Blade sales for LEAP enter a phase in which the FY2027 plan for 1,084 units will be tested in Q1

In FY2026, the number of engines equipped with titanium-aluminide blades reached 847, an increase of 32.6% year on year. For FY2027, 1,084 engines, up 28.0% year on year, are expected, with the plan assuming continued high growth in volume. The full-year earnings forecast also calls for revenue of ¥7.95 billion, operating profit of ¥1.55 billion and net income attributable to owners of the parent of ¥960 million, compared with FY2026 revenue of ¥5.084 billion and operating profit of ¥1.145 billion.

Underlying demand is a substantial backlog of aircraft using LEAP engines. As of FY2026, the backlog stood at 7,469 A320neo-family aircraft, 5,404 737 MAX aircraft and 931 C919 aircraft. Continued production increases by aircraft manufacturers would support the sales base for the company’s core blades. At the same time, the FY2027 assumptions call for A320neo production of 70–75 aircraft per month and 737 MAX production to rise from 42–47 aircraft per month toward 52 aircraft per month in the future. It will be important to determine whether aircraft manufacturers’ production rates, supply-chain constraints and delays in engine deliveries are reflected in actual sales volumes.

The FY2027 revenue forecast is up 56.4% year on year, well above the 28.0% increase in blade volume. This difference is believed to include new aircraft-engine components, the consolidation of オノプラント and expanded supply of new-material products, but no disclosure breaks revenue down into volume, unit price, new projects and acquisition effects. In FY2027 Q1, in addition to the number of equipped engines, revenue and operating profit, it will be necessary to confirm the amount of revenue generated outside the core blades and assess the substance of the revenue increase, rather than volume plans alone.