Komatsu saw first-quarter sales of about $5.8 billion, up 17.8 percent from the same period in 2022. The company’s fiscal year runs March to March.
In the construction, mining, and utility equipment business, demand for both construction and mining equipment expanded, especially in North America and Asia. Although supply chain disruptions continued to affect Komatsu’s production and sales, Komatsu captured expanding demand for new equipment by capitalizing particularly on cross-sourcing, it said.
Reflecting steady sales of mining equipment against the backdrop of growing commodity prices and the Japanese yen’s depreciation, sales advanced from the corresponding period a year ago.
Operating income grew 51.5 percent in the quarter compared to the corresponding period a year ago, to about $710 million. Coupled with the Japanese yen's depreciation, the increase of profits was mainly due to improved selling prices in many regions in the construction, mining, and utility equipment business, which more than offset the adverse effects of increased prices of materials and logistics costs.
Source: Komatsu
