Heir to US$2b Japanese knitting empire moving into car parts

Tokyo

BUILDING a machine to construct high-end Prada sweaters was just the start.

Now Mitsuhiro Shima, who took over his dad's knitting-machine firm three months ago, is setting his sights on - of all places - the car industry. The 56-year-old president of Shima Seiki Manufacturing Ltd is in talks with car parts makers to use its technology to develop lighter, non-steel components, and plans to sign a deal next fiscal year.