After the American invasion of Iwo Jima in February 1945, "I-58" and "I-36" joined the "Shimbu" group formed to counterattack American forces. She departed Kure on 1 March carrying four Kaiten. On the 7th the operation was cancelled, and two days later she was redirected to the area west of Okinotorishima to support Operation Tan No. 2, an air attack on the anchorage at Ulithi. The submarine jettisoned two Kaiten and proceeded at full speed. On 11 March "I-58" was stationed off Okinotorishima to act as a radio relay ship for 24 Yokosuka P1Y "Frances" twin-engined kamikaze bombers. Only six aircraft reached Ulithi, and one crashed into the aircraft carrier .