Kawasaki's Industrial (7012) Schizophrenia: How KHI Ditched the Cash Cow, Bet Billions on Hydrogen, and Pivoted from Ninja Bikes to Surgical Robots.

Kawasaki Heavy Industries is far more than a motorcycle maker—it’s a vast conglomerate spanning railways, submarines, aerospace, and robotics. During the pandemic, while its aerospace division suffered heavy losses, the motorcycle business provided crucial stability. After major setbacks in its U.S. rail operations, the company is rebuilding and now betting big on a national-scale hydrogen energy supply chain. Its “hinotori” surgical robot is rapidly expanding, but recent scandals in submarine repair and marine engine divisions exposed deep-rooted compliance issues. Kawasaki now stands at a crossroads, repairing its past while betting boldly on its future.

Founded in 1590, Sumitomo Metal Mining Co., Ltd. (SMM)—Japan’s second oldest listed company with over 430 years of history—continues to advance to the forefront of the electric vehicle (EV) and semiconductor industries.

Centering on its “Three Core Businesses: Mineral Resources, Smelting & Refining, and Materials,” SMM leverages the strengths of its vertically integrated RSM model to tackle technological challenges in battery materials and to solidify its position as a global leader in nickel for EV batteries.

On the financial side, the company maintains a sound and stable financial base, actively returns profits to shareholders, and adheres strictly to International Financial Reporting Standards (IFRS).

From a management perspective, SMM aims to realize its long-term vision for 2030, strengthen corporate governance, and remains firmly committed to sustainability initiatives, including the Sustainable Development Goals (SDGs) and the reduction of greenhouse gas (GHG) emissions.

In addition, SMM is actively acquiring and divesting overseas mining interests, achieving a record-high copper output at its Iyo (Toyo) Smelter & Refinery, and expanding its presence in the semiconductor materials sector through the acquisition of a silicon carbide (SiC) wafer development company.

© 2025 ⁠Brisk Lore Global Research（迅知国際研究）⁠

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