Komatsu H1 Profit Declines, Cuts FY Outlook - Quick Facts
(RTTNews) - Komatsu Ltd. (KMTUY.PK), a Japanese manufacturer of construction, mining, forestry, and military equipment, reported Wednesday that its first-half net income attributable to the company declined 28.2 percent to 90.06 billion Japanese yen from last year's 125.39 billion yen.
Operating income declined 29.1 percent to 141.9 billion yen from 200.31 billion yen a year ago. This was mainly due to reduced sales volume, and a change in the geographic composition of sales. The operating income ratio decreased by 3.5 percentage points to 11.7 percent.
For the first six-month period, consolidated net sales totaled 1.21 trillion yen, down 7.9 percent from 1.32 trillion yen in the corresponding period a year ago.
For fiscal year ending March 31, 2020, the company now expects attributable net income of 190.64 billion yen, down from previous view of 227.78 billion yen, and down from last year's 271.81 billion yen.
Operating income is now expected to be 279 billion yen, down from previous view of 337 billion yen, and down from last year's 397.81 billion yen.
The company now projects full-year net sales to be 2.47 trillion yen, compared to earlier expectation of 2.62 trillion yen, and down from last year's 2.73 trillion yen.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.