IHI Corporation Reports Mixed Earnings Amid Strategic Shifts
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IHI Corporation reported mixed Q2 earnings, with a 5.8% decline in revenue to ¥713.6 billion and a 10.1% drop in operating profit to ¥69.4 billion. However, profit attributable to owners rose 42.2% to ¥55.9 billion due to improved foreign exchange losses. The company is shifting its business focus, increasing orders by 17.5% to ¥893.4 billion, and plans to enhance production in aero engines and defense. IHI is optimistic about future growth and is investing in clean energy initiatives while revising its full-year forecast for slight revenue growth and significant profit increase.
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