Komatsu today announced its consolidated business results for nine months of the fiscal year ending March 31, 2022 (U.S. GAAP).
For the nine-month period (April 1- December 31, 2021) of the fiscal year ending March 31, 2022, the final year of the mid-term management plan, consolidated net sales totaled JPY 2,014.6 billion, up 33.1 percent from the corresponding period a year ago.
In the construction, mining, and utility equipment business, demand for both construction and mining equipment was strong around the world, except for China, as the adverse effects of the Covid-19 pandemic shrank from the corresponding period a year ago.
Komatsu says it steadily captured expanding demand for new equipment by capitalizing particularly on cross-sourcing, while experiencing the adverse effects of the tight market of marine transportation and semiconductor shortage. Reflecting increased parts sales and service revenues as well, sales expanded sharply from the corresponding period a year ago.
In the industrial machinery and others business, with respect to the businesses of presses, sheet-metal machines, and machine tools, Komatsu improved sales from the corresponding period a year ago, by completing installation work of machinery at overseas customers’ plants, as the governments of related countries eased their regulations on economic activities. Moreover, sales of the Excimer laser-related business expanded, supported by an increase in global demand for semiconductors. As a result, sales advanced sharply from the corresponding period a year ago.
With respect to profits for the nine-month period under review, operating income surged by 108.1 percent from the corresponding period a year ago, to JPY 223.7 billion. This was mainly due to expanded sales volume and improved selling prices in many regions in the construction, mining, and utility equipment business, as well as the Japanese yen's depreciation, which more than offset the adverse effects of increased prices of materials and logistical costs. The operating income ratio improved by 4.0 percentage points to 11.1 percent. Income before income taxes and equity in earnings of affiliated companies expanded by 117.0 percent to JPY 224.3 billion. Net income attributable to Komatsu climbed to JPY 155.5 billion, up 135.7 percent.
Source: Komatsu Ltd.
