Industry map/Automotive & Machinery
Shipbuilding industry map
Who earns the money in Shipbuilding, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 16 companies · ¥2.06T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥2.06T
- Companies
- 16
- Avg. salary（parent only）
- ¥7M
- Industry weather
- Sunny
YoY +3.8%
Avg. age 41.8
Operating income +26.3%
Mitsubishi Heavy Industries[7011]
Plants and Infrastructure Systems
- Revenue
- ¥814.8B▲1.1%
- Operating income
- —
Whole company: Revenue ¥4.97T · Net income ¥332.1B
Avg. salary ¥10.7M · 42.3（parent only）
Japan Engine[6016]
- Revenue
- ¥29.7B▲2.9%
- Operating income
- ¥5.46B▲7.2%
Margin 18.4%
Avg. salary ¥7M · 41.2（parent only）
- Mitsubishi Heavy Industries owns 14.8%
- Namura Shipbuilding owns 10.0%
- Akasaka Diesels owns 2.7%
Kawasaki Heavy Industries[7012]
Energy Solution and Marine
- Revenue
- ¥433.6B▲8.9%
- Operating income
- —
Whole company: Revenue ¥2.31T · Net income ¥108.2B
Avg. salary ¥9.1M · 41.7（parent only）
Sumitomo Heavy Industries[6302]
Energy and Lifeline
- Revenue
- ¥177.6B▼2.4%
- Operating income
- ¥12.1B▲220.8%
Margin 6.8%
Whole company: Revenue ¥1.07T · Net income ¥30.9B
Avg. salary ¥8.6M · 43.5（parent only）
Mitsui E&S[7003]
Marine Propulsion Systems
- Revenue
- ¥149.7B▲10.5%
- Operating income
- ¥14.5B▲93.6%
Margin 9.7%
Whole company: Revenue ¥353.2B · Net income ¥38.5B
Avg. salary ¥8M · 40.2（parent only）
Namura Shipbuilding[7014]
Newly-built ship + 1 more
- Revenue
- ¥146.2B▲0.2%
- Operating income
- ¥30.2B▼3.2%
Margin 20.7%
Whole company: Revenue ¥159B · Net income ¥21.6B
Avg. salary ¥6.9M · 41.1（parent only）
Furuno Electric[6814]
Marine business
- Revenue
- ¥121.1B▲11.5%
- Operating income
- ¥16.8B▲25.7%
Margin 13.8%
Whole company: Revenue ¥140.6B · Net income ¥16.7B
Avg. salary ¥7.5M · 44.7（parent only）
Daihatsu Infinearth MFG.[6023]
Products for marine engines
- Revenue
- ¥71.8B▼1.5%
- Operating income
- ¥9.69B▲5.1%
Margin 13.5%
Whole company: Revenue ¥88.1B · Net income ¥5.92B
Avg. salary ¥7M · 40.3（parent only）
Naikai Zosen[7018]
Ship business
- Revenue
- ¥46.5B▲5.4%
- Operating income
- ¥4.26B▲71.9%
Margin 9.2%
Whole company: Revenue ¥47B · Net income ¥2.3B
Avg. salary ¥6.9M · 41.6（parent only）
Eagle Industry[6486]
Marine industry
- Revenue
- ¥19.5B▲7.9%
- Operating income
- ¥5.1B▼3.4%
Margin 26.2%
Whole company: Revenue ¥177.5B · Net income ¥9.83B
Avg. salary ¥9M · 41.8（parent only）
THE Hanshin Diesel Works[6018]
- Revenue
- ¥14B▲5.2%
- Operating income
- ¥824.1M▲34.7%
Margin 5.9%
Avg. salary ¥6.6M · 42.0（parent only）
Tokyo Keiki[7721]
Marine
- Revenue
- ¥13.7B▲9.1%
- Operating income
- ¥1.32B▼15.1%
Margin 9.6%
Whole company: Revenue ¥61.2B · Net income ¥4B
Avg. salary ¥6.9M · 43.0（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Akasaka Diesels · Nittan · Modec · Sansei
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Mitsubishi Heavy IndustriesPlants and Infrastructure Systems | ¥814.8B | 39.6% | — | +7.2% | ¥761.6B |
| 2 | Kawasaki Heavy IndustriesEnergy Solution and Marine | ¥433.6B | 21.1% | — | +9.9% | ¥22.3B |
| 3 | Sumitomo Heavy IndustriesEnergy and Lifeline | ¥177.6B | 8.6% | 6.8% | -3.5% | ¥11.3B |
