In 1884, Yataro Iwasaki, the founder of Mitsubishi, leased the "Nagasaki Seitetsusho" from the Japanese government, renamed it the "Nagasaki Shipyard & Machinery Works" and entered the shipbuilding business on a large scale. Iwasaki purchased the shipyards outright in 1887. In 1891, Mitsubishi Heavy Industries - Yokohama Machinery Works was started as "Yokohama Dock Company, Ltd". Its main business was ship repairs, to which it added ship servicing by 1897. The works was renamed "Mitsubishi Shipyard of Mitsubishi Goshi Kaisha" in 1893 and additional dry docks were completed in 1896 and 1905.