Mitsubishi Corp on Monday said it is reviewing how to proceed with its offshore wind projects in Japan given a "significantly changed" business environment, showing that the country is not immune to rising costs across offshore wind projects globally.

Projects have been affected by inflation, depreciation of the yen, tight supply chains and high interest rates

Mitsubishi Corp. is reviewing business plans for three Japanese offshore wind power projects following macroeconomic changes, including the depreciation of the yen, rising interest rates and tight supply chains.

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.