Mitsubishi Heavy Industries has announced that it is actively seeking take-over opportunities following its failed bid for Alstom’s power business.

The company says that it is looking to boost its revenues to five trillion yen ($49 billion) by 2017. Last month, it published a sales forecast of 4 trillion yen for the year ending 31 March, which would represent a 19% rise.

CEO Shunichi Miyanaga said he wished to expand Mitsubishi’s energy and transport units in the Americas and in South East Asia. “We intend to continue with mergers and acquisitions. This isn’t always a good policy but, considering our businesses and the needs of globalisation, there are several areas that would be best suited to M&A.”

Mr Miyanaga also said that he wants his company to expand its collaboration with France’s Areva in the manufacture of nuclear power equipment. In addition, he said that he expects additional work from Boeing as it produces more Dreamliner 787s and the new 777 series.