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Hitachi Zosen Corporation ( (JP:7004) ) just unveiled an announcement.
Kanadevia Corporation has resolved to withdraw from its bridge construction business and terminate operations at its Mukaishima Works in Hiroshima, bringing to an end more than 120 years of activity in steel bridge construction. The decision follows a prolonged contraction in Japan’s new bridge construction market since the mid-1990s, intensified competition and declining order volumes that made continued operation of the works uneconomical. Under its “Forward 25” medium-term plan, the company is reallocating resources through business selection and concentration, and the bridge segment, which accounted for 1.7% of consolidated sales in FY2024, will be wound down gradually: marketing for new projects ceases immediately, plant operations will end in fiscal 2026 after existing orders are processed, and full withdrawal from the bridge business is planned by fiscal 2030. Kanadevia intends to maintain employment for the roughly 239 workers in the bridge business, reassigning them in consultation with the labor union, and will continue inspections and monitoring related to previously disclosed inappropriate conduct at Mukaishima Works. Financially, the restructuring has already led to an impairment charge of ¥1.6 billion in the third quarter of the fiscal year ending March 31, 2026, signaling a non-trivial but contained hit as the company reshapes its portfolio and long-term positioning in the infrastructure manufacturing sector.
The most recent analyst rating on (JP:7004) stock is a Hold with a Yen1119.00 price target. To see the full list of analyst forecasts on Hitachi Zosen Corporation stock, see the JP:7004 Stock Forecast page.
More about Hitachi Zosen Corporation
Kanadevia Corporation, listed on the Tokyo Stock Exchange Prime Market, operates in heavy engineering and infrastructure-related manufacturing. Among its long-standing operations has been a bridge construction business focused on the design, manufacture, construction and maintenance of steel bridges in Japan and overseas, supported by its Mukaishima Works plant, which also produces other steel structures and foreign-substance separation equipment for food processing.
Average Trading Volume: 706,028
Technical Sentiment Signal: Strong Buy
Current Market Cap: Yen182.2B
Find detailed analytics on 7004 stock on TipRanks’ Stock Analysis page.