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IHI Unit Faces Bid Suspension at Japan's Space Agency Over False Billing

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IHI (TYO:7013) subsidiary IHI Aerospace received a five-month suspension from participating in the Japan Aerospace Exploration Agency's competitive bidding starting June 2, following the discovery of improper billing practices.

The subsidiary submitted false completion reports for unfinished maintenance work and parts procurement contracts, then claimed full payment based on those reports, according to a Tokyo bourse filing on Monday.

The misconduct, which affected 14 out of 438 contracts reviewed from April 2016 onwards, was first identified by IHI Aerospace itself and reported to JAXA in December 2025.

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