With its long history of aircraft production, Mitsubishi Heavy Industries (MHI) was at the forefront of the rebirth of the Japanese aviation industry in the post-Occupation period. It was at the heart of a consortium that began development of the YS-11 twin-turboprop airliner in the mid-1950s. In 1956, work started on the MU-2 high-wing, small-cabin twin that went on to become quite a success, with over 700 having been built by the time production ended in 1987.
Success with the MU-2—especially in the U.S., where Mooney Aircraft sold and supported the type from 1963, and assembled it at San Angelo, Texas, from 1965—encouraged Mitsubishi to explore the general aviation/executive market further. In 1977, a business jet program was born, which crystallized as the MU-300 Diamond.