MCP use case · run on November 1, 2026

Aircraft parts stocks,
found across Japan's market.

Boeing and Airbus are struggling to raise output while sitting on huge order backlogs. So which Japanese companies make aircraft parts or materials a pillar of their revenue? Katana kept 220 companies whose annual reports mention aircraft, and AI read each one and supported 4.

Background

Neither Boeing nor Airbus can build planes as fast as they are ordered.

On October 27, Boeing said it is still stabilizing 737 MAX production at 47 a month and aims to reach 52 a month in the second half of 2027. It expects to miss its goal of delivering 500 737s in 2026.

Airbus targets about 870 deliveries in 2026, but delivered 351 in the first half, leaving the rest weighted to the second half. Engine supply is the bottleneck. It plans to raise the A320 family to 70–75 a month by the end of 2027.

At the end of June 2026, Airbus had a backlog of 9,230 aircraft and Boeing 7,468 (Japan Aircraft Development Corporation). Airbus's backlog alone is more than ten years of this year's delivery target.

It shows in Japanese companies' results. AeroEdge, which makes turbine blades for aircraft engines, supplied blades for 847 engines, 32.6% more than the year before. Hoden Seimitsu Kako Kenkyusho, which machines engine parts, saw demand for aircraft engine parts rise and posted record sales and operating profit.

01 / Input

The companies we wanted to find.

“We want companies that make parts, components or materials built into commercial aircraft or aircraft engines, and for which aircraft is a pillar of revenue, at least 20%.”

Claude built and ran the screen through Katana's MCP connection. We used word conditions to keep companies whose main annual report sections mention aircraft, aerospace, aircraft engines, commercial aviation, Boeing or Airbus, turned this profile into two questions entered in English, and had the AI read each report, question by question. Run and data as of November 1, 2026.

02 / Conditions

The conditions we applied across Japan.

Quantitative

Katana computes its metrics for every company.

Main sections of the annual report mention aircraft, aerospace, aircraft engines, commercial aviation, Boeing or Airbus (in Japanese)

Qualitative

AI reads each annual report and judges support and counterevidence.

Does the company manufacture and sell parts, components, or materials that are built into commercial aircraft or commercial aircraft engines (for example airframe structures, engine parts, landing gear, interiors, or titanium or carbon fiber materials for aircraft), or repair such aircraft parts, with actual sales reported? (Exclude aircraft leasing, airlines, sales or brokerage of aircraft, staffing or design services, machine tools, cutting tools, or test equipment sold to aircraft makers, parts for defense aircraft only, and plans, R&D, or prospects only.)
Do parts, components, or materials for commercial aircraft or aircraft engines account for at least 20% of the company's revenue, shown either by a reportable segment mainly serving aircraft that is at least 20% of revenue, or by the report stating that aircraft-related sales are at least 20% of revenue or are its largest or main business? (A segment that also includes non-aircraft products such as gas turbines, automotive parts, or defense equipment counts only if the report states that aircraft is the main part of that segment.)

The questions were entered in English and judged in order.

~3,800listed companies

220match the numbers

4AI judged as supported

Katana

read the filings and supported 4.

03 / Results

4 supported, each with aircraft as a pillar of revenue.

Of 220 companies, 4 were supported, 5 need review and 211 had counterevidence. They are listed as parts maker AeroEdge, materials maker Osaka Titanium, engine maker IHI, and Kawasaki Heavy Industries, which makes both airframe and engine parts.

AeroEdge7409 · Metal products

It machines and sells titanium aluminide low-pressure turbine blades for the LEAP engine used on the Airbus A320neo family and Boeing 737 MAX.Filing ↗Holds a contract to supply 40% of Safran's LEAP turbine blades; only two companies in the world supply them for LEAP. 97% of sales go to Safran. Engines fitted with its blades rose 32.6%, and its operating margin is 22.5%.
OSAKA Titanium technologies5726 · Nonferrous metals

Engine maintenance demand stayed firm as more commercial aircraft flew, but inventory adjustment in the supply chain held export sales to a 1.5% rise.Filing ↗Makes titanium sponge, the raw material for airframes and engines. Titanium is 86% of revenue, and its report itself calls the company dependent on the aircraft industry. Last year, domestic sales for general industry fell 42.8%, and operating profit fell 45%.
IHI7013 · Machinery

In its core aerospace and defense business, aftermarket sales of commercial aircraft engines are growing as flying hours rise.Filing ↗Takes part in international commercial engine programs. Sales to the Japanese Aero Engines Corporation are 20.2% of revenue (16.5% a year earlier). Aerospace and defense sales rose 17.3%.
Kawasaki Heavy Industries7012 · Transportation equipment

Aerospace sales rose ¥45.8 billion to ¥613.6 billion, led by work for the Ministry of Defense and shared production for commercial aircraft.Filing ↗Aerospace systems are 26.6% of revenue. It shares production of airframe and engine parts for commercial aircraft and also sells heavily to the Ministry of Defense (18.6% of company revenue). Aerospace sales rose 8.1%.

