Konecranes is set to strengthen its presence in Asia through the acquisition of a 70% majority stake in Mitsubishi Electric FA Industrial Products (MFK), marking a significant step in its global growth strategy.
The acquisition will provide Konecranes with a strong position in Japan’s wire rope hoist, geared motor and service market, while establishing a larger presence in one of the world’s biggest wire rope hoist markets. Financial details of the transaction have not been disclosed.
Founded in 1944, MFK is a leading supplier of wire rope hoists in Japan, supported by an extensive nationwide distributor network. The company generates annual sales of approximately €90 million and employs around 400 people across 15 sales offices, with its headquarters in Fukuoka. While most of its business is generated in Japan, MFK also serves customers across other Asian markets.
The acquisition complements Konecranes’ existing portfolio by adding hoist equipment, spare parts, maintenance services and geared motors, while creating opportunities for operational synergies and further business development throughout the region.
“I am very pleased with this planned acquisition. MFK’s technologies, products and personnel strengthen our global footprint and give us a more significant presence in the attractive Japanese market under a world-leading and well-known brand,” said Marko Tulokas, President and CEO of Konecranes. “MFK will benefit from being part of a global leader, and for Konecranes MFK is a very good strategic fit and brings clear synergies. This important acquisition continues Konecranes’ long-term growth focus where acquisitions play a significant role.”
The transaction is expected to be completed in early 2027, subject to regulatory approvals and customary closing conditions.
