By Koichi Kuranuki / Yomiuri Shimbun Senior Writer

Japanese heavy industry manufacturer IHI Corp. on Thursday announced that it will move up its target date for achieving a revenue of 1 trillion yen in its aeroengine, space and defense sectors to the early 2030s.

The company had previously planned to achieve the goal by fiscal 2040. It also set a target of raising its operating profit margin to 15-20% in the early 2030s.

The targets were revealed at a press conference to announce the company's interim financial results for fiscal 2025, which runs until March 2026.

Specifically, IHI plans to generate revenue of 600 billion yen in its civil aeroengine sector in the 2030s, up 50% from fiscal 2025. To achieve the goal, the Japanese company will build a new repair facility for commercial aircraft engines at its Tsurugashima plant in Saitama Prefecture. IHI is also set to enhance human resource development.

Regarding its nuclear power business, demand for products such as reactor containment vessels for small modular reactors of U.S.-based NuScale Power LLC is expected to boost revenue. "We want to meet the growing demand for nuclear power overseas," said Hiroshi Ide, president and CEO of IHI.

IHI expects that about 10 nuclear power plants will resume their operations in Japan in the near future. Currently, Japan Nuclear Fuel Ltd. is constructing a nuclear fuel reprocessing plant in the village of Rokkasho, Aomori Prefecture, with an aim to finish the construction by the end of fiscal 2026. The safety enhancement work for the plant is expected to increase IHI's revenue as well.

Ide also referred to IHI's next management plan, which is set to be completed in May 2026.

"We had been formulating (management plans) in three-year spans, but things such as technological development needs to be planned over a longer timeframe," Ide said. "We will set out the directions of our technical development and investment and set financial targets over a five-year timeframe, so that we can show our future course of action."

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

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November 10, 2025 01:41 ET (06:41 GMT)

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