2017Consolidated Business Results for Six Months of the Fiscal Year Ending March 31, 2018 (U.S. GAAP)
Oct. 27, 2017
Komatsu Ltd. today announced its consolidated business results for six months of the fiscal year ending March 31, 2018 (U.S. GAAP). The highlights are described below.
1. Results for Six Months Ended September 30, 2017
For the first six-month period (April 1 - September 30, 2017) of the fiscal year ending March 31, 2018, consolidated net sales totaled JPY1,158.9 billion, up 45.6% from the corresponding period a year ago. In the construction, mining and utility equipment business, the six-month sales expanded sharply from the corresponding period a year ago, as Komatsu steadfastly capitalized on demand in China, Indonesia and many other countries. Komatsu also benefited from the new addition of Joy Global Inc. (currently, Komatsu Mining Corp.), as a consolidated subsidiary, a leading U.S. manufacturer of mining equipment in which Komatsu completed the acquisition in April 2017. In the industrial machinery and others business, sales remained flat from the corresponding period a year ago, supported by increased sales of presses and machine tools to the automobile manufacturing industry, offsetting reduced sales of wire saws and other products.
With respect to profits for the first six-month period under review, operating income expanded by 75.6% from the corresponding period a year ago, to JPY112.6 billion, driven by increased sales in many regions of the world, more than offsetting temporary expenses incurred in relation to the acquisition of the former Joy Global Inc. The operating income ratio improved by 1.6 percentage points to 9.7%. Income before income taxes and equity in earnings of affiliated companies climbed to JPY 144.1 billion, up 148.1 % from the corresponding period a year ago, reflecting a gain from the sale of investment securities. Net income attributable to Komatsu Ltd. totaled JPY 101.7 billion, up 171.2%.
2. Projections for the Fiscal Year Ending March 31, 2018 (FY2017)
Komatsu makes change in the projection of April 27, 2017, concerning consolidated and non- consolidated business results for the fiscal year ending March 31, 2017.
For more information, please refer to the “Announcement Concerning the Revision of Projected Business Results and Cash Dividend” which is announced today.
“Announcement Concerning the Revision of Projected Business Results and Cash Dividend”
- The information described is at the time of presentation and may be subject to advance notice.