Mitsubishi Heavy Industries is Japan’s largest aerospace manufacturer and a premier collaborator with Boeing, Bombardier, Lockheed Martin and others on fighters, business, regional and commercial jets. But it hasn’t built a commercial airplane of its own for more than three decades and its last attempt, a turboprop, was an economic disaster. Now the company is poised to put itself—and Japan—back in the business of designing and building commercial aircraft. The board of directors has ...

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