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IHIIHI Corporation7013東証プライム機械FY ending Mar 2026, consolidated, IFRS

IHI FY ending Mar 2026 results

About 39% of IHI's sales come from Aero Engine, Space and Defense, with Industrial System and General-Purpose Machinery and Resources, Energy and Environment making up much of the rest.

Out of every ¥100 of sales, about ¥10 is left as operating profit.

Revenue changed +1.0% from the prior year, operating profit +15.3%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +1.0% · profit +15.3%, calculated from disclosed figures.

Operating leverage: 15.06× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+1.0%¥1.63T → ¥1.64T
Gross profit
+1.3%¥374.5B → ¥379.5B
Operating income
+15.3%¥143.5B → ¥165.5B
Net income attributable to owners
+42.8%¥112.7B → ¥161B
Operating cash flow
-31.7%¥177.6B → ¥121.4B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥1.64T, almost unchanged from ¥1.63T (+1.0%).
  • Profit grew much faster: operating income rose from ¥143.5B to ¥165.5B (+15.3%), and net income attributable to owners from ¥112.7B to ¥161B (+42.8%).
  • Operating cash flow fell from ¥177.6B to ¥121.4B (-31.7%).

What drove the change

  • Sales lost ground from divested businesses and the fading of large projects from the prior year, but growth in defense and commercial aircraft engines, plus stronger demand and better pricing for turbochargers, made up for it.
  • Operating income was lifted by better margins in nuclear, the absence of last year's turbocharger restructuring costs, and gains on selling the materials handling business and investment property. Higher engine maintenance costs, more R&D spending and weaker overseas energy projects held it back.
  • A weaker yen and higher equity-method income pushed net income up further.

Things to watch

  • Subsidiary IHI Aerospace was suspended from JAXA bidding after billing based on false reports, and compliance failures can lead to penalties and lost trust.
  • Middle East tensions, US-China friction and export controls could disrupt supply chains or cost sales.
  • Larger-than-expected currency swings can hit results through overseas contracts and purchasing.

Annual Securities Report, 209th term (Apr 2025 - Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 209th term (Apr 2025 - Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 IHI sells, how much goes where, and how much is kept.

FY ending Mar 2026
Cost of sales
¥77
SG&A
¥15
Other costs
¥2
Operating profit
¥10
Net profit kept
¥10

Annual margin trends

Gross margin23.1%
FY ending Mar 2021: 16.2%16.2%FY ending Mar 2022: 17.9%17.9%FY ending Mar 2023: 20.8%20.8%FY ending Mar 2024: 11.0%11.0%FY ending Mar 2025: 23.0%23.0%FY ending Mar 2026: 23.1%23.1%FY21FY22FY23FY24FY25FY26
Operating margin10.1%
FY ending Mar 2021: 2.5%2.5%FY ending Mar 2022: 6.9%6.9%FY ending Mar 2023: 6.1%6.1%FY ending Mar 2024: -5.3%-5.3%FY ending Mar 2025: 8.8%8.8%FY ending Mar 2026: 10.1%10.1%FY21FY22FY23FY24FY25FY26
Net margin9.8%
FY ending Mar 2021: 1.2%1.2%FY ending Mar 2022: 5.6%5.6%FY ending Mar 2023: 3.3%3.3%FY ending Mar 2024: -5.2%-5.2%FY ending Mar 2025: 6.9%6.9%FY ending Mar 2026: 9.8%9.8%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第209期(2025/04/01－2026/03/31)

    ID S100YENT2026-06-22Open

  • EDINET (FSA Japan)

    有価証券報告書－第208期(2024/04/01－2025/03/31)

    ID S100W1K12025-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第207期(2023/04/01－2024/03/31)

    ID S100TTMU2024-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第206期(2022/04/01－2023/03/31)

    ID S100R30V2023-06-23Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第205期(令和3年4月1日－令和4年3月31日)

    ID S100PIW12022-11-10Open

  • EDINET (FSA Japan)

    有価証券報告書－第204期(令和2年4月1日－令和3年3月31日)

    ID S100LPBU2021-06-24Open

Extracted from XBRL: 43

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