Mitsubishi Heavy Industries (MHI) has signed an agreement to reduce the wing production costs for Boeing’s 787 Dreamliner that are currently being manufactured at MHI’s factory in Nagoya, Japan.

Under the deal, both companies also intend to perform joint studies of advanced aerostructure technologies for use in future-generation commercial aircraft.

The latest agreement also seeks to form new sales collaboration by increasing efficiency in MHI’s production system and supply chain through improved production methods, automation and other activities.

“This agreement advances the strong relationship between Boeing and MHI through joint efforts to reduce costs and improve efficiency.”

Boeing Commercial Airplanes president and CEO Kevin McAllister said: “This agreement advances the strong relationship between Boeing and MHI through joint efforts to reduce costs and improve efficiency, with a focus on MHI’s production for the 787 Dreamliner.

“Collaboration with suppliers is at the heart of our Partnering for Success efforts, positioning our companies to win in today’s competitive marketplace and look ahead to future opportunities.”

In addition to producing composite wings for Boeing 787 Dreamliner aircraft, MHI manufactures fuselage sections for Boeing’s 767, 777 and 777X aircraft programmes.

Boeing currently receives various components for its commercial and defence product lines from 150 Japanese companies.

The company also procures roughly $5bn worth of goods and services from Japan every year and supports various highly skilled aerospace jobs in the US and Japan.