Kawasaki Heavy Industries: Partnering on AI Adoption in Robot Business with US Semi Makers, Says Media Report

研报英文原文证据摘录

Kawasaki Heavy Industries: Partnering on AI Adoption in Robot Business with US Semi Makers, Says Media Report

Update

May 22, 2026 12:05 AM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MKawasaki Heavy Industries (7012) | Japan Takeshi Kitaura

Equity Analyst

Partnering on AI Adoption in Takeshi.Kitaura@morganstanleymufg.comMorgan Stanley Asia Limited+ +81 3 6836-5427

Lisa Jiang

Equity AnalystRobot Business with US Semi Lisa.Jiang1@morganstanley.com +852 2239-1282

Morgan Stanley MUFG Securities Co., Ltd.+Makers, Says Media Report Daisuke Horiuchi

Research Associate

KHI’s robot business is limited in scale, at 4% of total sales as of F3/26, but Daisuke.Horiuchi@morganstanleymufg.com +81 3 6836-5428

compared with major industrial robot manufacturers, it is developing a diverse array

of robot products, including robots for semiconductors, the hinotori surgical robot,

the FORRO medical transport robot, the Kaleido humanoid, and the CORLEO next-

generation quadruped mobility robot. The Nikkei (dated May 21) reported that KHI is

developing new solutions using Nvidia’s physical AI technology. It also reported that

Kawasaki Heavy Industries (7012.T, 7012 JT)

the company will open a joint development base in San Jose, California, where it

Heavy Industries | Japan

plans to collaborate with Analog Devices, Microsoft, and Fujitsu. If the report is

Stock Rating Equal-weight

accurate, we think this could lead to an acceleration in its AI robot development Industry View Attractive

Price target ¥3,150

efforts. None of the companies mentioned, including KHI, have issued any related Shr price, close (May 21, 2026) ¥2,844

press releases etc. on this matter. For F3/27, it factors a roughly ¥10bn YoY increase Mkt cap, curr, basic (bn) ¥2,376.6

Avg daily trading value (bn) ¥72.2