Worth reading
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How definitive the wording is.Items stated in the management plan
Annual updateTotal investment planMedium-sized gas turbines: approximately ¥40 billion; small gas turbines: approximately ¥20 billion; gas engines: approximately ¥17 billion
Investment amount by sectorField Expansion of medium-sized gas turbine production capacity / Amount Approximately ¥40 billion / Period 2025–2040, Field Expansion of small gas turbine production capacity / Amount Approximately ¥20.0 billion / Period 2025–2040, Field Expansion of gas engine production capacity / Amount Approximately ¥17.0 billion / Period 2025–2034
Key initiatives
01Company-wide priority investment policy
02The company’s target markets
03Expansion of gas turbine production capacity
04Expand production capacity to approximately 10 times its current level through active investment and actively enter overseas data center projects
05Initiatives supporting the achievement of carbon neutrality
06Support the implementation of hydrogen in society through public-private partnerships
07Developments with countries toward building an international hydrogen supply chain
08Progress toward commercializing the CO2 capture business
Plan assumptionsGrowing global electricity demand driven by the expansion of AI and data centers, the progress of electrification and economic development, among other factors, Under the IEA’s STEPS, natural gas supply is expected to remain flat in 2040, while under the CPS it is expected to increase successively, The transition period toward carbon neutrality is becoming prolonged
Segment targetSegment Energy and environmental solutions / Target Cumulative business scale of ¥8 trillion in fiscal 2040; hydrogen-related business scale of ¥500 billion, Segment CO2 capture / Target Revenue of ¥25 billion in 2035 and ¥70 billion in 2040, Segment Gas Turbines / Target Expand business profit from medium-sized and small gas turbines to approximately 4 times and 2.3 times their current levels, respectively, Segment Gas engine / Target Expand production capacity to approximately 10 times its current level
Size of the Target MarketMarket Industrial gas turbine market / Figures 2025: 6.4; 2026: 7.2; 2030: 10.4; 2035: 15.5 / Growth rate Approximately 9% CAGR / Source Industrial Gas Turbine Market Size and Share Report 2026–2035, Market Global electricity demand / Figures Not disclosed / Growth rate Not disclosed / Source International Energy Agency『World Energy Outlook2025』
Risks identified by the company
Challenges to stable energy supplies against a backdrop of geopolitical risks and other factors
Climate Change and Environmental Issues
Increasing complexity of the energy environment, including a return to natural gas
| Item | Details |
|---|---|
| Plan name | Group Vision 2030 |
| Progress against the plan | Annual update |
| Total investment plan | Medium-sized gas turbines: approximately ¥40 billion; small gas turbines: approximately ¥20 billion; gas engines: approximately ¥17 billion |
| Investment amount by sector | Field Expansion of medium-sized gas turbine production capacity / Amount Approximately ¥40 billion / Period 2025–2040, Field Expansion of small gas turbine production capacity / Amount Approximately ¥20.0 billion / Period 2025–2040, Field Expansion of gas engine production capacity / Amount Approximately ¥17.0 billion / Period 2025–2034 |
| Segment target | Segment Energy and environmental solutions / Target Cumulative business scale of ¥8 trillion in fiscal 2040; hydrogen-related business scale of ¥500 billion, Segment CO2 capture / Target Revenue of ¥25 billion in 2035 and ¥70 billion in 2040, Segment Gas Turbines / Target Expand business profit from medium-sized and small gas turbines to approximately 4 times and 2.3 times their current levels, respectively, Segment Gas engine / Target Expand production capacity to approximately 10 times its current level |
| Plan assumptions | Growing global electricity demand driven by the expansion of AI and data centers, the progress of electrification and economic development, among other factors, Under the IEA’s STEPS, natural gas supply is expected to remain flat in 2040, while under the CPS it is expected to increase successively, The transition period toward carbon neutrality is becoming prolonged |
| Key initiatives | Company-wide priority investment policy, The company’s target markets, Expansion of gas turbine production capacity, Expand production capacity to approximately 10 times its current level through active investment and actively enter overseas data center projects, Initiatives supporting the achievement of carbon neutrality, Support the implementation of hydrogen in society through public-private partnerships, Developments with countries toward building an international hydrogen supply chain, Progress toward commercializing the CO2 capture business |
| Size of the Target Market | Market Industrial gas turbine market / Figures 2025: 6.4; 2026: 7.2; 2030: 10.4; 2035: 15.5 / Growth rate Approximately 9% CAGR / Source Industrial Gas Turbine Market Size and Share Report 2026–2035, Market Global electricity demand / Figures Not disclosed / Growth rate Not disclosed / Source International Energy Agency『World Energy Outlook2025』 |
| Risks identified | Challenges to stable energy supplies against a backdrop of geopolitical risks and other factors, Climate Change and Environmental Issues, Increasing complexity of the energy environment, including a return to natural gas |
Items this document does not state (16)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceNon-financial targetsResults under the previous planReason for revision or withdrawalDate of board resolutionPublication date
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company cited the expansion of AI and data centers, the progress of electrification, rising electricity demand resulting from economic development, challenges to stable energy supplies against a backdrop of geopolitical risks, and responses to climate change and environmental issues.
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