First Read: Kawasaki Heavy Industries "Nikkei report on KHI collaboration..."

研报英文原文证据摘录

First Read: Kawasaki Heavy Industries "Nikkei report on KHI collaboration..."

Global Research

22 May 2026ab

First Read

EquitiesKawasaki Heavy Industries

Nikkei report on KHI collaboration with Nvidia Japan

on AI development for robots Heavy Machinery

12-month rating Buy

12m price target ¥4,380

Nikkei report on collaboration with Nvidia on AI development

On 21 May, the Nikkei reported that Kawasaki Heavy Industries (KHI) will collaborate

with Nvidia on the development of physical AI for robots (link). At this stage, we have Price (21 May 2026) ¥2,844

not been able to verify the accuracy of this news report. According to the report, KHI RIC: 7012.T BBG: 7012 JP

plans to collaborate with Nvidia on AI development, beginning in the medical and

Trading data and key metrics

mobility fields, while also establishing a joint development base in San Jose, California

and advancing partnerships with Nvidia and tech firms. KHI has not made an official 52-wk range ¥3,675-1,744

announcement yet. Market cap. ¥2,387b/US$15.0b

Shares o/s 840m (ORD)

Expect growth in medical and quadruped robots Free float 92%

We believe this collaboration will have only a minor impact on short-term earnings, but Avg. daily volume ('000) 16,777

it should be positive for the share price given the potential for growth over very long Avg. daily value (m) ¥54,234.2

term. First, KHI is focusing on medical applications and the Corleo quadruped robot as Common s/h equity (03/27E) ¥973b

growth areas for robotics, and this collaboration could accelerate development and P/BV (03/27E) 2.4x

improve robot performance. In particular, Corleo has attracted strong interest from the Net debt to EBITDA (03/27E) 2.4x

equity market, and progress towards practical application could become a driver of

EPS (reported, basic) (¥)