2017Consolidated Business Results for Three Months of the Fiscal Year Ending March 31, 2018 (U.S. GAAP)
Jul. 28, 2017
Komatsu Ltd. today announced its consolidated business results for three months of the fiscal year ending March 31, 2018 (U.S. GAAP). The highlights are described below.
1. Results for Three Months Ended June 30, 2017
For the first three-month period (April 1 - June 30, 2017) of the fiscal year ending March 31, 2018, consolidated net sales totaled JPY561.2 billion, up 44.2% from the corresponding period a year ago. In the construction, mining and utility equipment business, sales expanded sharply from the corresponding period a year ago, supported by the steadfast capturing of demand in China, Indonesia and many other countries as well as the positive effects of adding Joy Global Inc. (currently, Komatsu Mining Corp.), a leading U.S. manufacturer of mining equipment, to consolidated accounting. Komatsu completed the acquisition of Joy Global Inc. in April this year. In the industrial machinery and others business, sales improved from the corresponding period a year ago, supported by increased sales of presses and machine tools to the automobile manufacturing industry, more than offsetting declined sales of wire saws.
With respect to profits, while Komatsu incurred temporary expenses related to the acquisition of Joy Global Inc., it expanded sales in many regions of the world. As a result, operating income advanced to JPY52.4 billion, registering an increase of 75.9 % from the corresponding period a year ago. The operating income ratio translated into 9.3 %, up 1.6 percentage points. Income before income taxes and equity in earnings of affiliated companies amounted to JPY48.0 billion, up 98.7 %. Net income attributable to Komatsu Ltd. totaled JPY36.3 billion, up 133.5 %.
2. Projections for the Fiscal Year Ending March 31, 2018 (FY2017)
Komatsu makes no change in the projection of April 27, 2017, concerning consolidated business results for the fiscal year ending March 31, 2018.
- The information described is at the time of presentation and may be subject to advance notice.