July 28, 2023
Komatsu Ltd. today announced its consolidated business results for three months of the fiscal year ending March 31, 2024 (U.S. GAAP). The highlights are described below.
1. Results for three months ended June 30, 2023
For the first three-month period (April 1- June 30, 2023) of the fiscal year ending March 31, 2024, the second year of the mid-term management plan, consolidated net sales totaled JPY 899.6 billion, an increase of 17.8% from the corresponding period a year ago. In the construction, mining and utility equipment business, while demand for construction equipment decreased, mainly in Latin America and Europe, it remained firm in North America. Demand for mining equipment was steady. Komatsu worked to make its supply chain highly resilient to changes in the external environment, especially by capitalizing on cross-sourcing and strengthening multi-sourcing, and steadily captured demand for new equipment. As a result, sales increased from the corresponding period a year ago, partly supported by expanded parts sales and service revenues which reflect high machine utilization, centering on mining equipment, improved selling prices in most regions of the world, and the Japanese yen’s depreciation. In the industrial machinery and others business, sales of presses, sheet-metal machines, and machine tools for the automobile manufacturing industry increased. As a result, sales increased from the corresponding period a year ago.
With respect to profits for the first three-month period under review, operating income increased by 57.1% from the corresponding period a year ago, to JPY 147.0 billion. This was supported by improved selling prices in most regions of the world and the Japanese yen’s depreciation, which more than offset the adverse effects of increased material prices and fixed costs. The operating income ratio increased by 4.1 percentage points to 16.3%. Income before income taxes and equity in earnings of affiliated companies increased by 31.7% to JPY 148.2 billion. Net income attributable to Komatsu Ltd. increased by 31.0% to JPY 105.4 billion.
2. Projections for the fiscal year ending March 31, 2024（FY2023）
Komatsu makes no change in the projection of April 28, 2023, concerning consolidated business results for the fiscal year ending March 31, 2024.
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Corporate Communications Department
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*The information may be subject to change without notice.