IHI Corporation

IHI Corporation

IHI Corporation was founded in 1853 as a shipyard in Tokyo, evolving into one of Japan's premier heavy-industrial manufacturers. Hiroshi Ide became President and CEO in 2023, succeeding Jun Kobayashi. The company's wealth originates from over a century of industrial contracts across shipbuilding, aerospace, infrastructure, and energy. The firm's strategy focuses on three core segments: aerospace engines, energy infrastructure, and industrial machinery. IHI is a key supplier to Boeing's 787 Dreamliner program (engine components) and manufactures nuclear reactor containment vessels for Japanese utilities. The company also builds gas turbines and heat exchangers for power plants, and constructs bridges and steel structures in Southeast Asia. Geographically, revenue is split roughly 60% domestic (Japan) and 40% international (Asia, North America, Europe). IHI employs over 28,000 people and operates nine major offices globally, including in New York, London, Singapore, and Dubai. In 2024, the company announced a ¥100 billion investment to expand its aerospace engine maintenance facility — a dated event reflecting its active posture in the aviation aftermarket. It maintains a defined-benefit pension fund and a corporate venture capital arm focused on energy transition (per the firm, 2024). A structural differentiator is IHI's position as both a primary contractor for Japan's Ministry of Defense (naval engines) and a partner in Western aerospace supply chains. This dual exposure gives it privileged access to defense and civilian markets across the Pacific, a rare blend that most industrial firms lack.