Komatsu : Consolidated Business Results for Six Months of the Fiscal Year Ended March 31, 2021 (U.S. GAAP)
October 28, 2020 at 03:10 am EDT
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Oct. 28, 2020
Komatsu Ltd. today announced its consolidated business results for six months of the fiscal year ending March 31, 2021 (U.S. GAAP). The highlights are described below.
1. Results for Six Months Ended September 30, 2020
For the first six-month period (April 1- September 30, 2020) of the fiscal year ending March 31, 2021, the second year of the mid-term management plan, consolidated net sales totaled JPY 957.7 billion, down 21.1% from the corresponding period a year ago. In the construction, mining and utility equipment business, demand fell, centering on North America, Europe & CIS and Asia, as particularly affected by the coronavirus (COVID-19) pandemic. As a result, sales declined from the corresponding period a year ago. In the industrial machinery and others business, demand for presses, sheet-metal machines, and machine tools remained slack against the coronavirus (COVID-19) pandemic. As a result, sales fell from the corresponding period a year ago.
With respect to profits for the first six-month period under review, operating income dropped by 57.5% from the corresponding period a year ago, to JPY 60.3 billion. 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, while Komatsu worked to reduce fixed costs. The operating income ratio decreased by 5.4 percentage points to 6.3%. Income before income taxes and equity in earnings of affiliated companies fell by 54.3% to JPY 58.5 billion. Net income attributable to Komatsu Ltd. totaled JPY 37.2 billion, down 58.6%.
2. Projections for the Fiscal Year Ending March 31, 2021 (FY2020)
Komatsu makes change in the projection of July 30, 2020, concerning consolidated business results for the fiscal year ending March 31, 2021.
For more information, please refer to the 'Announcement Concerning the Revision of Projected Business Results and Cash Dividend' which is announced today.
The information described is at the time of presentation and may be subject to advance notice.
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Komatsu Ltd. published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 07:09:08 UTC
Komatsu Ltd. specializes in manufacturing and marketing of construction and mining operating materials. Net sales break down by family of products as follows:
- construction and mining operating materials (91.3%): hydraulic excavators, backhoe loaders, wheel loaders, graders, crawler excavators, forklifts, tunneling, bulldozers, forest tractors, etc.;
- other (6.6%): primarily industrial machines (grinders, press brakes, temperature control equipments, etc.).
The remaining sales (2.1%) are from financing activities.
Net sales are distributed geographically as follows: Japan (13.9%), China (4.7%), Asia and Oceania (21.4%), Americas (37.5%), Europe and CIS (15.7%), Africa and Middle East (6.8%).
KOMATSU LTD. 
