Kawasaki Heavy Industries (KHI)


After failing to reach agreement on a merger of shipbuilding interests with IHI, Kawasaki established shipbuilding as a stand-alone division in 2002: the annual report for 2002 restated the divisional results for 2000 and 2001.  Effective April 1, 2003, the shipbuilding division was spun off as Kawasaki Shipbuilding Corporation.

Fiscal Year:

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
  mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY mm JPY
Kawasaki Heavy Industries
Net Sales 1,086,200 1,224,300 1,297,200 1,202,200 1,149,700 1,060,500 1,144,500 1,239,600 1,160,300 1,241,600 1,322,500 1,439,000
Operating Margin 46,800 62,200 51,100 21,700 1,300 4,500 31,300 30,500 22,200 24,700 41,800 69,100
Operating Margin (%) 4.3% 5.1% 3.9% 1.8% 0.1% 0.4% 2.7% 2.5% 1.9% 2.0% 3.2% 4.8%
Net Income 16,500 22,600 18,600 (6,100) (18,600) (10,300) 6,300 13,000 6,300 11,500 16,500 29,800
Net Income (%) 1.5% 1.8% 1.4% (0.5%) (1.6%) (1.0%) 0.6% 1.0% 0.5% 0.9% 1.2% 2.1%
Total Assets 1,252,400 1,303,200 1,222,900 1,204,900 1,206,800 1,247,500 1,255,100 1,149,200 1,156,900 1,194,500 1,284,100 1,358,000
Stockholders' Equity 163,000 197,200 209,000 199,600 175,000 164,100 167,700 174,600 190,200 201,500 237,600 295,400
Property, Plant and Equipment 231,600 243,200 242,400 244,900 245,300 241,900 241,500 234,400 248,900 243,200 246,200 253,800
Depreciation 30,800 31,200 32,400 34,600 35,100 33,300 32,000 31,600 32,600 31,600 30,600 30,300
Capital Expenditure 39,300 35,100 42,900 40,400 37,500 33,000 31,400 35,200 41,500 29,700 41,700 39,300
Employees 24,401 24,211 26,102 26,486 29,772 29,162 28,935 28,682 29,306 28,682 28,922  
Net Sales/Employee 44,515 50,568 49,697 45,390 38,617 36,366 39,554 43,219 39,592 43,288 45,726  
Kawasaki Transportation Equipment Division

Kawasaki Shipbuilding Division

Net Sales 342,200 412,600 477,800 461,000 93,200 79,800 93,800 107,000 95,900 88,200 111,100 110,700
Operating Margin (2,900) 15,600 10,900 500 (7,700) (1,700) 5,500 1,400 (2,400) 1,000 (1,700) (2,200)
Operating Margin (%) (0.8%) 3.8% 2.3% 0.1% (8.3%) (2.1%) 5.9% 1.3% (2.5%) 1.1% (1.5%) (2.0%)
Total Assets 309,700 360,900 362,200 369,700 87,000 98,500 88,700 95,700 89,800 101,000 105,200 117,800
Depreciation 11,900 12,100 12,300 13,600 2,200 2,100 1,900 2,000 2,400