As of October 1, 2021, Hitz (Hitachi Zosen Corporation) and Kawasaki Heavy Industries merge their Tunnel Boring Machine businesses under a new company: Underground Infrastructure Technologies Corporation, abbreviation: UGITEC.

Kawasaki Heavy Industries press release writes:

Joint Venture Company for Tunnel Boring Machine “Underground
Infrastructure Technologies Corporation” Begins Operation
 
Kawasaki Heavy Industries, Ltd.（headquartered in Minato-ku, Tokyo; President & CEO: Yasuhiko
Hashimoto; hereinafter “Kawasaki”）and Hitachi Zosen Corporation（headquartered in Osaka-city,
Osaka; President & COO: Sadao Mino; hereinafter “Hitachi Zosen”）have been preparing for the
establishment of a joint venture company in the Tunnel Boring Machine (TBM) business, the
Underground Infrastructure Technologies Corporation (headquartered in Osaka-city, Osaka;
Representative Director and President: Masaharu Hirayama; hereinafter “UGITEC”) was officially
launched and began operation today.
 
A TBM is a construction machine necessary to create underground spaces for infrastructure such as
subways and underground tunnels, as well as lifelines such as electric wires, water pipes, and gas
pipes. The name, UGITEC, contains the meaning of "To be a company that contributes to development
of humankind (connecting time and space, and ensuring safety and security) by creating new spaces,
not just drilling holes under the ground".
 
UGITEC will conduct sales and engineering operations for TBMs by utilizing and strengthening the
advantages of both companies’ sales and technological capabilities, as well as their wide variety of
product lineups and supply chains.
 
Kawasaki has been developing the TBM business in Japan and overseas since 1957, and Hitachi Zosen
since 1967. In recent years, both companies have mainly delivered TBMs for tunnel construction of
domestic railways, subways, roads, sewers, etc. Besides, while the growth of the domestic market is
expected to be limited in the medium to long-term business environment, there are opportunities to
enter overseas markets such as Europe, North America, South America, and the Middle East.
Furthermore, continued demand is expected in India and Southeast Asia particularly for subway
construction.
 
By leveraging the synergies in the sales and technical fields created by the integration, UGITEC will
expand its business in Japan and overseas, and aim to be a company that can contribute to the
development of social infrastructure through TBM business.

https://global.kawasaki.com/news_211001-3e.pdf

UGITEC Internet site says "In the future, we will combine the technologies of both companies to provide better products and further enhance our services to our customers. We look forward to your continued support and guidance.".

https://ugitec.co.jp/en/news/20211001/

Hitz (Hitachi Zosen Corporation) Internet site writes: