Kawasaki Heavy Industries Stock price
📊 Peer Group
📈 What is it?
The peer group consists of the companies with the most similar business model. They serve as a benchmark for putting a stock into context.
🧮 How is it selected?
Based on similarity of business model, meaning companies from the same industry with comparable products and a similar customer base. That's the only way to compare apples to apples.
🏛️ Why does it matter?
Whether a stock is cheap or expensive is best judged by comparison. A P/E of 18 or an EV/FCF of 20 can look cheap or expensive depending on the yardstick. The peer group gives you the most accurate one: companies with a similar business model that operate under the same conditions.
🎯 What does it mean for investors?
When a metric sits below the peer average, the stock is valued more cheaply relative to its competitors, and above the average more expensively. A discount to the peer group can be an opportunity, but it can also have a reason (for example lower growth). The comparison is a starting point, not a verdict.
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Invest better with AI
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👉 More detailed insights
👉 Exclusive perspectives on opportunities & risks
👉 Clear answers to your questions
Invest better with AI
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👉 More detailed insights
👉 Exclusive perspectives on opportunities & risks
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Key metrics
📘 Market Capitalization
📈 What is it?
Market capitalization shows how much a company is currently worth on the stock market.
🧮 How is it calculated?
🏛️ Why is it important?
It helps classify companies by size (Large, Mid, Small Cap) and indicates their market presence and relative stability.
🎯 What does this mean for investors?
- Large-cap companies tend to be more stable, often pay dividends, but may grow more slowly.
- Smaller firms may offer higher growth potential but come with more volatility.
- Market capitalization is a useful indicator of company size — but not a measure of whether a stock is undervalued or overvalued.
📘 Enterprise Value (EV)
📈 What is it?
Enterprise Value represents the total cost to acquire a company — including its debt and excluding its cash reserves.
🧮 How is it calculated?
(= Market Cap + Net Debt)
🏛️ Why is it important?
EV gives a more complete picture of a company's value than market cap alone and is used in key valuation ratios like EV/FCF or EV/Sales.
🎯 What does this mean for investors?
- Enterprise Value shows the true cost of buying a company, including all financial obligations.
- It is more accurate than just looking at market cap, especially when comparing companies with different levels of debt or cash.
- Professional investors prefer EV-based multiples because they better reflect the company’s full financial footprint.
📘 Net Debt
📈 What is it?
Net Debt shows how much debt remains after subtracting a company’s available cash reserves.
🧮 How is it calculated?
🏛️ Why is it important?
It indicates how dependent a company is on borrowed money and how easily it can service its debt in the short term.
🎯 What does this mean for investors?
- Low or negative net debt signals financial strength and flexibility.
- Companies with strong cash positions are better positioned in crises.
- High net debt increases financial risk — especially in environments with rising interest rates or economic downturns.
📘 Cash
📈 What is it?
Cash represents all liquid assets a company can access immediately — including cash, bank deposits, and short-term investments.
🧮 How is it calculated?
🏛️ Why is it important?
It reflects a company’s financial flexibility and resilience — enabling investments, buybacks, or buffer in downturns.
🧮 Calculation
🎯 What does this mean for investors?
- A strong cash position means greater room for maneuver and crisis resistance.
- Cash-rich companies can invest, pay down debt, or repurchase shares.
- But excess idle cash might indicate a lack of growth opportunities.
📘 Shares Outstanding
📈 What is it?
Shares outstanding represent the total number of a company’s shares currently held by investors — excluding treasury stock.
🧮 How is it calculated?
🏛️ Why is it important?
It’s the basis for key metrics like Earnings Per Share (EPS), Market Capitalization, or the Price/Earnings ratio (P/E).
🧮 Calculation
🎯 What does this mean for investors?
- Fewer shares in circulation typically increase earnings per share — making each share more valuable.
- Share buybacks reduce the number of shares and boost per-share metrics.
- Issuing new shares does the opposite — diluting shareholder value and lowering per-share figures.
📘 Price-to-Earnings Ratio (P/E)
📈 What is it?
The P/E ratio shows how many times a company's earnings per share are reflected in its current share price — in other words, how "expensive" the stock appears relative to its profits.
🧮 How is it calculated?
🏛️ Why is it important?
The P/E ratio is one of the most widely used valuation metrics. It helps investors assess whether a stock appears cheap or expensive compared to its earnings power.
🧮 Calculation
📊 P/E (TTM) = Based on earnings from the last 12 months (Trailing Twelve Months):🎯 What does this mean for investors?
- A low P/E may indicate undervaluation — or signal underlying issues.
- A high P/E may reflect strong growth expectations — or an overvalued stock.
📘 Price-to-Sales Ratio (P/S)
📈 What is it?
The P/S ratio shows how much investors are paying for $1 of the company’s revenue – regardless of profitability.
🧮 How is it calculated?
🏛️ Why is it important?
P/S is especially useful for evaluating growth companies or businesses not yet profitable. It reflects how the market values the company’s sales.
🧮 Calculation
Market Cap = ¥2.07t | Revenue (TTM) = ¥2.37t
Market Cap = ¥2.07t | Estimated Revenue = ¥2.59t
🎯 What does this mean for investors?
- A low P/S may indicate undervaluation — or low profitability.
- A high P/S can reflect strong growth expectations — or excessive optimism.
- Especially helpful when evaluating companies where profits are low, volatile, or negative.
📘 Enterprise Value to Sales (EV/Sales)
📈 What is it?
EV/Sales shows how much investors are paying for $1 of revenue — considering not just equity, but also debt and cash. It’s the capital structure–adjusted version of the P/S ratio.
🧮 How is it calculated?
🏛️ Why is it important?
It’s ideal for comparing companies with different levels of debt. It reflects a company's true cost relative to its revenue.
🧮 Calculation
Enterprise Value = ¥2.78t | Revenue (TTM) = ¥2.37t
Enterprise Value = ¥2.78t | Forward Revenue = ¥2.59t
🎯 What does this mean for investors?
- EV/Sales allows for capital structure–neutral company comparisons.
- A lower ratio may indicate undervaluation; a higher one may signal strong growth expectations or overvaluation.
- Especially helpful when evaluating high-growth companies with low or negative earnings.
📘 Enterprise Value to Free Cash Flow (EV/FCF)
📈 What is it?
EV/FCF shows how many years it would take for a company to "pay back" its enterprise value using its free cash flow.
🧮 How is it calculated?
🏛️ Why is it important?
It focuses on real cash generation, ignoring accounting noise — ideal for assessing profitability and value based on liquidity, not earnings.
🧮 Calculation
🎯 What does this mean for investors?
- A low EV/FCF may signal undervaluation and strong cash generation.
- A high EV/FCF might reflect weak recent cash flow or aggressive growth expectations.
- Best suited for stable, mature businesses with predictable free cash flows.
📘 Price-to-Book Ratio (P/B)
📈 What is it?
The P/B ratio compares a company’s market value to its book value — showing how much investors are paying for each dollar of net assets.
🧮 How is it calculated?
🏛️ Why is it important?
P/B is commonly used for asset-heavy industries like banks or industrials. It helps assess whether a stock is trading above or below its net asset value.
🎯 What does this mean for investors?
- A P/B below 1 may signal undervaluation — or weak profitability.
- A P/B above 1 implies the market expects future value creation (e.g., brand, IP, growth).
- Best used for companies with tangible assets and strong balance sheets.
📘 Dividend per Share (DPS)
📈 What is it?
Dividend per Share shows how much cash a company pays out to shareholders for each share they own – usually on an annual or quarterly basis.
🧮 How is it calculated?
🏛️ Why is it important?
DPS is the absolute value of the payout per share – crucial for income-focused investors and dividend strategies.
🎯 What does this mean for investors?
- A stable or growing DPS often signals a strong, shareholder-friendly business.
- DPS alone doesn’t tell you how attractive the payout is – the stock price also matters (→ see Dividend Yield).
- Long-term dividend growth is often a hallmark of high-quality companies – like the dividend aristocrats.
📘 Dividend Yield
📈 What is it?
Dividend yield shows how large a company’s dividend is in relation to its current share price.
🧮 How is it calculated?
🏛️ Why is it important?
It allows investors to compare dividend payouts across stocks, regardless of price or payout size.
🧮 Calculation
🎯 What does this mean for investors?
- A stable yield can reflect reliable distributions.
- Comparing 1Y and 5Y yield shows whether dividend growth keeps pace with stock price appreciation.
- A low yield isn’t always negative – it can signal strong past performance or growth focus.
📘 Dividend Growth
📈 What is it?
Dividend growth shows how much a company has increased its dividend per share over time.
🧮 How is it calculated?
5Y: Compound Annual Growth Rate (CAGR)
🏛️ Why is it important?
Consistently rising dividends are often a sign of financial strength and shareholder orientation – especially relevant for long-term investors.
🧮 Calculation
🎯 What does this mean for investors?
- Stable dividend growth is a sign of sustainable earning power.
- High dividend growth can significantly boost your total return:
- If a company pays $1 in dividends and increases it by 15% annually over 5 years, you’ll receive $2 per share in year 5 – twice as much as at the start!
📘 Payout Ratio
📈 What is it?
The payout ratio shows what percentage of a company’s earnings (per share) is distributed to shareholders as dividends.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess whether the dividend is sustainable – especially in relation to the company’s profitability.
🧮 Calculation
🎯 What does this mean for investors?
- A low payout ratio means the company retains more earnings for reinvestment – typical for growth companies.
- A moderate payout (e.g. 25–50%) indicates a healthy balance between returns and reinvestment.
- High payout ratios may seem attractive but can carry risk if earnings decline.
📘 Consecutive Dividend Increases
📈 What is it?
This metric shows how many consecutive years a company has raised its dividend per share – without any cuts or pauses.
🧮 How is it calculated?
(Special dividends are not considered.)
🏛️ Why is it important?
A long track record of increases reflects financial strength, consistency, and shareholder commitment.
🎯 What does this mean for investors?
- A long dividend increase streak builds confidence – especially in volatile markets.
- Such companies are seen as reliable and income-friendly investments.
- The longer the streak, the stronger the company’s dividend discipline.
📘 Revenue
📈 What is it?
Revenue shows how much a company earns in total from selling its products and services – the gross income before any costs are deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Revenue is one of the key figures to assess a company’s size, market position, and growth potential.
🧮 Calculation
🎯 What does this mean for investors?
- Growing revenue indicates rising demand and can be an early signal of future earnings growth.
- Comparing actual and expected revenue reveals trends in the market environment and analyst sentiment.
- Note: Strong revenue alone isn’t enough – margins and profitability matter just as much.
📘 EBITDA
📈 What is it?
EBITDA stands for “Earnings Before Interest, Taxes, Depreciation, and Amortization.” It reflects a company’s operating profit before the effects of financing, taxes, and accounting depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
EBITDA is widely used to evaluate a company’s operating performance – especially across capital-intensive sectors or international comparisons.
🧮 Calculation
🎯 What does this mean for investors?
- A high or growing EBITDA indicates strong operational profitability – independent of taxes, interest, or accounting methods.
- It’s especially useful for comparing companies across sectors or geographies.
- Important: EBITDA is not a net income figure – it excludes key costs like depreciation and interest.
📘 EBIT
📈 What is it?
EBIT stands for “Earnings Before Interest and Taxes.” It reflects a company’s operating profit after depreciation, but before interest and tax expenses.
🧮 How is it calculated?
🏛️ Why is it important?
EBIT is a core profitability metric that shows how well the company performs in its main business operations – independent of capital structure and tax environment.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT indicates strong profitability from the company’s core business – before financial and tax effects.
- It allows better comparison between companies with different debt levels or tax structures.
- Compared to EBITDA, EBIT already accounts for depreciation and reflects capital intensity more clearly.
📘 Net Income
📈 What is it?
Net income is the company’s total profit – the amount left after all expenses, taxes, interest, and depreciation have been deducted.
🧮 How is it calculated?
🏛️ Why is it important?
Net income is the most comprehensive measure of a company’s profitability – showing how much actual profit remains after all business and financing costs.
🧮 Calculation
🎯 What does this mean for investors?
- Growing net income indicates that the company is managing all of its costs efficiently.
- It directly influences valuation metrics like P/E ratio and the company’s dividend capacity.
- Over time, net income trends reveal how resilient and profitable the business model really is.
📘 Free Cash Flow (FCF)
📈 What is it?
Free Cash Flow shows how much actual cash remains after a company covers its operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
FCF reflects a company’s real financial strength – regardless of accounting profits. It shows how much flexibility a company has for dividends, share buybacks, or debt reduction.
🧮 Calculation
🎯 What does this mean for investors?
- High free cash flow means the company generates real, usable cash – independent of reported net income.
- It’s often the most reliable base for sustainable dividends and buybacks.
- Declining FCF can be an early warning sign – even when profits appear stable.
📘 Revenue Growth
📈 What is it?
Revenue growth shows how much a company’s sales have changed compared to the previous year – both on a trailing basis (TTM) and based on forward projections.
🧮 How is it calculated?
Forward = (Expected revenue ÷ Revenue in prior year − 1) × 100
Forward growth is based on analyst estimates for the current fiscal year.
🏛️ Why is it important?
Rising revenue signals growing demand, business expansion, and market share gains – especially important for growth-oriented companies.
🧮 Calculation
🎯 What does this mean for investors?
- Growth is the engine of long-term value creation – especially in tech and growth sectors.
- What matters is not just current growth, but its sustainability.
- Forward projections reflect whether analysts expect continued momentum – or a slowdown.
📘 EBITDA Growth
📈 What is it?
EBITDA growth shows how much a company’s operating profit (before interest, taxes, depreciation, and amortization) has increased or decreased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBITDA ÷ EBITDA from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
Growing EBITDA indicates improving operational profitability – regardless of financing or accounting effects.
🧮 Calculation
🎯 What does this mean for investors?
- Strong EBITDA growth signals operational efficiency and scalability – especially during growth phases.
- EBITDA growth can be an early indicator of margin and earnings expansion – but should be assessed alongside revenue and EBIT.
📘 EBIT Growth
📈 What is it?
EBIT growth shows how much a company’s operating profit (after depreciation, but before interest and taxes) has increased compared to the previous year.
🧮 How is it calculated?
Forward = (Expected EBIT ÷ EBIT from prior year − 1) × 100
The forward estimate is based on analyst projections for the current fiscal year.
🏛️ Why is it important?
EBIT growth is a direct indicator of a company’s business performance – taking into account capital intensity through depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- Rising EBIT signals improving operating profitability – even after accounting for depreciation.
- It’s especially important for evaluating companies with significant capital expenditures.
- Combined with revenue and EBITDA growth, EBIT growth provides a well-rounded view of operational progress.
📘 Net Income Growth
📈 What is it?
Net income growth shows how much a company’s bottom-line profit has increased or decreased compared to the previous year – both on a trailing basis (TTM) and based on analyst projections.
🧮 How is it calculated?
Forward = (Expected net income ÷ Net income from prior year − 1) × 100
The forward estimate reflects analysts’ expectations for the current fiscal year.
🏛️ Why is it important?
Net income is the ultimate measure of profitability. Growing net income signals stronger efficiency, cost control, and sustainable earnings power.
🧮 Calculation
🎯 What does this mean for investors?
- Stronger net income boosts valuation, dividend potential, and investor confidence.
- If profits stall while revenue grows, it may signal margin pressure.
📘 Free Cash Flow Growth
📈 What is it?
Free cash flow (FCF) growth shows how a company’s available cash – after covering operating expenses and capital expenditures – has changed compared to the previous year.
🧮 How is it calculated?
🏛️ Why is it important?
Free cash flow reflects real financial strength. Growing FCF indicates more flexibility for dividends, share buybacks, and reinvestment.
🧮 Calculation
🎯 What does this mean for investors?
- Declining FCF may point to rising investments, increasing costs, or weaker operating performance.
- Especially for dividend investors, FCF growth is critical – since dividends are paid from actual available cash.
- A negative trend isn't always bad, but it deserves closer attention.
📘 Gross Margin
📈 What is it?
Gross margin shows how much of a company’s revenue remains after deducting the direct costs of goods sold (like materials and production). It represents the company’s “raw profit” before fixed costs, taxes, and interest.
🧮 How is it calculated?
Or simply: Gross Margin = Gross Profit ÷ Revenue × 100
🏛️ Why is it important?
Gross margin indicates how efficiently a company can produce or procure what it sells. It is a key measure of product-level profitability and pricing power.
🧮 Calculation
🎯 What does this mean for investors?
- A high gross margin suggests strong pricing power and efficient production.
- Falling margins may signal rising input costs or competitive pressure.
- Compared to peers, gross margin offers insights into the quality of a business model.
📘 EBITDA Margin
📈 What is it?
The EBITDA margin shows how much of a company’s revenue remains as operating profit before interest, taxes, depreciation, and amortization.It reflects operating efficiency without being distorted by financing or accounting factors.
🧮 How is it calculated?
🏛️ Why is it important?
The EBITDA margin reveals how much operating income a company generates per dollar of revenue – independent of capital structure and tax effects.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBITDA margin reflects strong core profitability – before accounting distortions.
- It allows for effective comparisons across companies and sectors.
- A stable or growing margin signals efficient cost control and business scalability.
📘 EBIT Margin
📈 What is it?
The EBIT margin shows what percentage of revenue remains as operating profit after depreciation but before interest and taxes.
🧮 How is it calculated?
🏛️ Why is it important?
The EBIT margin reflects a company’s core profitability while accounting for capital intensity (e.g. machinery, infrastructure). It’s especially useful for comparing businesses with different levels of depreciation.
🧮 Calculation
🎯 What does this mean for investors?
- A high EBIT margin shows that the company remains efficient even after factoring in depreciation.
- It’s especially relevant for capital-intensive industries.
- Stable or rising EBIT margins over time are a strong indicator of pricing power and business quality.
📘 Net Margin
📈 What is it?
Net margin shows how much of a company’s revenue remains as bottom-line profit after deducting all costs, interest, taxes, and depreciation.
🧮 How is it calculated?
🏛️ Why is it important?
Net margin reflects a company’s overall efficiency – across operations, financing, and taxation. It shows how much actual profit is generated from each dollar of revenue.
🧮 Calculation
🎯 What does this mean for investors?
- A high net margin means the company is not only strong operationally but also manages financing and taxes efficiently.
- Peer comparisons reveal business quality and competitiveness.
- Declining margins despite revenue growth can be a red flag for rising costs or inefficiencies.
📘 Free cash flow margin
📈 What is it?
The free cash flow (FCF) margin shows how much of a company’s revenue remains as actual free cash after covering all operating expenses and capital expenditures.
🧮 How is it calculated?
🏛️ Why is it important?
This margin reflects the true liquidity generated by the business – independent of accounting rules or depreciation. It’s especially relevant for dividends, buybacks, and reinvestment decisions.
🧮 Calculation
🎯 What does this mean for investors?
- A high FCF margin means a company consistently generates strong cash flow.
- It’s a positive signal for financial stability and shareholder returns.
- The long-term trend is key – a declining margin may indicate rising investments or weakening operating efficiency.
📘 Equity Ratio
📈 What is it?
The equity ratio indicates what portion of a company’s total assets is financed by shareholders’ equity – in other words, how much it relies on its own capital.
🧮 How is it calculated?
🏛️ Why is it important?
A high equity ratio reflects financial strength and stability, especially during downturns. It’s a key indicator of a company’s solvency and long-term risk profile.
🧮 Calculation
🎯 What does this mean for investors?
- Companies with high equity ratios are generally more resilient and less dependent on external debt.
- Low equity ratios can signal higher risk or aggressive financial strategies.
- Important: Always assess the equity ratio in combination with the return on equity (ROE). This shows not just how stable the company is – but also how efficiently it uses shareholder capital.
📘 Return on Equity (ROE)
📈 What is it?
Return on equity (ROE) shows how efficiently a company uses its shareholders’ equity to generate profit. In other words: how much net income is earned per dollar of equity.
🧮 How is it calculated?
🏛️ Why is it important?
ROE is a core profitability metric. It helps investors understand whether a company delivers attractive returns on the capital provided by its shareholders.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROE indicates that the company is using its capital efficiently and profitably.
- It’s especially meaningful for capital-intensive businesses or firms with high equity bases.
- Important: A very high ROE can also result from high debt levels – always interpret it alongside the equity ratio to assess financial health.
📘 Return on Capital Employed (ROCE)
📈 What is it?
ROCE measures how efficiently a company generates profits from its total capital – including both equity and interest-bearing debt.
🧮 How is it calculated?
It evaluates the return on all capital employed, regardless of how it’s financed.
🏛️ Why is it important?
ROCE is ideal for comparing companies with different financing structures. It shows how well management uses capital to create value for both shareholders and creditors.
🎯 What does this mean for investors?
- A high ROCE means the company uses its capital efficiently – regardless of whether it's funded by debt or equity.
- The higher the ROCE compared to peers, the more value the company creates with its invested capital.
- Especially relevant for capital-intensive sectors like industrials, energy, or infrastructure.
📘 Return on Invested Capital (ROIC)
📈 What is it?
ROIC measures how efficiently a company generates returns from the capital invested in its core operations – regardless of whether the capital comes from equity or debt.
🧮 How is it calculated?
- NOPAT = Net Operating Profit After Taxes
- Invested Capital = Operating assets minus non-interest-bearing liabilities
🏛️ Why is it important?
ROIC is one of the most accurate indicators of capital efficiency. Unlike return on equity, it is not distorted by leverage and shows how much value is created for all capital providers.
🧮 Calculation
🎯 What does this mean for investors?
- A high ROIC shows how effectively a company uses the capital that is truly invested in its core operations.
- Unlike ROCE, ROIC focuses only on the capital that is actively used to run the business – and that requires a return (i.e. interest-bearing).
- Especially useful when comparing companies with large amounts of excess cash or non-interest-bearing liabilities – giving a more realistic picture of capital efficiency.
📘 Leverage Ratio (Debt-to-Equity)
📈 What is it?
The leverage ratio indicates how much a company relies on interest-bearing debt (such as loans and bonds) relative to its shareholders’ equity.
🧮 How is it calculated?
🏛️ Why is it important?
This ratio helps assess a company’s financial structure and risk profile. High leverage can enhance returns – but also increases exposure to interest rate changes and financial stress.
🎯 What does this mean for investors?
- A low leverage ratio signals financial strength and independence.
- A higher ratio can improve returns in good times but increases risk during downturns or rising interest rate periods.
- 👉 Always interpret in the context of industry, capital intensity, and interest rate environment.
📘 Earnings per share (EPS)
📈 What is it?
Earnings per Share (EPS) shows how much profit is attributable to a single share – and is one of the most important metrics for evaluating a company's performance.
🧮 How is it calculated?
The diluted share count reflects potential new shares that could be issued through options, convertible bonds, or other rights.
🏛️ Why is it important?
EPS is the basis for many key valuation metrics like P/E ratio, PEG ratio, or payout ratio. It enables comparisons of profitability across companies, regardless of their size.
🧮 Calculation
🎯 What does this mean for investors?
- EPS captures per-share profitability and is especially useful for comparisons over time or with analyst estimates.
- Rising EPS may signal consistent growth or share buybacks.
- Important: Always use diluted EPS for more realistic valuations – especially in companies with stock-based compensation.
📘 Free cash flow per share (FCF per share)
📈 What is it?
Free Cash Flow per Share shows how much free cash flow a company generates per outstanding share – after investments, but before dividends or debt repayments.
🧮 How is it calculated?
Free cash flow is calculated as operating cash flow minus capital expenditures (CapEx).
🏛️ Why is it important?
FCF per Share reveals how much real cash is available per share – useful for dividends, buybacks, or reducing debt. Unlike net income, free cash flow is harder to manipulate and often seen as a more reliable metric.
🧮 Calculation
🎯 What does this mean for investors?
- High FCF per share signals strong financial flexibility.
- It shows how much capital the company can effectively reinvest or return to shareholders.
- Particularly relevant for dividend payers and capital-efficient businesses.
📘 Short interest
📈 What is it?
Short interest indicates how many shares of a company are currently sold short – that is, borrowed and sold by investors who expect the price to decline.
🧮 How is it calculated?
It reflects the percentage of a company’s shares that are being shorted relative to the total shares available.
🏛️ Why is it important?
Short interest serves as a sentiment indicator: A high value may signal skepticism or bearish expectations – but also increases the potential for a short squeeze if prices rise unexpectedly.
🎯 What does this mean for investors?
- Low short interest usually indicates market confidence in the company.
- High short interest can be a warning sign – or an opportunity if sentiment shifts.
- Especially relevant in volatile markets or ahead of key earnings releases.
📘 Employees
📈 What is it?
The employee count shows how many people a company employs worldwide – offering insights into its size, structure, and business model.
🧮 How is it calculated?
🏛️ Why is it important?
It helps assess operational scale, labor intensity, and cost structure. Combined with revenue and profit, it enables key metrics like revenue per employee or productivity.
🧮 Calculation
🎯 What does this mean for investors?
- A high headcount can signal operational complexity – but also significant growth capacity.
- Revenue per employee is a key indicator of efficiency.
- Especially useful for comparing tech, industrial, or service-heavy companies.
📘 Revenue per employee
📈 What is it?
Revenue per employee indicates how much revenue a company generates on average per employee – a key measure of efficiency and productivity.
🧮 How is it calculated?
The employee count is typically taken from the most recent annual report.
🏛️ Why is it important?
This metric helps compare business models – especially between labor-intensive and technology-driven companies. A high value suggests automation, operational efficiency, or strong value creation per head.
🧮 Calculation
🎯 What does this mean for investors?
- A high revenue per employee indicates a scalable and margin-strong business model.
- A low figure may reflect labor-intensive operations or lower value-add.
- Especially helpful when comparing tech companies to industrial or service sectors.
Kawasaki Heavy Industries Stock Analysis
Analyst Opinions
19 Analysts have issued a Kawasaki Heavy Industries forecast:
Analyst Opinions
19 Analysts have issued a Kawasaki Heavy Industries forecast:
Kawasaki Heavy Industries Events
Past Events
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MAY
11
Q4 2026 Earnings Call
5 months ago
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FEB
8
Q3 2026 Earnings Call
8 months ago
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NOV
10
Q2 2026 Earnings Call
11 months ago
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Kawasaki Heavy Industries — Q4 2026 Earnings Call
1. Management Discussion
Thank you for your participation today. My name is Hashimoto, President. Firstly, please allow me to offer my sincere apologies once again for the concern caused to our stakeholders as a result of the misconduct incidents uncovered in the previous fiscal year during the process of addressing past underlying issues. In December last year, we received the final report of the Special Investigative Committee.
The impact of these incidents on our results was reflected in the results for fiscal year 2025, and we believe that some of the financial impact of these incidents on results from the current fiscal year onwards have been limited. Our company will remain fully focused on regaining the trust of our stakeholders. Regarding our full year results for fiscal year 2025, revenue was JPY 2.3112 trillion. Business profit was JPY 145.1 billion and profit attributable to owners of parent was JPY 108.1 billion. In all cases, we recorded record results for a second consecutive fiscal year.
Turning to the full year forecast for fiscal year 2026, we have set the exchange rate of JPY 150 to the dollar. For business profit, which attracts significant attention, we anticipate recording JPY 170.0 billion. This would exceed our previous record for business profit by a large margin. We expect revenue to increase compared with fiscal year 2025, and we anticipate an increase of profit to JPY 110.0 billion.
Accordingly, we are making steady progress towards our fiscal year 2030 target of a business profit margin exceeding 10% in all business segments. Regarding the external environment, we expect difficulties with procuring materials and production delays as a result of the Middle East situation, and we have incorporated a certain amount of risk in the forecast.
Turning to U.S. tariff policy. Our assumptions are based on the systems and tariff rates that have already been applied or are expected to be applied at this stage. However, we have not incorporated impacts from any refunds of reciprocal tariffs paid in the previous fiscal year. Looking ahead, in the next and later announcements of our financial highlights, we will reflect the latest situation in our results forecasts as necessary.
Let's now move on to a more detailed explanation.
Allow me to hand you over to Mr. Yamamoto.
My name is Yamamoto, Chief Financial Officer. Thank you for your participation. Allow me to present the financial highlights. This is Page 5. In our financial highlights for fiscal year 2025. As you can see, revenue and profit both increased year-on-year, and our company recorded record highs for orders received, revenue and profit.
Pretax income was JPY 145.5 billion, an increase of JPY 23.5 billion compared with the February forecast, and net income was JPY 108.1 billion, an increase of JPY 18.1 billion on the forecast. The weighted average exchange rate was approximately JPY 1.7 stronger than in the previous fiscal year, and U.S. dollar-based transactions amounted to approximately $2.2 billion.
Please see Page 6. This chart provides a breakdown of orders received, revenue and business profit for each segment. As point 1 shows, in the Energy Solutions & Marine Engineering segment, the Energy business in the Ship & Offshore Structure business continued to perform strongly and revenue and profit both increased.
In contrast, as point 2 shows, in the Powersports & Engine segment, despite an increase in revenue, profit decreased due to factors such as increased tariff costs and decreased profitability against the backdrop of intensifying competition in the U.S. Powersports market.
Page 7 shows the statement of profit and loss. Please see the chart for details. As point 1 shows selling, general and administrative expenses increased due to revenue growth, but the selling, general and administrative expenses ratio decreased as a result of our efforts to control fixed costs.
Please see Page 8. As point 2 shows, foreign exchange gains of JPY 18.9 billion were recorded due to translation gains arose on foreign currency-denominated receivables resulting from depreciation in the value of the yen at the end of the fiscal year. Consequently, profit attributable to owners of parent increased by JPY 20.1 billion year-on-year to JPY 108.1 billion.
This is Page 9. Next, I will explain the factors affecting changes in business profit. Regarding change in revenue, the Powersports & Engine segment contributed significantly to revenue due to increased sales. In contrast, looking at change in product mix and other factors, despite a noteworthy improvement in profitability in the Energy Solutions & Marine Engineering segment, profitability dropped sharply in the Powersports & Engine segment. As a result, business profit increased by JPY 1.9 billion year-on-year to JPY 145.1 billion. Business profit decreased by JPY 18.7 billion due to cost increase due to U.S. tariff policies. Mainly in the Powersports & Engines segment.
Please refer to Page 10 for a detailed breakdown by segment.
Page 11 shows the statement of financial position. Please refer to the provided materials for details on the factors contributing to changes in assets at the end of fiscal year 2025.
Please see Page 12. Looking at factors contributing to changes in liabilities and net assets, a significant improvement was recorded in the net debt-to-equity ratio, which was 54.5% compared with the targeted 70% range. This was due to securitization of receivables as well as allocation of a portion of the JPY 80.0 billion consideration from the transfer of 20% of the shares of Kawasaki Motors Limited to ITOCHU Corporation as shown in Point 6.
Page 13 shows the statement of cash flows. Despite increases in trade receivables and inventories in the Powersports & Engine and Aerospace Systems segments, obtaining profits had a strong impact and positive free cash flows of JPY 12.0 billion were recorded. This was the second consecutive fiscal year of positive free cash flows. Please see Page 14. For reference, we have provided a chart showing the cash flow trends over the past 10 years.
This is Page 16. This shows the forecast for fiscal year 2026. The exchange rate assumption is JPY 150 to the dollar, and we anticipate business profit of JPY 170 billion, significantly exceeding last year's record high profit and an increase of profit to JPY 110 billion. Our view is that steady progress is being made towards our fiscal year 2027 target of a business profit ratio of 8% as well as our fiscal year 2030 target of a business profit ratio exceeding 10% in all business segments.
Regarding external environment risks, as the materials show, we have incorporated an impact of approximately JPY 8.0 billion in business profits from the Middle East situation on the assumption that the distribution of crude oil and others will have restarted and economic activities will have stabilized by the end of June.
As for the impact of U.S. tariff policy, we have incorporated estimates based on the current regulatory framework, but we have not incorporated refunds related to IEEPA tariffs.
Page 17 shows factors affecting changes in business profit of fiscal year 2026. Decreased profitability resulting from cost increases related to U.S. tariff policy were mostly covered by increased revenue effects and price optimization. Accordingly, we anticipate achieving a large year-on-year increase in profits.
Please see Page 18. We anticipate increased profits in the Aerospace Systems, Energy Solutions & Marine Engineering, Precision Machinery and Robot and Powersports & Engine segments, mostly as a result of increased revenue. Meanwhile, we have recorded a decrease in profit under elimination in corporate as a result of active investments in new business. Please see Page 53 for details.
Page 21 is about Aerospace Systems. The slide shows the results for fiscal year 2025. Revenue slightly underperformed the figures announced in February, but business profit finished at JPY 62.4 billion, up JPY 2.4 billion as a result of improved profitability in the Aero Engine business.
Turning to the forecast for fiscal year 2026. We anticipate a temporary decrease in orders received because fiscal year 2026 will fall between large orders received in Ministry of Defense Business. However, revenue is expected to increase due to higher revenue in Aero Engine Business, specifically in Ministry of Defense Business, Boeing Business and Commercial Aircraft business. Accordingly, we anticipate a major increase in profit as a result of this increased revenue.
This is Page 22. For your reference, Page 22 provides results for orders received in revenue in the Aerospace and Aero Engine businesses, including the number of aircraft component parts sold to Boeing and the number of aircraft engine component parts sold.
This is Page 23. This page shows the quarterly trends in revenue and business profit. Also provided for your reference, it gives an overview of past trends.
This is Page 24. This page outlines the current state of the business environment and order trends in the segment. It also presents the specific efforts we are taking to achieve the forecast.
Page 25 is about rolling stock. The slide shows the results for fiscal year 2025. Regarding the forecast for fiscal year 2026, we anticipate a decrease in orders received in reaction to the large orders received in the previous fiscal year in the project for the New York City Transit Authority. However, revenue is expected to be almost flat, and we anticipate profit of JPY 10.0 billion, up JPY 1.4 billion, partly reflecting one-off losses in the previous fiscal year.
This is Page 26. This page shows orders received and revenue in Japan, Asia and North America. For your reference, it also shows revenue in aftersales service, which we have focused on as a profitable business undertaking and the progress of the R211 Project for the New York City subway in the U.S. For your reference, Page 27 shows quarterly trends in revenue and business profit.
This is Page 28. Details of the situation in the Middle East are shown for your reference, including the impact of the difficulty in procuring solvents on production processes as well as countermeasures. As of the start of May, we have been able to secure materials.
Page 29 is about Energy Solutions & Marine Engineering. The slide shows the results for fiscal year 2025. Regarding business profit, in the fourth quarter, we recorded an amount to account for the impact of the misconduct incidents related to submarines. And for this reason, the target announced in February was not reached.
Turning to the fiscal year 2026 forecast. We anticipate an increase in orders received due to increased orders in the Plant Business, Ship & Offshore Structure Business and Ministry of Defense Business. Revenue is expected to increase due to higher revenue in the Marine Machinery Business and the Ship & Offshore Structure Business. We anticipate JPY 69.0 billion in business profit, an increase in profit of JPY 14.0 billion year-on-year due to increased profit from higher revenue as well as a reaction to the one-off losses in the previous fiscal year described above.
This is Page 30. This page provides a breakdown of orders received in revenue for the Energy, Plant & Marine Machinery Business and the Ship & Offshore Structure Business. This is Page 31. An explanation of this page will be omitted.
This is Page 32. Looking at specific efforts, the key role in this segment is played by products and services that contribute to realizing a low-carbon or decarbonized society. This page shows an order received for a waste treatment facility. Looking at measures for providing decarbonization solutions, please refer to our introduction of the launch of demonstration operation in the Harima plant of a centrifugal hydrogen compressor for hydrogen liquefaction plants.
Page 33 is about the Precision Machinery & Robot segment. This slide shows the results for fiscal year 2025, which were almost in line with the forecast announced in February for both revenue and profit. Regarding the forecast for fiscal year 2026, we anticipate increases in both orders received and revenue as a result of increases in hydraulic machinery business supplying the construction machinery market in China and business and robots used for semiconductor manufacturing equipment. Profit is also expected to increase as a result of increased revenue.
This is Page 34. This page shows orders received and revenue for both the Precision Machinery business and the Robot business. Revenue from hydraulic components and systems to the Chinese market and a breakdown of robot-related revenue by segment are also provided for your reference. This is Page 35. An explanation of this page will be omitted.
This is Page 36. Please refer to this page regarding the business environment. As I explained earlier, business in both hydraulic components and systems and Robots is expected to recover steadily. Page 37 is about Powersports & Engine. Regarding results in fiscal year 2025, revenue and profit both increased compared with the figures announced in February. Regarding the forecast for fiscal year 2026, we anticipate increases in both revenue and profit. Reasons include strong sales figures and the growing market share for motorcycles in both North America and Europe. This is despite the effects of the Middle East situation and an additional burden of JPY 17.3 billion compared with the previous fiscal year as a result of U.S. tariffs.
This is Page 38. Page 38 shows revenue from motorcycles for developed countries, motorcycles for emerging markets, 4-wheelers and PWC and general-purpose gasoline engines. For reference, we have also included regional sales volumes for motorcycles and sales figures for 4-wheelers and PWCs. This is Page 39. An explanation of this page will be omitted.
This is Page 40. It explains matters such as the business environment and trends in orders received. For reference, we have provided you information about the impact of the situation in the Middle East. This is Page 42. Regarding shareholder returns, as announced in February, from the current fiscal year, we will implement dividends based on the DOE standard of 4%. Reflecting the increase in profit, our year-end dividend for fiscal year 2025 was JPY 19.2 per share, an increase of JPY 1 per share compared with the figure announced in February. This brings the annual dividend per share to JPY 34.2. In fiscal year 2026, we anticipate an increase in the annual dividend of JPY 40 per share.
This is Page 43. Here, we would like to report on 2 project topics. Firstly, from the perspectives of energy security and the acceleration of carbon neutrality, we will introduce hydrogen technology and our gas-to-gasoline (GTG) technology. Amid growing energy security risks globally stemming from the worsening situation in the Middle East, expectations are likely to increase further for hydrogen as an alternative energy to fossil fuels and as a fundamental resource that can be converted into a wide range of products.
For instance, the GTG plant, which was completed by Kawasaki Heavy Industries in Turkmenistan in 2019, uses natural gas to manufacture high-quality gasoline and through the process, synthesizes hydrogen and CO2. By using plant-derived CO2 or CO2 captured through technologies such as that for synthesis with hydrogen, this technology makes it possible to produce carbon-neutral gasoline. Currently in Japan, shortages of petrochemical materials such as naphtha are becoming a concern, but application of our GTG technology will enable the production of these materials. We believe this will present many business opportunities for Kawasaki Heavy Industries.
This is Page 44. This page introduces a collaboration on next-generation construction machinery solutions that our company is pursuing with Bosch Rexroth Corporation, a globally leading hydraulic machinery company. By blending our company's strength in cross-functional technologies and high-quality hydraulic machinery with Bosch Rexroth's specialist knowledge of systems and advanced digital resources, we aim to establish next-generation standard technology and reinforce our competitiveness.
Please see Page 45. Given that this presentation concerns our year-end results, we would like to take a look at 2 ESG-related topics. Firstly, we explained the response to the cases of misconduct that were uncovered in 2024. We received the final report of the Special Investigative Committee in December 2025 and released it on the same day. In response, as the slide shows, since the cases were uncovered, we have executed appropriate and ongoing recurrence prevention measures. More recently, in April this year, we newly established the quality assurance general department as an organization for guaranteeing quality across the whole company. By establishing the quality control department under the quality assurance group, we have built a system for giving central monitoring and guidance on the quality control functions of each division.
Furthermore, we have newly established the Organizational Culture Reform and Compliance group, which is directly overseen by the Human Resources Division to promote an integrated approach to human resources development and legal compliance measures. In this way, we will accelerate the transformation of our corporate culture based on a platform of trust and dialogue and steadily promote business transformation to give the highest priority to compliance.
Please see Page 46. Since fiscal year 2020, our company has conducted an annual index engagement survey of our employees. For our KPI, we are using the Active Group ratio designated by WinDEX, a third-party organization. This approach has allowed us to make efforts to increase employee engagement. In fiscal year 2025, our efforts to reform our organizational culture paid off, and we achieved a significant improvement in our Active Group ratio to 36%, up 5 points year-on-year. This is above the average for Japanese companies. We will continue to strengthen these activities with the goal of reaching the global standard of 50% by fiscal year 2030.
Moreover, our company has been selected once again as a component of the Dow Jones Best-in-Class Indices, a global stock index. This is the second consecutive year we have been selected after our inclusion in the previous fiscal year. We see this as evidence of the high regard given to our company's ongoing implementation of ESG initiatives. Supplementary information is provided from Page 47 onwards. A breakdown of the elimination in corporate has been newly provided on Page 53. Please refer to this as well.
This concludes the presentation. Thank you for your attention.
I will now explain the outlook for achieving a business profit margin of 10% as described in our Group Vision 2030. As explained earlier, in our consolidated results for fiscal year 2025, we achieved new records for revenue and business profit. Looked at by business, large contributions to our profits were made by order-based businesses, including not only the Aerospace Systems business, but also the Energy Solutions & Marine Engineering business.
A large contribution was also made in the ship & offshore structure business as a result of strong performance in shipbuilding business at the joint ventures in China as well as ongoing construction of LPG and ammonia carriers in Japan. Concerning rolling stock, business has stabilized, particularly in our North American business as a result of mass production of the R211 project for the New York City Transit Authority and an additional order received for the same type in the R268 Project.
In mass production-based businesses, the Precision Machinery and Robot segment contributed to profitability through progress with cost pass-through and cost reductions as well as increased sales of robots used for semiconductor manufacturing equipment, which is one of our strengths in this segment. In the Powersports & Engine segment, despite an impact from tariffs in the fourth quarter, sales and profit exceeded expectations for reasons such as strong sales of high-priced 4-wheelers. In light of these circumstances, we expect as the outlook for our company's results in fiscal year 2026 presented today to significantly surpass fiscal year 2025 in both revenue and business profit.
Looking ahead, we expect impacts from changes in the external environment, including the Middle East situation, exchange rates and U.S. tariffs. However, we also sense further opportunities for our company to demonstrate the true value of the technologies and businesses we have cultivated, including expanded defense budgets, the emergence of physical AI and the 17 strategic fields clarified by the Japanese government. The profit levels for fiscal year 2025 and 2026 may appear to show a certain gap from your perspective. However, as you know, in the Aerospace Systems business, both commercial and defense businesses are expected to grow from fiscal year 2027 onward.
In addition, we are currently implementing business reforms in the precision machinery and robot, which are expected to improve profitability and significant results from these initiatives are expected to emerge from fiscal year 2027.
Furthermore, in the 4-wheeler business of Kawasaki Motors Limited, production and sales are also expected to stabilize further from fiscal year 2027, making the 8% target for fiscal year 2027 an increasingly realistic figure.
Our entire group will come together to promote our business with the aim of achieving our fiscal year 2030 target of a business profit margin exceeding 10% in all business segments. We hope you will provide us with even greater guidance and encouragement in the future. Thank you for listening.
[Statements in English on this transcript were spoken by an interpreter present on the live call.]
Kawasaki Heavy Industries — Q4 2026 Earnings Call
Record FY2025 results and a bullish FY2026 profit target, while management pushes governance reforms and flags tariff and Middle East risks.
📊 Quarter at a Glance
- Revenue: JPY 2.3112 trillion, record for a second consecutive year; management expects revenue to rise in FY2026.
- Business profit: JPY 145.1 billion (+JPY 1.9 billion YoY); tariff-related costs reduced profit by ~JPY 18.7 billion.
- Net income: Profit attributable to owners JPY 108.1 billion (+JPY 20.1 billion YoY), helped by foreign-exchange translation gains of JPY 18.9 billion.
- Cash & leverage: Positive free cash flow JPY 12.0 billion; net debt-to-equity improved to 54.5% aided by receivables securitization and JPY 80.0 billion from a 20% share sale of Kawasaki Motors.
🎯 What Management Says
- Trust & governance: Management apologized for prior misconduct, released the Special Investigative Committee report and created a company-wide quality assurance department plus an Organizational Culture Reform and Compliance group to prevent recurrence.
- Margin targets: Reiterated Group Vision targets — FY2027 business profit ratio target of 8% and FY2030 goal of >10% margin across all segments; emphasis on execution in aerospace, energy/shipbuilding, precision machinery, robots and defense.
- Tech & partnerships: Prioritizing hydrogen and gas-to-gasoline (GTG) technologies for decarbonization and energy security; strategic collaboration with Bosch Rexroth on next‑generation hydraulic construction machinery.
🔭 Outlook & Guidance
- FY2026 targets: Assumes JPY 150/USD; business profit JPY 170.0 billion; profit attributable JPY 110.0 billion; revenue expected to increase versus FY2025.
- Shareholder returns: Using Dividend on Equity (DOE) standard of 4%; FY2025 annual dividend JPY 34.2 per share and FY2026 annual dividend expected at JPY 40 per share.
- Key risks: Incorporated ~JPY 8.0 billion impact from Middle East supply disruptions and ~JPY 17.3 billion tariff burden in Powersports; forecasts do not assume refunds related to U.S. IEEPA tariffs and will be updated if situations change.
⚡ Bottom Line
- Bottom line: Kawasaki shows clear operational momentum with record FY2025s and an aggressive FY2026 profit target, backed by order-rich, high-margin businesses. Near-term risks (Middle East supply issues, U.S. tariffs) and the company's governance reforms are the two items investors should watch; execution on aerospace, hydrogen and cost programs will determine if longer-term margin targets are achievable.
Disclaimer: This analysis was generated with AI. AI can also make mistakes. This is not investment advice.
Kawasaki Heavy Industries — Q3 2026 Earnings Call
1. Management Discussion
My name is Yamamoto. Thank you for your participation. Allow me to present the financial highlights.
In our financial results for the third quarter of fiscal year 2025, our company achieved revenue of JPY 1.5614 trillion, a year-on-year increase of JPY 154 billion.
Turning to profits. Improved profitability in the Aerospace Systems and the Energy Solutions and Marine Engineering segments covered the Powersports and Engine business, which was greatly impacted by increased tariff costs. Accordingly, business profit increased year-on-year to JPY 82.4 billion, and pretax income and profit were both up. Record third quarter-to-date figures were recorded for orders received, revenue and profit.
Turning to the full year forecast for fiscal year 2025. The figures for business profit were unchanged. However, pretax income and profit were revised upwards from the previously announced figures by JPY 7 billion and JPY 8 billion, respectively, as a result of realizing foreign exchange gains in the third quarter. Today, our company announced changes to our shareholder return policy and the stock split, and I will explain this on a later slide. This concludes the summary.
I will provide more details beginning on Page 5. As this slide shows, overall, the results for the third quarter of fiscal year 2025 are tracking generally in line with the guidance given when the second quarter financial results were explained in the previous announcement in November. As you can see, the weighted average exchange rate was approximately JPY 2.7 stronger than in the previous year and U.S. dollar-based transactions amounted to $1.72 billion.
Please see Page 6. This chart provides a breakdown of orders received, revenue and business profit for each segment. As point 1 shows, in the Energy Solutions & Marine Engineering segment, there was a strong performance from the Energy business and the Ship & Offshore Structure business. In contrast, as point 2 shows, profit decreased in the Powersports & Engine business due to factors such as increased tariff costs and decreased profitability against the backdrop of intensifying competition in the U.S. powersports market. Overall, profit increased JPY 3.3 billion to JPY 82.4 billion.
Page 7 shows the statement of profit or loss. Please see the chart for details.
Please see Page 8. As point 2 shows, foreign exchange gains increased significantly due to depreciation in the value of the yen through the end of the third quarter. As a result, quarterly profit before tax increased JPY 24.4 billion to JPY 88.8 billion and quarterly profit attributable to owners of parent increased JPY 21.6 billion to JPY 65.8 billion.
This is Page 9. I will now explain the factors behind changes in business profit. The appreciation of the yen against the U.S. dollar compared to last year's exchange rate was a factor contributing to a decrease of JPY 6.5 billion in effects of FX rates. Regarding change in revenue, there was an increase in revenue in all segments. In particular, the Powersports & Engine business made a noticeable contribution. Consequently, business profit increased by JPY 32 billion, offsetting the negative impact of exchange rate fluctuations.
Despite improvements in the Energy Solution & Marine Engineering segment and the Precision Machinery & Robot segment, there was a deterioration of JPY 16.9 billion in change in product mix and other factors due to a sharp decline in the Powersports & Engine segment. Please refer to Page 10 for a detailed breakdown by segment.
Page 11 shows the statement of financial position. Concerning the factors contributing to changes in assets in the third quarter, as point 1 shows, inventories followed upward trends in the Powersports & Engine segment and the Aerospace Systems segment as a result of increasing revenue.
Please see Page 12. This shows factors contributing to changes in liabilities and equity for your reference. The net debt-to-equity ratio was 90.5%, which was a significant improvement from the same period last year.
Page 13 shows the cash flow statement. Details are shown in the materials.
Please see Page 14. For reference, we have provided a chart showing the cash flow trends over the past 10 years.
This is Page 16. This shows the full year forecasts for fiscal year 2025. The forecasts for revenue and business profit remain unchanged. However, the forecast for orders received has been revised upward by JPY 90 billion from the previous announcement to JPY 2.62 trillion, reflecting an increase in orders for domestic waste incineration plants and other factors. I will provide more details on the next page.
This is Page 17. Concerning the full year forecast for business profit, please refer to the changes in the forecast since the beginning of year announcement.
Please see Page 18. This chart shows a breakdown of performance forecast by segment. Detailed explanations will be provided on the individual segment pages.
Page 21 is about Aerospace Systems. This slide shows the results for the third quarter of fiscal year 2025. Despite an increase in Boeing business, orders received decreased as a reaction to the large bulk order for CH-47 helicopters received in Ministry of Defense business in the third quarter of the previous fiscal year. Revenue increased year-on-year due to increases in Ministry of Defense business and Boeing business. Business profit increased due to increased profit resulting from higher revenue.
Looking at the forecast for fiscal year 2025, the forecast for orders received from the Ministry of Defense was revised upward by JPY 20 billion compared with the previous announcement. The forecast for revenue was revised downward by JPY 10 billion due to declining revenue in Boeing and Ministry of Defense business. In terms of business profit, however, the forecast was revised upward by JPY 4 billion to JPY 60 billion due to improved profitability.
This is Page 22. For your reference, Page 22 provides the results of orders received in revenue in the Aerospace and Aero Engine businesses, including the number of aircraft component parts sold to Boeing and the number of aircraft engine component parts sold.
This is Page 23. This page shows the quarterly trends in revenue and business profit. Also provided for your reference, it gives an overview of past trends.
This is Page 24. We have updated the information on the business environment, mainly regarding the business for the Ministry of Defense for your reference.
Page 25 is about Rolling Stock. This slide shows the results for the third quarter of fiscal year 2025. Orders received increased sharply year-on-year due to an order of 378 railcars in the R268 project for New York City Transit, MTA in the United States. Revenue increased from business for the Japan and North American markets and business profit increased due to an increase in revenue.
The accounting treatment related to the settlement with the Washington Metropolitan Area Transit Authority, WMATA, concerning a 7000 series railcar announced on February 6 was recorded in the third quarter. As this matter had already been incorporated into the initial plan at the beginning of the fiscal year, it has no impact on the financial forecast announced this time. Accordingly, business profit remains unchanged from the previous forecast.
This is Page 26. This page shows orders received and revenue in Japan, Asia and North America. For your reference, it also shows revenue in aftersales service, which we have focused on as a profitable business undertaking and the progress of the R211 project for New York City Transit, MTA.
For your reference, Page 27 shows quarterly trends in revenue and business profit.
This is Page 28. It provides details of specific efforts for your reference.
Page 29 is about Energy Solutions & Marine Engineering. This slide shows the results for the third quarter of fiscal year 2025. While orders received decreased as a reaction to the orders received for submarines in multiple ships in the third quarter of the previous fiscal year, there were sharp year-on-year increases in both revenue and business profit due to strong performance in domains such as the energy business and the ship and offshore structure business.
Concerning the full year forecast for fiscal year 2025, an upward revision was made to orders received due to increased orders for domestic waste incineration plants. The forecast for revenue was unchanged, but business profit was revised upward by JPY 3.5 billion due to improved profitability in the energy business and the marine machinery businesses.
This is Page 30. This page provides a breakdown of orders received in revenue for the Energy System and Plant Engineering business and the Ship & Offshore Structure business.
This is Page 31. This page shows quarterly trends in revenue and business profit for your reference.
This is Page 32. One example of specific efforts contributing to sustainable social infrastructure was an order received for a jet oil, the first such order received in 8 years. For your reference, we have included an example of a solution for a decarbonized society, the completion at our company's Kobe Works of the installation of a demonstration facility for carbon dioxide separation and capture technology.
Page 33 is about the Precision Machinery & Robot segment. This slide shows the results for the third quarter of fiscal year 2025. Year-on-year increases were recorded for orders received, revenue and business profit. There is no change to the full year forecasts for fiscal year 2025 from the previous announcement.
This is Page 34. This page shows orders received and revenue for both the Precision Machinery business and the Robot business. Revenue from hydraulic machinery to the Chinese market and the breakdown of robot-related revenue by field are also provided for your reference.
This is Page 35. This page shows quarterly trends in revenue and business profit for your reference.
This is Page 36. It provides details of the business environment and trends in orders received for your reference.
Page 37 is about Powersports & Engine. This slide shows the results for the third quarter of fiscal year 2025. Looking at revenue, despite exchange rate impacts due to the yen's appreciation, increased revenue was achieved as a result of increases in revenue from 4-wheelers for North America and motorcycles for developed countries. Business profit decreased sharply for reasons such as increased tariff costs as well as decreased profitability against the backdrop of intensifying competition in the U.S. powersports market.
Looking at the full year forecast for fiscal year 2025, the forecast for revenue is unchanged, but the forecast for business profit has been reduced because of the decreased profitability resulting from intensifying competition in the U.S. powersports market.
This is Page 38. Page 38 shows revenue from motorcycles for developed countries, motorcycles for emerging markets, 4-wheelers and PWC and general-purpose engines. We have also included regional wholesale volumes for motorcycles, 4-wheelers and PWC for your reference.
This is Page 39. This page shows quarterly trends in revenue and business profit for your reference.
This is Page 40. This slide provides details of the business environment and trends in the Powersports & Engine business for your reference.
This is Page 42. Regarding shareholder returns, as announced today, starting with the year-end dividend for the fiscal year ending March 31, 2026, our company has decided to switch our shareholder return policy from the dividend payout ratio standard to the so-called DOE standard, whereby we aim to achieve a dividend on equity ratio of 4%. The objectives of this switch are to enhance long-term shareholder value and ensure more stable and sustainable shareholder returns.
As a result of this change, the forecast annual dividends for this fiscal year are JPY 166 per share, and the forecast year-end dividend is JPY 91 per share, an upward revision of JPY 16 per share from the previous announcement.
This is Page 43. Also, as announced today, our company will split our ordinary shares at a ratio of 5:1 using March 31 as the record date. We plan for the stock split to become effective on April 1. Through the stock split, we aim to develop an environment that will make it easier for investors to invest and to expand our investor base.
This is Page 44. Here, I would like to report on 3 project topics. Firstly, please allow me to explain the liquefied hydrogen supply chain business, which our company is tackling as a core next-generation business. In January 2026, our company signed a shipbuilding contract with our affiliated company, Japan Suiso Energy, to build the world's largest liquefied hydrogen carrier with a capacity of 40,000 cubic meters. Japan Suiso Energy plans to use this vessel to demonstrate the marine transportation and cargo handling of hydrogen as part of a liquefied hydrogen supply chain commercialization demonstration project led by NEDO.
As part of a technological demonstration project that preceded the commercialization demonstration, our company built the world's first liquefied hydrogen carrier, Suiso Frontier. In the spring of 2022, the Suiso Frontier successfully completed the marine transportation and cargo handling of liquefied hydrogen between Australia and Japan. So far, it has successfully navigated journeys of more than 100,000 kilometers to 5 countries.
In the latest commercialization demonstration project, we will be increasing the size of the liquefied hydrogen tank by 32x, which is enough to transport energy equivalent to the annual consumption of 80,000 ordinary homes in a single journey. The cooling tank technology needed to realize this high-volume transportation was newly developed based on the track record of Suiso Frontier. In this way, our company is making steady progress toward realization of a hydrogen society.
This is Page 45. It explains the approach to improving business stability for the rolling stock business in North America and capturing new business opportunities in Japan. As explained on an earlier slide, in the current third quarter, our company received an order of 378 railcars in the R268 project for New York City Transit Authority in the United States worth approximately JPY 225 billion. The order was received, thanks to our company's record of delivering 2,900 railcars to the New York City Transit Authority since 1982 and our excellent reputation for reliability. When the railcars have been fully delivered for the R268 project, our company's share of the authority subway fleet is expected to reach 56%.
The next project concerns the development of a new type of diesel electric railcar for the Japanese market, GreenDEC. This page explains that 5 companies have already decided to introduce GreenDEC. GreenDEC aims to help overcome the challenges facing regional railways who are struggling with aging diesel cars on nonelectrified lines and the need to reduce their environmental impact. GreenDEC is a hydrogen-ready product in the railways domain that has been designed in anticipation of using hydrogen in the future. In addition to manufacturing and delivering GreenDEC railcars, our company will expand after sales services by offering integrated support from status monitoring through to operational support and component sales, thereby further improving business profitability.
This is Page 46. Lastly, looking to the future changes to robots that will be brought by AI. This page explains the development of a robot powered by physical AI that has been built by our company. The left side of the slide shows a nursing collaborative robot, Nurabot, for which demonstration testing is currently underway at Taiwanese hospitals in partnership with Taiwan's Foxconn Group.
Next, at the center of the slide is the 4-legged robot, CORLEO. This is a new type of futuristic off-road mobility vehicle that had a major impact at the Osaka Expo. Development is accelerating toward the target of using CORLEO as an on-site mobility vehicle at Expo 2030 Riyadh in Saudi Arabia.
On the far right of the page is a humanoid robot, Kaleido. The 9th generation model of Kaleido was announced at the International Robot Exhibition held in December 2025. The latest model was developed for use in disaster zones and similar situations in order to utilize its robustness. In addition to these projects, our company has been receiving requests for joint developments from numerous companies.
As a comprehensive robot manufacturer covering everything from industrial robots to next-generation robots aiming to coexist alongside people, the expectations for our company continue to grow. Our company will continue to actively invest resources in the robot business as a growth domain and accelerate business growth.
Please refer to the supplementary information provided from Page 47 onwards.
This concludes the presentation. Thank you for your attention.
Kawasaki Heavy Industries — Q3 2026 Earnings Call
Kawasaki Heavy Industries — Q2 2026 Earnings Call
1. Management Discussion
My name is Yamamoto. Thank you for your participation. Allow me to present the financial highlights.
In our financial results for the second quarter of fiscal year 2025, our company achieved record revenue of JPY 996.2 billion, a year-on-year increase of JPY 112 billion. Business profit totaled JPY 35.7 billion, decreasing year-on-year due to factors such as an appreciation of the yen based on the weighted average exchange rate, as well as rising tariff costs. However, pretax income and profit both increased year-on-year, reflecting improved foreign exchange gains and losses.
Turning to the full year forecast for fiscal year 2025, the forecast for revenue has been revised upward by JPY 50 billion to a record JPY 2.34 trillion for reasons such as increased revenue in the Powersports and Engine segment. Although revenue has increased, business profit remains unchanged from the previous announcement due to the impact of tariffs and other factors. Progress toward profit in the first half of the fiscal year was 25%, falling short of the level in the previous year, but we expect no issues in terms of achieving the forecast, mostly because profit in the Aerospace Systems segment is concentrated more in the second half of the fiscal year than in previous fiscal years.
This concludes the summary. I will provide more details beginning on Page 5. Orders received in the second quarter of fiscal year 2025 amounted to JPY 1,015.4 billion, revenue amounted to JPY 996.2 billion. business profit was JPY 35.7 billion. Quarterly profit before tax was JPY 35.3 billion and quarterly profit attributable to owners of the parent was JPY 22 billion.
Despite the year-on-year decrease in business profit, there was an increase in quarterly profit before tax and net profit. The main reason for this included an improvement in foreign exchange gains and losses. As you can see, the weighted average exchange rate was approximately JPY 6.3 stronger than in the previous year, and U.S. dollar-based transactions amounted to approximately $1.14 billion.
Please see Page 6. This chart provides a breakdown of orders received, revenue, and business profit for each segment. As Point 1 shows, there was a strong performance from the energy business and the ship and offshore structure business in the Energy Solution and Marine Engineering segment.
In contrast, as Points 2 and 3 show, there was a major impact from the temporary decline in profitability due to increased shipments of newly manufactured commercial aircraft engines, as well as higher tariff costs and increased sales promotion expenses in the Powersports and Engine segment. Overall, business profit was JPY 35.7 billion, a year-on-year decrease of JPY 12 billion.
Page 7 shows the statement of profit and loss. Please see the chart for details. Please see Page 8, as Point 2 shows, gain and loss on foreign exchange moved sharply into positive territory due to depreciation in the value of the yen through to the end of the fiscal year. As a result, quarterly profit before tax increased to JYP 11.6 billion year-on-year to JPY 35.3 billion and profit attributable to owners of parent increased JPY 8.4 billion to JPY 22 billion.
This is Page 9. I will now explain the factors behind changes in business profit. The appreciation of the yen against the U.S. dollar compared to last year's exchange rate was a factor contributing to a decrease of JPY 16.3 billion in effects of FX rates. Regarding change in revenue, revenue increased in all segments and particularly revenue increase in the Powersports and Engine segment made a noticeable contribution.
Consequently, business profit increased JPY 28.2 billion, offsetting the negative impact of exchange rate fluctuations. Despite improvements in the Rolling Stock Energy Solution and Green Engineering and Precision Machinery and Robot segments, there was a deterioration of JPY 15.1 billion in change in product mix and other factors due to sharp declines in the Powersports and Engine and Aerospace Systems segments. Please refer to Page 10 for a detailed breakdown by segment.
Page 11 shows the statement of financial position. Concerning the factors contributing to changes in assets in the second quarter. As Point 2 shows, inventories followed an upward trend in the Powersports and Engine and the Aerospace Systems segment as a result of increasing revenue.
Please see Page 12. Factors that led to changes in liabilities and net assets are shown for your reference. The net debt-to-equity ratio was down significantly year-on-year at 82.7%.
Page 13 shows the cash flow statement. Details are shown in the materials. As explained under Point 1, cash flows from operating activities improved JPY 10.8 billion year-on-year as a result of increased quarterly profit before tax. As Point 2 shows, cash flows from financing activities reflect the change resulting from the transfer of a 20% stake of Kawasaki Motors Limited, a business subsidiary in Powersports and Engine to ITOCHU Corporation for JPY 80 billion.
Please see Page 14. For reference, we have provided a chart showing the cash flow trends over the 10 past years. This is Page 16. This shows the full year forecasts for fiscal year 2025. The forecast for orders received has been revised upward by JPY 300 billion from the previous announcement to JPY 2.53 trillion, reflecting an order indication in the project for the New York City transit, MTA. The forecast for revenue has been revised upward by JPY 50 billion from the previous announcement to JPY 2.34 trillion. However, the forecast for business profit was kept unchanged from the previous announcement. I will provide more details on the next page.
This is Page 17. Concerning the full year forecast for business profit, please refer to the changes in the forecasts since the beginning of year announcement.
Please see Page 18. This chart shows a breakdown of performance forecast by segment. Detailed explanations will be provided on the individual segment pages.
Page 21 is about Aerospace Systems. This slide shows the results for the second quarter of fiscal year 2025. Orders received and revenue both increased year-on-year due to increases in Ministry of Defense business and Boeing business. However, business profit dropped due to the impact of a stronger yen and decreased profitability resulting from a rise in newly manufactured commercial aircraft engines. The full year forecast for orders received in fiscal year 2025 was revised upward by JPY 30 billion compared with the previous announcement due to increased orders from the Ministry of Defense and Boeing. There were no significant change in either revenue or business profit, and these forecasts remain unchanged.
This is Page 22. for your reference, Page 22 provides the results of orders received in revenue in the Aerospace and Aero Engine businesses, including the number of aircraft component parts sold to Boeing and the number of aircraft engine component parts sold.
This is Page 23. This page shows the quarterly trends in revenue and business profit. Also provided for your reference, it gives an overview of past trends.
This is Page 24. It provides details of the business environment and order trends, as well as specific efforts, and there have been no changes from the previous announcement.
Page 25 is about Rolling Stock. This slide shows the results for the second quarter of fiscal year 2025. Concerning the full year forecast for fiscal year 2025, as explained earlier, and order indication has been received for an order of 378 railcars in the R268 project for New York City Transit MTA in the United States, and this is reflected in the forecast for orders received. There are no changes from the previous announcement in terms of either revenue or business profit.
This is Page 26. This page shows orders received in revenue in Japan, Asia and North America. For your reference, it also shows revenue in after-sales service, which we have focused on as a profitable business undertaking and the progress of the R211 project for New York City Transit, MTA.
For your reference, Page 27 shows quarterly trends in revenue and business profit. This is Page 28, under special efforts, we have added the R268 project for New York City Transit, MTA, which was included in the orders received planned in this announcement.
Page 29 is about Energy Solution and Marine Engineering. This slide shows the results for the second quarter of fiscal year 2025. Both revenue and business profit increased year-on-year due to higher revenues across various segments, including the energy and the ship and offshore structure. Concerning the full year forecast for the fiscal year 2025 and upward revision was made due to increased orders received for overseas LNG tanks, power generation equipment and marine machinery. An upward revision of JPY 10 billion was made to revenue due to increased orders for the Ministry of Defense, and business profit was revised upward by JPY 1 billion due to higher equity in earnings of affiliates and other factors.
This is Page 30. This page provides a breakdown of orders received in revenue for the energy, plant and marine machinery business and to ship and offshore structure business.
This is Page 31. This page shows quarterly trends in revenue and business profit for your reference. This is Page 32. Looking at specific efforts, the key role in this segment is played by products and services that contribute to realizing a low carbon or decarbonized society. We have shown in order received to supply LNG tanks to Taiwan. For your reference, we have included an example of a solution for a decarbonized society, the installation of a demonstration facility for newly developed low-concentration carbon dioxide separation and capture technology.
Page 33 is about the Precision Machinery and Robot segment. This slide shows the results for the second quarter of fiscal year 2025. Year-on-year increases were recorded for orders received, revenue and business profit. There is no change to the full year forecast for fiscal year 2025 from the previous announcement.
This is Page 34. This page shows orders received and revenue for both the Precision Machinery business and the robot business, revenue from hydraulic machinery to the Chinese market and the breakdown of robot-related revenue by segment are also provided for your reference.
This is Page 35. This page shows quarterly trends in revenue and business profit for your reference. This is Page 36. Concerning the business environment, details of the recovery in demand in the construction machinery markets in China and Europe are shown for your reference. Page 37 is about Powersports and Engine. This slide shows the results for the second quarter of fiscal year 2025.
Looking at revenue, amid a weak market for both 2-wheelers and 4-wheelers by utilizing sales promotion expenses, we were able to expand market share and increase revenue in the first half of the fiscal year. Business profit decreased due to the yen's appreciation, increased fixed costs associated with production investment, higher sales promotion expenses and the impact of United States tariff policies. This shows the forecasts for fiscal year 2025.
Revenue has been revised upward to JPY 660 billion, an increase of JPY 40 billion from the previous announcement taking into account the growth in motorcycles for emerging markets and the market conditions in North America outperforming earlier expectations. We will achieve growth in business profit from the next fiscal year onwards by further increasing revenue and expanding market share. Meanwhile, the forecast for business profit remains unchanged from the previous announcement due to higher sales promotion expenses, rising tariff costs and other factors.
This is Page 38. Page 38 shows revenue from motorcycles for developed countries, motorcycles for emerging markets, 4-wheelers and PwC and general-purpose engines. We have also included regional wholesale volumes for motorcycles, 4-wheelers and PwC for your reference.
This is Page 39. This page shows quarterly trends in revenue and business profit for your reference. This is Page 40. Page 40 describes the business environment and the specific efforts in the Powersports and Engine business on the right-hand side of the slide for your reference, we have shown a project in which a hydrogen-powered motorcycle was showcased in a parade run during the Tour de France.
This is Page 42. Regarding shareholder returns, the annual dividend per share will be JPY 150, unchanged from the previous announcement. This is Page 43. Here, I would like to report on three project topics.
Firstly, please allow me to explain the liquefied hydrogen supply chain business, which our company is tackling as a core next-generation business. We have received subsidies under the NEDO Green Innovation Fund projects, and we are working on the liquefied hydrogen supply chain commercialization demonstration. The project's main base is at Ohgishima in Kawasaki City, where work has already started on building a pipeline to connect a liquefied hydrogen terminal.
The plan is to start laying the pipeline during fiscal year 2026. Construction of the terminal itself started in May 2025, and work is currently progressing steadily on building foundations for the storage tank. Furthermore, the construction of a commercial scale liquefied hydrogen carrier, which will play a key role in the demonstration project is expected to start construction soon. In this way, the company is making steady progress toward realization of a hydrogen society.
This is Page 44. On this page, I will explain our company's efforts to build partnerships in preparation for the commercial demonstration project explained earlier. Firstly, the left side of the slide shows the signing of the memorandum of understanding for cooperation to develop a Japan-Germany hydrogen supply chain that we concluded in September this year with Toyota Motor Corporation. The Kansai Electric Power Company, Daimler Truck Holding and Hamburger Hafen und Logistik.
The memorandum aims to promote the international utilization of hydrogen beyond national and industry borders and to build a hydrogen supply chain with high economic value by aligning Japanese and German demand. The center of the slide shows our company subsidiary, Japan Suiso Energy, JSE, signing a memorandum of understanding for cooperation to develop a Japan, Australia liquefied hydrogen supply chain with Woodside Energy, Australia's leading energy company and the Kansai Electric Power Company. The aim is to develop a supply chain for transporting liquefied hydrogen manufactured in Australia to receiving terminals in Japan using liquified hydrogen carriers.
Lastly, the right side of the slide shows a third-party share allotment by our company's subsidiary, JSE to six companies across various industrial sectors, which are listed on the slide. In this way, our company is making steady progress with global partners toward the realization of a hydrogen society.
This is Page 45. Lastly, please allow me to explain the current rollout of hydrogen-ready products in relation to hydrogen, amid the current trend of returning to LNG, the transition to hydrogen is now expected to take longer than originally forecast. However, it remains the case that responding to climate change is a globally shared goal in this environment and with a view to future hydrogen usage, there has recently been an increase in renewal and replacement projects for hydrogen co-firing facilities. Power generation capacity of planned projects alone accounts for more than 10x that of fiscal years 2023 and 2024.
One example of this is the operational launch of our company's hydrogen co-firing gas turbine generator at Nisshin OilliO’s Yokohama Isogo Complex. In this way, Kawasaki Heavy Industries will work to grow our business by actively expanding sales of hydrogen-ready products, even during the transition to realizing a hydrogen society. Please refer to the supplementary information provided from Page 46 onward.
This concludes the presentation. Thank you for your attention.
[Statements in English on this transcript were spoken by an interpreter present on the live call.]
Kawasaki Heavy Industries — Q2 2026 Earnings Call
Financial data from Kawasaki Heavy Industries
Revenue
Revenue is the sum of all sales generated by a company, e.g. for its products or services.
Revenue (TTM) metric explainedDirect Costs
Direct costs are the costs incurred directly in connection with the manufacture of the product or service.
Gross Profit
Gross Profit indicates how much of the revenue remains in the company after deducting direct production costs. If the percentage share of sales is calculated, this is referred to as the gross margin.
Gross Profit metric explainedSelling and Administrative Expenses
Selling, general and administrative expenses (SG&A) include all expenses for marketing and sales as well as the general administration of the company.
Research and Development Expense
Research and development costs (R&D) provide information on how much the company invests in the research and development of its products. The costs are particularly interesting as a percentage of revenue and in comparison to direct competitors.
EBITDA
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is the company's earnings before interest, taxes, depreciation and amortization. The EBITDA margin is calculated as a percentage of sales.
Depreciation and Amortization
Depreciation represents reductions in the value of the company's assets (e.g. due to wear and tear on machinery).
EBIT (Operating Income)
EBIT (Earnings Before Interest and Taxes) is the company's profit before interest and taxes, also known as the operating income. The EBIT Margin is calculated as a percentage of sales at
.
Net Profit
Net Profit represents the profit or loss after deduction of all costs.
Net Profit metric explainedStocksGuide Premium
| Jun '26 |
+/-
%
|
||
| Revenue | 2,366,403 2,366,403 |
9%
9%
100%
|
|
| - Direct Costs | 1,893,197 1,893,197 |
9%
9%
80%
|
|
| Gross Profit | 473,206 473,206 |
8%
8%
20%
|
|
| - Selling and Administrative Expenses | 335,633 335,633 |
8%
8%
14%
|
|
| - Research and Development Expense | - - |
-
-
|
|
| EBITDA | 240,840 240,840 |
9%
9%
10%
|
|
| - Depreciation and Amortization | 106,023 106,023 |
9%
9%
4%
|
|
| EBIT (Operating Income) EBIT | 134,817 134,817 |
9%
9%
6%
|
|
| Net Profit | 119,576 119,576 |
56%
56%
5%
|
|
In millions JPY.
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Kawasaki Heavy Industries Stock News
Company Profile
Kawasaki Heavy Industries, Ltd. engages in the manufacture of transportation equipment and industrial goods. It operates through the following segments: Ship and Offshore Structure, Rolling Stock, Aerospace, Gas Turbine and Machinery, Plant and Infrastructure, Motorcycle and Engine, Precision Machinery, and Others. The Ship and Offshore Structure segment builds and sells ships and other vessels. The Rolling Stock segment produces and sells railway vehicles and snow plows. The Aerospace segment manufactures and sells aircrafts. The Gas Turbine and Machinery segment manufactures and merchandises jet engines, general gas turbines, and prime movers. The Plant and Infrastructure segment covers industrial machinery, boilers, environmental equipment, steel structures, and crushers. The Motorcycle and Engine segment includes motorcycles, personal watercrafts, all-terrain vehicles, utility vehicles, and general purpose gasoline engines. The Precision Machinery segment manufactures and sells hydraulic equipment and industrial robots. The Other segment manages construction machinery production and sale, commercial activities, sales and order placement agency and mediation services, and welfare facilities administration. The company was founded by Shozo Kawasaki in April 1878 and is headquartered in Kobe, Japan.
StocksGuide Premium
| Head office | Japan |
| CEO | Mr. Hashimoto |
| Employees | 40,640 |
| Founded | 1878 |
| Website | www.khi.co.jp |
