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|Headquarters||Seogyeong, East Asian Federation|
|Area served||East Asian Federation|
Mitsubishi Heavy Industries (66%)|
Mitsubishi Electric (33%)
HiTech's work focuses on the development of advanced technologies for the government and private companies. It is the result of a government initiative designed to keep East Asia competitive with other developed nations through an increased focus on science, research, and technology.
In 2010, the Mitsubishi Group, at the request of the East Asian State Development Office, conducted a study into the feasibility of spinning off its research and development arms into a single company for greater efficiency. This would be the first product of the so-called "Future Technology Initiative" promoted by the federal government. The study was completed in July 2011, and after a two-month examination period, was put to a shareholder vote. The majority of shareholders approved the action to split off the R&D sections of the major group companies, beginning with Mitsubishi Heavy Industries and Mitsubishi Electric, to take place in July 2012.
The split formally occurred on July 2, 2012, with Kazuo Shimoda of Heavy being appointed as CEO of the new corporation.
Mitsubishi HiTech's projects in development, mostly inherited from Heavy and Electric, include aerospace and defense works. Notably, a designated priority project for HiTech is to develop a more efficient means of propulsion in space, either traditional liquid- or solid-fueled rockets or nontraditional propulsion sources such as ion thrusters.