Mitsubishi Heavy Industries Ltd, Asia's largest aerospace company, is in talks to win its first commercial orders for satellite launches using its H-2A rocket, a Japanese newspaper reported yesterday.
The company's shares rose to the highest in almost three months.
Mitsubishi Heavy expects to receive orders from unidentified telecommunication companies in the United States and South Korea as early as next month, the Nikkei newspaper reported yesterday, without saying where it obtained the information.
"We're in the middle of negotiations, and cannot provide details until the announcement," said Hideo Ikuno, a manager for Daiya PR, which handles the Tokyo-based company's media communication.
Mitsubishi Heavy, which took over space-launch services from the government on April 1, plans to launch commercial satellites by March 2009.
The government-run Japan Aerospace Exploration Agency, or JAXA, is in charge of checking the safety and the status of the nation's space program.
Mitsubishi Heavy sent the 14th H-2A rocket carrying a high- speed Internet communication satellite into orbit on Feb 23.
Mitsubishi Heavy shares increased by 4.8 percent to reach 506 yen at 10 am yesterday on the Tokyo Stock Exchange, their highest level since Dec 12.
The shares fell 30 percent in the past 12 months, compared with a 25 percent drop in the benchmark Nikkei 225 Stock Average.
Source:China Daily/Agencies
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