IHI Corporation

IHI Power Systems’ fuel-data falsification: engineering that deceived engineering (2024)

Key decision·2024· IHI Corporation — the full company history →

A numbers company, and trust in its own numbers

The weight of this misconduct lies, it seems, less in the size of the sums than in the fact that it had been handed down as a shop-floor practice for some forty years. That it was passed on by word of mouth, never documented, points less to an individual’s deviation than to the problem of an organizational air that had permitted making the numbers look better. President Ide’s words — that “a company built on technology has ended up deceiving technology itself” — can be seen to strike at the paradox that the prouder a company is of its technology, the more it is bound by the correctness of the numbers that underwrite it.

IHI is pressing its concentration on aero-engines and trying to grow defence and decarbonization into its next pillars. Yet in every one of these fields, no differently from marine engines, measured figures underpin contracts, safety and regulation. Alongside the strategic debate over where to concentrate its businesses, the question of how to govern the figures those businesses produce is once more thrust upon this company, which has now passed through misconduct twice. On a plane apart from the skill of its concentration, how to rebuild the trust it has lost has become, it seems, a heavy premise for the next reconstruction.

Revenue and net margin, FY2019–FY2026

Revenue in ¥ bn (bars) and net margin in % (line), for the years around the decision. Shaded columns are FY2024 onwards — after it was taken.

Source: securities reports

Read the full dossier in Japanese →

The Japanese edition carries the complete record of this decision — the situation that forced it, the options weighed, what actually followed, and the sources behind every claim.

Other key decisions at IHI Corporation


Yen amounts are converted at the average rate of each figure’s own year — not today’s rate; the revenue chart is shown in yen. Exchange rates & sources — the full ¥/US$ table →


Disclaimer

  • This page is provided for general information only and is not investment advice, nor a recommendation to buy or sell any security.
  • Figures are compiled independently and include our own estimates, approximations and machine-processed data; we make no warranty as to their accuracy or completeness.
  • Sources are primarily each company’s securities reports and other public filings, but errors and omissions may remain.
  • Any use of this information is at the reader’s own risk. Past performance does not indicate future results.
  • Company names, logos and other marks belong to their respective owners.

Data API

IHI Corporation’s history, financials, executives and shareholders are published as static JSON — no key, plain GET. Full specification →

Method Endpoint Returns
GET /api/companies.json All companies
GET /api/7013/manifest.json Resource index
GET /api/7013/history.json History overview
GET /api/7013/timeline.json Chronology
GET /api/decisions.json All management decisions (index)
GET /api/7013/decisions.json Management decisions (index)
GET /api/7013/decisions/{slug}.json One decision (full dossier)
GET /api/7013/executives.json Executives
GET /api/7013/shareholders.json Major shareholders
GET /api/7013/financials.json Financial statements
GET /api/7013/financials-longterm.json Long-term results
GET /api/7013/segments.json Business segments
GET /api/7013/regions.json Sales by region
GET /api/7013/workforce.json Workforce