Latest Tokyo Brief coverage on Kawasaki Heavy Industries,Ltd., tracking filings, financial news, and market signals from Japan.
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Kawasaki Heavy now sees defence revenue of ¥700bn to ¥800bn in the 2030 fiscal year, up from ¥500bn to ¥700bn, within a plan for business profit above ¥330bn on revenue above ¥3.3tn.
Japan Engine Corporation's 6UEC35LSGH hit a hydrogen co-firing ratio above 95% and cut emissions by the same margin against heavy-oil engines in factory tests witnessed by ClassNK, but the engine still has to survive installation on a Mitsui O.S.K. Lines vessel and at-sea demonstration testing from April 2028 before it counts as proven.
Japan Engine Corporation's 6UEC35LSGH cut emissions by 95% or more against a heavy-fuel-oil engine in factory trials, but the real test, an April 2028 sea demonstration aboard a Mitsui O.S.K. Lines vessel, is still nearly two years off.
Kawasaki Heavy Industries has registered capacity to sell up to ¥80bn in corporate bonds over the next two years, but has not yet fixed the size, timing, or coupon of any single offering.
A weaker yen and an ¥8bn US tariff refund pushed Kawasaki Heavy's quarterly business profit up 74% to ¥35.8bn, and the industrial group followed with a ¥93.4bn share sale and two convertible bond issues to fund hydrogen supply chains and factory upgrades.
Kawasaki Heavy priced 37.35 million new shares at ¥2,609 each for ¥92.5bn net, earmarked by March 2029 for robotics-fitted plants making aircraft engines, gas turbines, semiconductor robots and hydrogen-carrier ships, alongside a separate ¥50bn zero-coupon convertible bond due 2031.
Kawasaki Heavy Industries has priced a ¥197.4bn stock and convertible bond sale, accepting conversion premiums up to 49.98% to fund robotics, physical AI and a liquefied hydrogen supply chain through the early 2030s.
About ¥92.7bn from the new-share leg is earmarked for factory investment through March 2029, as Kawasaki ties an overseas equity and convertible-bond sale to robotics, physical AI and a subsidised hydrogen build-out.
The move: Kawasaki Heavy will sell 37.35mn shares overseas for factory expansion and issue ¥101bn of euro-yen convertibles, including what it calls the first transition CB, for physical AI and a liquefied-hydrogen chain.
Kawasaki Heavy Industries has approved an overseas common-share offering and two euro-yen convertible bond tranches for foreign markets, but the filing excerpts leave the size and pricing terms unresolved.