Konecranes to acquire majority stake in Mitsubishi Electric FA Industrial Products

Konecranes has signed an agreement to acquire a 70% stake in Mitsubishi Electric FA Industrial Products (MFK), strengthening its presence in Japan and expanding its position in the global material handling market.

The financial terms of the transaction were not disclosed.

The acquisition will give Konecranes a strong position in Japan’s wire rope hoist, geared motor and service market. It also marks the company’s entry into one of the world’s largest wire rope hoist markets.

Founded in 1944, MFK is a leading supplier of wire rope hoists in Japan. The company has built an extensive distributor network and offers hoist equipment, spare parts, maintenance services and geared motors.

MFK generates annual sales of around €90 million. Most of its revenue comes from Japan, with additional business across other Asian markets.

The company operates 15 sales offices across Japan and employs around 400 people. Its headquarters are located in Fukuoka.

Konecranes said MFK’s products complement its existing portfolio and will create opportunities for commercial and operational synergies. The acquisition will also significantly strengthen Konecranes’ local presence in Japan.

Marko Tulokas, President and CEO of Konecranes, said the acquisition represents an important strategic step for the company. He added that MFK’s technology, products and workforce will strengthen Konecranes’ global footprint while supporting its long-term growth strategy.

The transaction is expected to close in early 2027, subject to regulatory approvals and customary closing conditions.

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