Modec Inc - Company Profile
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Modec Inc (Modec) is a company that specializes in providing comprehensive services for the safe and continuous operation of floating offshore oil and gas production facilities. The company's main activities include engineering, procurement, construction, and installation (EPCI) of floating production storage and offloading (FPSO) units, as well as owning and operating these facilities. It's products and services also include SOFEC Mooring Solutions, which offers innovative mooring systems for offshore energy applications. Modec's customers are primarily oil and gas companies that require reliable offshore production solutions, and its products are used in various marine environments. The company collaborates with a global network of suppliers and contractors to deliver its services. Modec operates in multiple geographic locations, targeting markets worldwide with a focus on offshore oil and gas development. Modec is headquartered in Chuo-ku, Tokyo, Japan.
Headquarters
Japan
Address
Nihonbashi Maruzen Tokyu Building 4th & 5th Floors, 3-10, Nihonbashi 2-chome, Chuo-Ku, Tokyo, 103-0027
Website
www.modec.com
Telephone
81 3 52901200
No of Employees
5,962
Industry
Energy and Utilities
Ticker Symbol & Exchange
6269 (TYO)
Revenue (2024)
$4.2B
17.1%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
128.3%
(2024 vs 2023)
Market Cap*
$4.2B
Net Profit Margin (2024)
XYZ
94.8%
(2024 vs 2023)
* As of and is in US$
Modec Inc premium industry data and analytics
Products and Services
| Services | Brands |
|---|---|
| Floating Offshore Wind | Modec |
| Floating Production Solutions | |
| EPCI Project Execution | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Acquisitions/Mergers/Takeovers | In November, the company announced the merger of its wholly owned companies, MODEC America, Inc and SOFEC Inc |
| 2025 | Contracts/Agreements | In September, the company was awarded the full Engineering, Procurement, Construction, and Installation (EPCI) scope to develop a Floating Production Storage and Offloading (FPSO) vessel for the Hammerhead Project by ExxonMobil Guyana |
| 2025 | Regulatory Approval | In September, the company was awarded an Approval in Principle (AiP) from Bureau Veritas Marine & Offshore (BV) for a Floating Storage and Injection Unit LCO2 FSIU. |
Competitor Comparison
| Key Parameters | Modec Inc | Saipem SpA | McDermott International Ltd | SBM Offshore NV | BW Offshore Ltd |
|---|---|---|---|---|---|
| Headquarters | Japan | Italy | United States of America | Netherlands | Bermuda |
| City | Chuo-Ku | Milano | Houston | Schiphol | Hamilton |
| State/Province | Tokyo | - | Texas | Noord-Holland | - |
| No. of Employees | 5,962 | 30,160 | 30,000 | 6,417 | 1,216 |
| Entity Type | Public | Public | Private | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Hirohiko Miyata | Chief Executive Officer; Director; President | Executive Board | 2024 | 64 |
| Ryo Suzuki | Chief Financial Officer; Director | Executive Board | 2025 | 64 |
| Katsuyuki Imaizumi | Chief Executive Officer - MODEC Servicos de Petroleo do Brasil Ltda; Chief Operating Officer; Head - HSSE; Head - Lease & Operations; President - MODEC Serviços de Petróleo do Brasil Ltda; Senior Executive Managing Officer | Senior Management | 2023 | - |
| Soichi Ide | Chief Executive Officer - ODEC Offshore Production Systems (Singapore) Pte. Ltd; Chief Executive Officer - Offshore Frontier Solutions Pte. Ltd; Executive Managing Officer, Deputy Chief Operating Officer, Chief Digital Officer; Head - Floating Production Solutions; President - ODEC Offshore Production Systems (Singapore) Pte. Ltd; President - Offshore Frontier Solutions Pte. Ltd. (Singapore) | Senior Management | - | - |
| Mitsuru Sato | Executive Officer; Head - Corporate Planning & Strategies; Head - Procurement | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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