Key Facts
• August 27, 2025: Mitsubishi Corporation announced cancellation of three offshore wind farms.
• Locations: Noshiro, Mitane, and Oga (Akita Prefecture); Yurihonjo (Akita Prefecture); Choshi (Chiba Prefecture).
• Projects were initiated in December 2021 by Mitsubishi Offshore Wind Power, a subsidiary.
• Reasons: Supply chain disruptions, inflation, and rising interest rates post-COVID-19 and Ukraine crisis.
• Losses: Majority already accounted for in past financial statements; additional losses expected to be minimal.
Summary
Mitsubishi Corporation has decided to cancel the construction of three offshore wind farms in Japan, citing significant changes in the business environment since the projects were initiated in 2021. The affected sites include Noshiro, Mitane, and Oga, as well as Yurihonjo in Akita Prefecture, and Choshi in Chiba Prefecture. Challenges such as supply chain disruptions, inflation, and rising interest rates, exacerbated by the COVID-19 pandemic and the Ukraine crisis, led to the conclusion that viable business plans were no longer feasible. Most financial losses have already been recorded, with any additional losses expected to be limited.
