Thedivision posted an operating loss of JPY 5.5bn ($54m) versus an operatingprofit of JPY 11.5bn for FY2012.

MHIsaid shipbuilding net sales declined 42% year-on-year to JPY 183.8bn, whileorders received fell 118.5% to JPY 136.9bn.

InFY2013 the shipbuilder won orders for only eight ships with four of thosecoming in the fourth quarter.

The previous year saw the company bag 29newbuilding orders with 24 of them coming in the fourth quarter.

Mitsubishi