By Daisuke Narahashi and Rina Ukita / Yomiuri Shimbun Staff Writers

Japanese heavy industrial company IHI Corp. aims to double the sales of its nuclear business to about 100 billion yen by the end of the 2030s, IHI President and CEO Hiroshi Ide said during a recent interview with The Yomiuri Shimbun.

The company is set to incorporate the target in its next medium-term business plan that begins from the fiscal year ending March 2027. Amid a global trend of utilizing nuclear power, it aims to take advantage of the demand for the energy.

IHI manufactures pressure vessels and containment vessels for nuclear reactors. Nuclear power plants are now gaining attention for their ability to stably generate electricity without emitting greenhouse gases. In Japan, efforts to restart plants are accelerating, while overseas, an increasing number of new construction projects are underway. In the United States, major tech companies have begun utilizing nuclear power for procuring electricity for artificial intelligence services.

Ide stated that the nuclear power business has high growth potential in the future. "We will transfer personnel (to the nuclear business) and invest aggressively," the president said.

He revealed the company's plan of expanding the nuclear business by taking part in domestic projects to restart nuclear power plants, as well as new construction projects overseas, including one in Romania.

Regarding its aircraft engine business, which is one of the core sectors of IHI, Ide revealed his intention to put more focus on maintenance and repair works. Currently, the company carries out maintenance on about 70 engines a year. IHI aims to increase the figure to around 400 by the early 2030s.

Maintenance and repair services have an advantage of generating stable revenue after the products are sold. IHI manufactures aircraft engines and other products for Europe-based Airbus SE.

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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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June 05, 2025 03:39 ET (07:39 GMT)

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