This transaction
This transaction (transfer of equity interests in Steinmüller Engineering GmbH)Provision of engineering (E), engineering and procurement (EP), and engineering, procurement and construction (EPC) services across four business areas: combustion and incineration, flue-gas treatment, heat exchange, and engineering and consulting
In connection with this transaction, approximately ¥14 billion is expected to be recorded as other expenses in the consolidated financial statements for the fiscal year ending March 2027. In addition, approximately ¥17 billion is expected to be recorded as an extraordinary loss in the standalone financial statements. There is no change to the full-year consolidated earnings forecast for the fiscal year ending March 2027.
| Item | Details |
|---|---|
| Transaction name | This transaction (transfer of equity interests in Steinmüller Engineering GmbH) |
| Counterparty name | mutares Holding 106 GmbH (parent company: Mutares SE & Co. KGaA) |
| Name of the Subject Company | Steinmüller Engineering GmbH |
| Business Description of the Subject Company | Provision of engineering (E), engineering and procurement (EP), and engineering, procurement and construction (EPC) services across four business areas: combustion and incineration, flue-gas treatment, heat exchange, and engineering and consulting |
| Location of the Subject Company | Gummersbach, Germany |
| Capital Stock of the Subject Company | EUR 3,000 thousand |
| Date of Establishment of the Subject Company | 3 April 2003 |
| Net Sales of the Subject Company | EUR 42,108 thousand (fiscal year ended March 2026) |
| Acquisition price | The transfer price will not be disclosed. It was determined through a fair process. |
| Voting rights ownership percentage | Before 100.0 → after 0.0 |
| Amount of extraordinary income (loss) | Approximately ¥14 billion is expected to be recorded as other expenses in the consolidated financial statements for the fiscal year ending March 2027. Approximately ¥17 billion is expected to be recorded as an extraordinary loss in the standalone financial statements. |
| Impact on Business Performance | In connection with this transaction, approximately ¥14 billion is expected to be recorded as other expenses in the consolidated financial statements for the fiscal year ending March 2027. In addition, approximately ¥17 billion is expected to be recorded as an extraordinary loss in the standalone financial statements. There is no change to the full-year consolidated earnings forecast for the fiscal year ending March 2027. |
| Date of board resolution | 28 September 2026 |
| Execution Date / Effective Date | Mid-October 2026 (scheduled) |
| Valuation methodology | Determined through a fair process (specific valuation method: Not disclosed) |
Items this document does not state (17)
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.Investment in thermal power generation-related projects in Europe has shifted from coal-fired power generation to decarbonisation and waste-to-energy generation, reducing business opportunities related to lignite-fired boilers. The company also cites increased project execution risks and intensifying competition in engineering services. Having determined that synergies with Mutares' portfolio and continued investment would enable the target company to strengthen its competitiveness and achieve sustainable growth, IHI will transfer the business as part of the structural reform of its overseas carbon solutions business.