japanese hoist manufacturer Mitsubishi Electric FA Industrial Products.
Konecranes will pay an undisclosed sum of cash for a 70 percent controlling stake in the business, which is currently owned by Mitsubishi Electric Corporation and is part of its Factory Automation division. The transaction is expected to close early next year. It will boost Konecranes very limited presence in Japan.

Mitsubishi Electric FA Industrial Products began operations in 1944, as a branch of Mitsubishi’s Nagasaki Works and moved into its own plant in 1954. It is now based at its main plant in Fukuoka, north of Nagasaki. Revenues for the past year were ¥16.7 billion, roughly €90 million. Most of that from domestic sales, with some exports to other Asian markets. The company operates from 15 sales offices in nine different regions of Japan with around 400 employees.

The company statement said: “This transaction will enable Konecranes to enter Japan, one of the world's largest wire rope hoist markets, and will give it a strong position in the country's wire rope hoist, geared motor and service markets. This important step aims to strengthen our global footprint and core business through strategic acquisitions in line with our growth strategy.

Chief executive Marko Tulokas added: "I am very pleased with this planned acquisition. MFK's technologies, products and people will strengthen our global footprint and give us a more significant position in the attractive Japanese market with a world leading and widely recognised brand. MFK will benefit from joining a global leader, and is a very good strategic addition, bringing clear synergies.”