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IHI Corporation

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IHI Corporation
Native name
株式会社IHI
Company typePublic KK
TYO: 7013
IndustryHeavy equipment
Founded5 December 1853; 171 years ago (1853-12-05)
HeadquartersToyosu IHI Building, Tokyo, Japan
Key people
ProductsSpace development
Jet engines
Diesel engines
Gas engines
Industrial machinery
Bridge & steel structures
Energy systems
etc
RevenueDecrease¥1486.33 billion (2016)[1]
Increase¥47.39 billion (2016)[1]
Increase¥5.25 billion (2016)[1]
Total assetsDecrease¥1692.83 billion (2016)[1]
Total equityIncrease¥309.99 billion (2016)[1]
OwnerDKB Group
Number of employees
26,618 (2013)
ParentDai-ichi Life (3.49%)
Websiteihi.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. Following the reporting of a company whistleblower in February 2024, on April 24, 2024, the company announced that investigation was underway by the Ministry of Land, Infrastructure, Transport and Tourism of its subsidiary, IHI Power Systems Co., which had falsified its engine data since 2003, affecting over 4,000 engines worldwide.

History

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  • 1853 – establishment of Ishikawajima Shipyard by the Mito Domain under order from the Edo Shogunate, who faced the Perry Expedition and the subsequent pressure to compete with the 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.
  • 2024 – Subsequent to the February report of a company whistleblower;[6] on April 24, IHI Corp. announced that its subsidiary, IHI Power Systems Co., had been falsifying fuel consumption and efficiency data of engines used in ships and trains since 2003, affecting 4,361 engines. Investigation by the Ministry of Land, Infrastructure, Transport and Tourism ensued.[7]

Businesses

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Energy and resources

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  • Energy systems[8]
  • Process plants[9]
  • Energy storage[10]

Gas turbines

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Aircraft engines

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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.[12]

In-house development

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Joint development

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Licensed production

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Parts manufacturing

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Space products

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Ships

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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.[14]

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.[15] 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.

IHI Marine United Tokyo shipyard

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Ships built at Tokyo:

IHI Marine United Yokohama shipyard

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Ships built at Yokohama:

IHI Marine United Uraga shipyard

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Ships built at Uraga:

IHI Amtec shipyard

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Ships built at Aioi:

Steel structures

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IHI Infrastructure Systems Co., Ltd., an IHI company, designs and constructs steel frame structures, bridges, and watergates.[16]

Bridges

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References

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  1. ^ a b c d e CONSOLIDATED FINANCIAL REPORT FOR THE FISCAL YEAR ENDED MARCH 31, 2017 Archived July 2, 2021, at the Wayback Machine www.ihi.co.jp accessed 30 May 2021
  2. ^ I. H. Corporation. "Products｜IHI Corporation". IHI Corporation. Retrieved 2020-07-29.
  3. ^ Suga, Masumi (20 January 2012). "JFE, IHI to Merge Shipbuilding Units to Survive Competition". Bloomberg.
  4. ^ "IHI Agrees to Transfer IHI Construction Machinery Shares to Kato Works｜Industrial Systems and General-purpose Machinery｜2016FY｜News｜IHI Corporation". Archived from the original on 2022-01-10. Retrieved 2022-01-10.
  5. ^ IHI-to-shift-output-from-reactor-components-to-plane-parts
  6. ^ "Japan's IHI rigged data for over 4,000 engines at least since 2003". english.kyodonews.net. Kyodo News. Retrieved 29 April 2024.
  7. ^ "IHI Subsidiary Falsifies Data on Engine Performances of Ships and Trains". The Japan News. Retrieved 29 April 2024.[dead link‍]
  8. ^ "Energy Systems". IHI. Archived from the original on 2015-05-15. Retrieved 2015-04-11.
  9. ^ "Storage Plants & Process Plants & Pharmaceutical Plants". IHI. Archived from the original on 2021-10-24. Retrieved 2015-04-11.
  10. ^ "Energy Storage". IHI. Retrieved 2016-03-01.
  11. ^ gas_turbine www.ihi.co.jp
  12. ^ aircraft_engines www.ihi.co.jp
  13. ^ "GE Adds Revenue-Sharing Participants for the New GEnx Jet Engine | GE Aviation". www.geaviation.com. Retrieved 2020-07-29.
  14. ^ company/history/index www.ihi.co.jp
  15. ^ Announcement of the conclusion of Agreement regarding Capital and Business Alliance and Establishment of Joint Venture Company Archived 2021-01-17 at the Wayback Machine www.jmuc.co.jp
  16. ^ "IHI Infrastructure Systems Co., Ltd". ocaji.or.jp. Archived from the original on 19 April 2021. Retrieved 3 February 2020.
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