IHI Corporation


Native name	株式会社IHI
Company type	Public KK
Traded as	TYO: 7013
Industry	Heavy equipment
Founded	5 December 1853; 170 years ago (1853-12-05)
Headquarters	Toyosu IHI Building, Tokyo, Japan
Key people	Tsugio Mitsuoka [jp] (chairman) Hiroshi Ide [jp] (president and CEO)
Products	Space development Jet engines Diesel engines Gas engines Industrial machinery Bridge & steel structures Energy systems etc
Revenue	¥1486.33 billion (2016)^[1]
Operating income	¥47.39 billion (2016)^[1]
Net income	¥5.25 billion (2016)^[1]
Total assets	¥1692.83 billion (2016)^[1]
Total equity	¥309.99 billion (2016)^[1]
Owner	DKB Group
Number of employees	26,618 (2013)
Parent	Dai-ichi Life (3.49%)
Website	ihi.co.jp

IHI Corporation (株式会社IHI, Kabushiki-gaisha IHI), formerly known as Ishikawajima-Harima Heavy Industries Co., Ltd. (石川島播磨重工業株式会社, Ishikawajima Harima Jūkōgyō Kabushiki-gaisha) is a Japanese engineering corporation headquartered in Tokyo, Japan that produces and offers ships, space launch vehicles, aircraft engines, marine diesel engines, gas turbines, gas engines, railway systems, turbochargers for automobiles, plant engineering, industrial machinery, power station boilers and other facilities, suspension bridges and other structures.^[2]

IHI is listed on the Tokyo Stock Exchange Section 1.

History

1853 – establishment of Ishikawajima Shipyard by Mito Domain under the order from Edo Shogunate, who faced Perry Expedition and the subsequent pressure to compete with Great Powers, in Ishikawajima, Chuo district of Tokyo.
1854 - 1856: construction of the Japanese warship Asahi Maru at Ishikawajima shipyard.
1889 – incorporation of Ishikawajima Shipyard as Ishikawajima Shipbuilding & Engineering Co., Ltd.
1907 – establishment of Harima Dock Co., Ltd.
1929 – spinoff of Harima's automobile section as Ishikawajima Automotive Works (later Isuzu through a series of mergers)
1960 – establishment of Ishikawajima-Harima Heavy Industries Co., Ltd. through a merger of Ishikawajima and Harima
1995 – IHI and Sumitomo Heavy Industries merged a warship business and established Marine United Ltd. The Uraga Dock Company was the origin in the shipbuilding of Sumitomo Heavy Industries. It was made by Enomoto Takeaki. However, Sumitomo Heavy Industries moved Uraga Dock to Yokosuka in 2003. IHI moved a shipbuilding section to Marine United in 2002 and changed its name to IHI Marine United Ltd. IHI Marine United became the subsidiary of IHI in 2006.
2000 – purchased Nissan Motor’s Aerospace and Defense Divisions and established IHI Aerospace Co., Ltd.
2007 – name changed to IHI Corporation.
2008 – Hauzer Techno Coating joins IHI Corporation as PVD coating machine manufacturer
2012 – IHI Corporation acquires Ionbond, provider of innovative coating services
2013 – established Japan Marine United Corporation, merging its ship building unit, Marine United Inc., with Universal Shipbuilding Corp. of JFE Holdings after discussion started in April 2008^[3]
2016 – sold all shares of wholly owned IHI Construction Machinery Limited to Kato Works Company Limited.^[4]
2018 – IHI halts manufacturing nuclear reactor parts to focus on aircraft parts,^[5] leaving Japan Steel Works as the sole Japanese supplier of reactor parts.

Businesses

Energy and resources

Energy systems^[6]
Process plants^[7]
Energy storage^[8]

Gas turbines

LM2500^[9]
LM6000

Aircraft engines

IHI develops, manufactures, and maintains aero engines, either by joint projects of which partners include GE Aviation, Pratt & Whitney, and Rolls-Royce Holdings, or the company itself.^[10]

In-house development

Joint development

Licensed production

Parts manufacturing

Rolls-Royce Trent

Space products

S-type Sounding Rocket (S-210, S-310, S-520, SS-520)
M-V Launch Vehicle
GX Launch Vehicle (Partner in Galaxy Express Corporation)
Epsilon Launch Vehicle
SRB-A solid rocket booster for H-IIA/H-IIB Launch Vehicle
BT-4 liquid-fuelled apogee motor (used in the Cygnus vehicle which are launched on Atlas V and Antares rockets)

Ships

Shipbuilding was the founding activity of Ishikawajima in 1853. It remains part of IHI's business activities, although it has been diluted through several mergers with other Japanese shipbuilding companies.^[12]

In 1960, Ishikawajima Heavy Industries merged with Harima Shipbuilding & Engineering Company to establish the Ishikawajima-Harima Heavy Industries (IHI). In 1995, Marine United was established jointly with Sumitomo Heavy Industries. In 2013, IHI Marine United was merged with Universal Shipbuilding Corporation owned by the steel company JFE Holdings in order to newly establish a larger firm, Japan Marine United Corporation (JMU), of which IHI remained a shareholder.

In March 2020, Japan Marine United (with 49% of shares) agreed to merge with Imabari Shipbuilding (with 51% of shares) into a joint venture named Nihon Shipyard (NSY), covering all ship types except Liquefied natural gas (LNG) tankers.^[13] This agreement became effective in January 2021. In parallel with the creation of Nihon Shipyard, Imabari Shipbuilding bought 30% of JMU's shares, while IHI and JFE Holdings each kept 35% of JMU's capital. The merger between these two Japanese companies resulted in Nihon Shipyard becoming one of the largest marine-engineering and shipbuilding companies in the world, of which IHI remains a shareholder.