Note: the aviation businesses of IHI and Kawasaki Heavy Industries include defense. Both also sell heavily to commercial aviation; at IHI, sales to the Japanese Aero Engines Corporation, which runs its commercial engine programs, alone are 20.2% of revenue. Sakura Rubber, which needs review, groups its aircraft parts with industrial products in one segment (39.4% of revenue), and does not give the aircraft share alone.

04 / Takeaway

Of 15 companies whose reports say they sell aircraft parts, only 4 make them a pillar of revenue.

15 companies were supported on the first question, whether they actually sell parts or materials for commercial aircraft. For 11 of them, aircraft is under 20% of revenue, or it is mixed with other businesses and its share is unknown. They include materials leaders such as Teijin and Sumitomo Bakelite, ShinMaywa Industries, which builds rescue flying boats (its aircraft segment is 14.6% of revenue), and Hoden Seimitsu Kako Kenkyusho, whose engine parts work grew but sits in the same segment as gas turbines and defense.

For the remaining 4, we list how much of revenue comes from aircraft, and how sales grew in the latest year, for aircraft and for the whole company.

Company	Aircraft share	Aircraft sales	Company sales
AeroEdge	Safran 97%	+41%	+41%
Osaka Titanium	Titanium 86%	+1.5% (exports)	−9.6%
IHI	Engine consortium 20%	+17%	+1.0%
Kawasaki Heavy	Aerospace 27%	+8.1%	+8.5%

Growth is year on year for the latest fiscal year. Aircraft sales are AeroEdge's sales (parent company), Osaka Titanium's exports, which are mainly for aircraft, and the aviation divisions of IHI and Kawasaki Heavy Industries. None of the four saw aircraft sales shrink. For the whole company, IHI grew 1.0% and Osaka Titanium fell 9.6%: aircraft is making up for weakness elsewhere. Osaka Titanium's 45% fall in operating profit came largely from a 42.8% drop in domestic sales to general industry.

The bigger the pillar, the more directly aircraft swings show in results. At AeroEdge, engines fitted with its blades rose 33% and operating profit (parent company) rose 83%. At Osaka Titanium, inventory adjustment in a supply chain led by aircraft makers held exports to a 1.5% rise even as backlogs piled up.

Airbus's backlog alone is more than ten years of this year's delivery target. Even so, only 4 Japanese listed companies make aircraft a pillar of revenue; for the rest, aircraft is one part of a larger business. For better or worse, these 4 are the companies whose results swing with aircraft production and inventory.

05 / Deeper

AeroEdge keeps growing profit, yet its shares are down 60% from February's high.

Of the four, AeroEdge is where aircraft growth shows most in results. Below are its sales and operating profit. Through June 2025 the figures are for the parent company, June 2026 is consolidated, and June 2027 is the company's forecast.

For this year (to June 2027), the company forecasts sales up 56% to ¥7.95 billion and operating profit up 35% to ¥1.55 billion (earnings report of August 13). In June 2026 it bought Ono Plant, which makes airframe and defense parts, and its results are included from this year. Profit grows more slowly than sales because costs come first for mass-producing a new material and for new engine parts programs.

The shares closed at ¥1,156 on October 30, a PER of 30 times this year's forecast profit. That is 60% below the year's high of ¥2,840 set on February 25, and it hit a year low on October 26. Based on the share price at its fiscal year-end (end of June), the PER was 55 times.

The annual report also names weak points. 97% of sales go to Safran alone, and the blade material comes from a single European supplier. The company is phasing in supply of a new material it developed itself from this year, and signed a contract to raise its share of Safran's needs to the high 40s percent from 2028.

The shares did not fall because profit fell. Profit hit a record and is expected to rise again this year. What fell is the price the market puts on that profit.

Your stock-picking, handed straight to AI.

Katana narrows companies with its own metrics, and AI reads annual reports to judge qualitative conditions. For complex theses and company profiles, the selection you used to do one company at a time, AI now runs across the Japanese market.

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Aircraft parts stocks,found across Japan's market.