Jan. 29, 2021
Komatsu Ltd. today announced its consolidated business results for nine months of the fiscal year ending March 31, 2021 (U.S. GAAP). The highlights are described below.
1. Results for Nine Months Ended December 31, 2020
For the nine-month period (April 1- December 31, 2020) of the fiscal year ending March 31, 2021, the second year of the mid-term management plan, consolidated net sales totaled JPY 1,513.3 billion, down 17.2% from the corresponding period a year ago. In the construction, mining and utility equipment business, although demand showed steady recovery, centering on construction equipment, it remained sluggish for mining equipment in coal mines and was adversely affected by the coronavirus (COVID-19) pandemic. As a result, sales declined from the corresponding period a year ago. In the industrial machinery and others business, demand for presses, sheet-metal machines, and machine tools was slack as affected by the coronavirus (COVID-19) pandemic. As a result, sales fell from the corresponding period a year ago.
With respect to profits for the nine-month period under review, operating income dropped by 48.3% from the corresponding period a year ago, to JPY 107.5 billion. This was mainly due to reduced sales volume, and changes in the compositions of sales in the construction, mining and utility equipment business, as well as the Japanese yen’s appreciation, even while Komatsu worked to reduce fixed costs. The operating income ratio decreased by 4.3 percentage points to 7.1%. Income before income taxes and equity in earnings of affiliated companies fell by 45.6% to JPY 103.3 billion. Net income attributable to Komatsu Ltd. totaled JPY 65.9 billion, down 51.2%.
2. Projections for the Fiscal Year Ending March 31, 2021 (FY2020)
Komatsu makes no change in the projection of October 28, 2020, concerning consolidated business results for the fiscal year ending March 31, 2021.
No : 0077(3008)
Corporate Communications Department
Sustainability Promotion Division
Komatsu Ltd.
tel: +81-(0)3-5561-2616
mail: JP00mb_cc_department@global.komatsu
*The information described is at the time of presentation and may be subject to advance notice.