| 4▲1 | Mitsui E&SMarine Propulsion Systems | ¥149.7B | 7.3% | 9.7% | — | ¥19.3B |
| 5▼1 | Namura ShipbuildingNewly-built ship + 1 more | ¥146.2B | 7.1% | 20.7% | +19.3% | ¥31.9B |
| 6 | Furuno ElectricMarine business | ¥121.1B | 5.9% | 13.8% | +14.5% | ¥16.5B |
| 7 | Daihatsu Infinearth MFG.Products for marine engines | ¥71.8B | 3.5% | 13.5% | +13.2% | -¥2.48B |
| 8 | Naikai ZosenShip business | ¥46.5B | 2.3% | 9.2% | +9.3% | ¥11.2B |
| 9 | Japan Engine | ¥29.7B | 1.4% | 18.4% | +22.6% | -¥297.3M |
| 10 | Eagle IndustryMarine industry | ¥19.5B | 0.9% | 26.2% | +13.7% | ¥13.3B |
| 11 | THE Hanshin Diesel Works | ¥14B | 0.7% | 5.9% | +8.5% | -¥190.2M |
| 12 | Tokyo KeikiMarine | ¥13.7B | 0.7% | 9.6% | +12.0% | -¥4.81B |
| 13 | Akasaka Diesels | ¥8.33B | 0.4% | -2.3% | +6.8% | -¥52.8M |
| 14▲1 | NittanVessel parts | ¥5.05B | 0.2% | 7.0% | +12.2% | ¥3.55B |
| 15▼1 | Modec | ¥4.58B | 0.2% | 9.6% | +4.1% | ¥236.7M |
| 16 | SanseiOcean business | ¥2.75B | 0.1% | 27.4% | +18.9% | -¥53.2M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- Namura Shipbuilding7718
- Japan Engine671518
- Sansei711415
- Furuno Electric583012
- Mitsui E&S80911
- Modec8810
- Mitsubishi Heavy Industries78139
- Daihatsu Infinearth MFG.76159
- Tokyo Keiki72199
- Eagle Industry74188
- Nittan82108
- Kawasaki Heavy Industries8014
- Naikai Zosen91
- THE Hanshin Diesel Works7915
- Sumitomo Heavy Industries7520
- Akasaka Diesels8418loss ¥2
Ownership links
From the major-shareholder section of annual securities reports.
- カナデビア株式会社Outside
- AffiliateNaikai Zosen39.4%
- ＮＯＫ株式会社Outside
- AffiliateEagle Industry32.0%
- 株式会社光通信Outside
- StakeSansei19.5%
- 株式会社商船三井Outside
- StakeModec15.0%
- 三井物産株式会社Outside
- StakeModec14.9%
- Mitsubishi Heavy IndustriesIn industry
- StakeJapan Engine14.8%
- Namura ShipbuildingIn industry
- StakeJapan Engine10.0%
- 日本製鉄株式会社Outside
- StakeNamura Shipbuilding5.4%
- 岩谷産業株式会社Outside
- StakeNittan4.5%
- 本田技研工業株式会社Outside
- StakeNittan4.3%
- 日本パーカライジング株式会社Outside
- StakeNittan3.8%
- Mitsui E&SIn industry
- StakeModec3.7%
- Japan EngineIn industry
- StakeAkasaka Dieselscross-held3.0%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
- Mitsubishi Heavy Industries vs Kawasaki Heavy Industries
- Mitsubishi Heavy Industries vs Mitsui E&S
- Mitsubishi Heavy Industries vs Namura Shipbuilding
- Kawasaki Heavy Industries vs Mitsui E&S
- Kawasaki Heavy Industries vs Namura Shipbuilding
- Mitsui E&S vs Namura Shipbuilding
- Mitsubishi Heavy Industries vs Kawasaki Heavy Industries vs Mitsui E&S vs Namura Shipbuilding
All companies in Shipbuilding (by revenue)
All 16 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Mitsubishi Heavy Industries¥814.8B
- Kawasaki Heavy Industries¥433.6B
- Sumitomo Heavy Industries¥177.6B · 6.8%
- Mitsui E&S¥149.7B · 9.7%
- Namura Shipbuilding¥146.2B · 20.7%
- Furuno Electric¥121.1B · 13.8%
- Daihatsu Infinearth MFG.¥71.8B · 13.5%
- Naikai Zosen¥46.5B · 9.2%
- Japan Engine¥29.7B · 18.4%
- Eagle Industry¥19.5B · 26.2%
- THE Hanshin Diesel Works¥14B · 5.9%
- Tokyo Keiki¥13.7B · 9.6%
- Akasaka Diesels¥8.33B · -2.3%
- Nittan¥5.05B · 7.0%
- Modec¥4.58B · 9.6%
- Sansei¥2.75B · 27.4%
Revenue · Op. margin
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