Komatsu H1 Net Income Declines; Net Sales Down 21.1% - Quick Facts

(RTTNews) - Komatsu Ltd. (KMTUY.PK) reported that its first half net income attributable to Komatsu was 37.2 billion yen, down 58.6% from prior year. Earnings per share was 39.46 yen compared to 95.32 yen. Operating income declined by 57.5% to 60.3 billion yen. The company said this was mainly due to reduced sales volume, and a change in the geographic composition of sales in the construction, mining and utility equipment business.

For the first six-month period, net sales were 957.7 billion yen, down 21.1% from a year ago. In the construction, mining and utility equipment business, demand fell, as particularly affected by the COVID-19 pandemic.

For the fiscal year ending March 31, 2021, the company projects: net sales of 2.12 trillion yen; net income to Komatsu of 80.0 billion yen; and basic net income per basic share of 84.67 yen.

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