Mitsubishi Electric Corp. said Tuesday it is planning to invest more than ¥30 billion to increase output of its factory automation system products to meet increasing demand.
The electrical machinery-maker is considering building a new plant near its existing facility in Owariasashi, Aichi Prefecture, and rebuilding an existing plant in Nagoya to bolster production capacity.
The company plans to begin constructing the plants in fiscal 2019 with the intention of starting production at the facilities by spring 2021 or 2022.
Mitsubishi Electric is also eyeing the expansion of factory automation system production in China and India to increase the overall output capacity of products by around 40 percent, together with the new manufacturing facilities in Japan.
The company views the factory automation system as one of its business pillars and aims to raise sales in the sector to ¥900 billion in the year through March 2026.