Mitsubishi Heavy Indus
MHVYF
Industrials
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exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Mitsubishi Heavy Industries is a major Japanese defense contractor specializing in the development and production of weapons platforms and military equipment. Its defense portfolio includes missiles, submarines, fighter jets, and naval vessels. The company has been identified as Japan's top weapons maker and is a primary contractor for the country's military.
The company is a co-developer of major defense systems, such as the FSX fighter jet project with General Dynamics and the next-generation F-X fighter program with Lockheed Martin. In 2011, the company confirmed it was the target of a cyber attack that reportedly sought data on missiles, submarines, and nuclear power plants, highlighting the sensitive military nature of its operations. More recently, civil society groups have urged the company to withdraw from the production of missiles with enemy base strike capabilities.
Mitsubishi Heavy Industries' core business involves purpose-built weapons systems and direct collaboration with defense ministries, placing it squarely within the war-industrial complex rather than as an incidental supplier of dual-use goods.
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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