IHI is listed on the Tokyo Stock Exchange Section 1. Following the reporting of a company whistleblower in February 2024, on April 24, 2024, the company announced that investigation was underway by the Ministry of Land, Infrastructure, Transport and Tourism of its subsidiary, IHI Power Systems Co., which had falsified its engine data since 2003, affecting over 4,000 engines worldwide.
History
1853 – establishment of Ishikawajima Shipyard by the Mito Domain under order from the Edo Shogunate, who faced the Perry Expedition and the subsequent pressure to compete with the Great Powers, in Ishikawajima, Chuo district of Tokyo.
1889 – incorporation of Ishikawajima Shipyard as Ishikawajima Shipbuilding & Engineering Co., Ltd.
1907 – establishment of Harima Dock Co., Ltd.
1929 – spinoff of Harima's automobile section as Ishikawajima Automotive Works (later Isuzu through a series of mergers)
1960 – establishment of Ishikawajima-Harima Heavy Industries Co., Ltd. through a merger of Ishikawajima and Harima
1995 – IHI and Sumitomo Heavy Industries merged a warship business and established Marine United Ltd. The Uraga Dock Company was the origin in the shipbuilding of Sumitomo Heavy Industries. It was made by Enomoto Takeaki. However, Sumitomo Heavy Industries moved Uraga Dock to Yokosuka in 2003. IHI moved a shipbuilding section to Marine United in 2002 and changed its name to IHI Marine United Ltd. IHI Marine United became the subsidiary of IHI in 2006.
2000 – purchased Nissan Motor's Aerospace and Defense Divisions and established IHI Aerospace Co., Ltd.
2013 – established Japan Marine United Corporation, merging its ship building unit, Marine United Inc., with Universal Shipbuilding Corp. of JFE Holdings after discussion started in April 2008[3]
2016 – sold all shares of wholly owned IHI Construction Machinery Limited to Kato Works Company Limited.[4]
2018 – IHI halts manufacturing nuclear reactor parts to focus on aircraft parts,[5] leaving Japan Steel Works as the sole Japanese supplier of reactor parts.
2024 – Subsequent to the February report of a company whistleblower;[6] on April 24, IHI Corp. announced that its subsidiary, IHI Power Systems Co., had been falsifying fuel consumption and efficiency data of engines used in ships and trains since 2003, affecting 4,361 engines. Investigation by the Ministry of Land, Infrastructure, Transport and Tourism ensued.[7]
BT-4 liquid-fuelled apogee motor (used in the Cygnus vehicle which are launched on Atlas V and Antares rockets)
Ships
Shipbuilding was the founding activity of Ishikawajima in 1853. It remains part of IHI's business activities, although it has been diluted through several mergers with other Japanese shipbuilding companies.[14]
In 1960, Ishikawajima Heavy Industries merged with Harima Shipbuilding & Engineering Company to establish the Ishikawajima-Harima Heavy Industries (IHI).
In 1995, Marine United was established jointly with Sumitomo Heavy Industries.
In 2013, IHI Marine United was merged with Universal Shipbuilding Corporation owned by the steel company JFE Holdings in order to newly establish a larger firm, Japan Marine United Corporation (JMU), of which IHI remained a shareholder.
In March 2020, Japan Marine United (with 49% of shares) agreed to merge with Imabari Shipbuilding (with 51% of shares) into a joint venture named Nihon Shipyard (NSY), covering all ship types except Liquefied natural gas (LNG) tankers.[15] This agreement became effective in January 2021.
In parallel with the creation of Nihon Shipyard, Imabari Shipbuilding bought 30% of JMU's shares, while IHI and JFE Holdings each kept 35% of JMU's capital.
The merger between these two Japanese companies resulted in Nihon Shipyard becoming one of the largest marine-engineering and shipbuilding companies in the world, of which IHI remains a shareholder.
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