Mitsubishi Heavy Industries Ltd. to cut costs as it faces severe competition

Mitsubishi Heavy Industries Ltd. is considering selling one of Japan's largest shipbuilding plants to cut costs as it faces severe competition from rivals from China and South Korea, informed sources said Thursday.

The corporation considers the sale of Nagasaki's Koyagi plant to Oshima Shipbuilding Co., the country's third-largest shipbuilder, the sources said.

The move could accelerate the realignment of the Ja....