Japan's Mitsubishi Corp took a 52.2 billion yen ($342.4 million) impairment charge on its domestic offshore wind projects in the nine-month period ended in December, it said on Thursday. Mitsubishi leads consortia which won Japan's first state-run wind auctions in 2021 to run three offshore wind farm projects.

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Mitsubishi Corporation is conducting a review of its business plans for offshore wind power generation projects in Japan. The reassessment is due to an altered macroeconomic environment for the offshore wind power sector brought about by the Covid-19 pandemic and the Ukraine crisis,

Mitsubishi Corp said on Monday it was reviewing how to proceed with the development of its offshore wind projects in Japan, citing a "significantly changed" business environment, including inflation and a weaker yen.