Two of Japan's biggest shipbuilders - Imabari Shipbuilding and Japan Marine United (JMU) - have agreed to enter an alliance, the companies announced on 29 November.
The move represents the latest in a series of large-scale restructuring efforts in shipbuilding in Northeast Asia.
In a joint statement, Imabari and JMU said that their proposed "capital and business alliance" is aimed at "strengthening the international competitiveness of both companies" in the global shipbuilding sector. The companies said they aim to finalise the transaction before the end of March 2020.
Under the agreement, Imabari will acquire nearly a 30% stake in JMU through the issuance of new shares.
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