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Kawasaki posts fall in defence sales

01 February 2019
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Japan's second biggest defence contractor Kawasaki Heavy Industries (KHI) has posted a fall in earnings during the first nine months of fiscal year 2018-19, the company announced on 31 January.

KHI said its net sales during the period, which ended 31 December 2018, were JPY1.09 trillion (USD10 billion), comparable with the same period in 2017-18, but its operating income - or earnings before interest and taxes - declined 17% to JPY36.8 billion.

Although KHI is widely diversified, the company's main defence-related sectors - aerospace and shipbuilding - posted declines in revenues, consistent with performance figures in recent years.

Aerospace sales declined 5.5% to JPY328.1 billion and its earnings fell 20% to JPY21.2 billion.

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