Australia and Japan seal $6.5B warship deal with 3 Mogami frigates ordered first [Yahoo! Finance Canada]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance Canada
billion) fleet of Japanese-designed warships, with the first due for delivery in three years. Mitsubishi Heavy Industries will build the first three Mogami-class frigates in Japan. Australia plans to build another eight in a shipyard in Western Australia state. Japanese Defense Minister Shinjiro Koizumi and his Australian counterpart attended a signing ceremony aboard the Mogami-class frigate JS Kumano, which is part of the Japan Maritime Self-Defense Force, docked off the Australian city of Melbourne. The Kumano had taken part in the recent Exercise Kakadu, biennial multinational maritime drills hosted by Australia. in August last year that the Japanese bid had won the contract to provide Australia's next generation of general purpose frigates over Germany's MEKO A-200 from Thyssenkrupp Marine Systems. The deal gave a major boost to Japan's still-underdeveloped defense industry after it lost out on Australia's submarine contract to a French company in 2016. The Japanese-des
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