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IHI Corporation posts 2020 losses

by Jon Grevatt

IHI Corporation, Japan’s biggest manufacturer of aero-engines for defence and commercial platforms, has reported significant declines in revenue and profit for fiscal year (FY) 2020–21.

The corporation said on 13 May that its yearly sales decreased 12% to JPY1.11 trillion (USD10 billion) and that its operating profit declined 42% to JPY27.9 billion. IHI attributed the falls to the Covid-19-related downturn in the production and supply of engines for commercial aircraft.

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https://www.janes.com/defence-news/news-detail/ihi-corporation-posts-2020-losses_17602

IHI Corporation, Japan’s biggest manufacturer of aero-engines for defence and commercial platforms, ...

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