Komatsu Ltd. - Consolidated Business Results for Nine Months of the Fiscal Year Ending March 31, 2023
February 01, 2023 at 08:38 am EST
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Komatsu Ltd. today announced its consolidated business results for Nine months of the fiscal year ending March 31, 2023 (U.S. GAAP).
Results for Nine Months Ended December 31, 2022
For the nine-month period (April 1- December 31, 2022) of the fiscal year ending March 31, 2023, the first year of the mid-term management plan, consolidated net sales totaled JPY 2,539.2 billion, up 26.0% from the corresponding period a year ago. In the construction, mining and utility equipment business, demand for mining equipment expanded, centering on North America and Asia. Komatsu steadily captured demand for new equipment by capitalizing particularly on cross-sourcing. Komatsu also advanced parts sales and service revenues. Reflecting improved selling prices in almost all regions of the world and the Japanese yen's depreciation, sales increased from the corresponding period a year ago. In the industrial machinery and others business, sales of the Excimer laser-related business remained strong, supported by expanding demand for semiconductors worldwide. With respect to presses, sheet-metal machines, and machine tools for the automobile manufacturing industry, sales of large presses declined in particular. As a result, sales of this business decreased from the corresponding period a year ago.
With respect to profits for the nine-month period under review, operating income surged by 54.9% from the corresponding period a year ago, to JPY 346.6 billion, reflecting improved selling prices and the Japanese yen's depreciation, which more than offset the adverse effects of increased prices of materials and logistics costs. The operating income ratio improved by 2.5 percentage points to 13.6%. Income before income taxes and equity in earnings of affiliated companies expanded by 51.5% to JPY 339.8 billion. Net income attributable to Komatsu Ltd. climbed to JPY 231.9 billion, up 49.1%.
Projections for the Fiscal Year Ending March 31, 2023 (FY2022)
Komatsu makes no change in the projection of October 31, 2022, concerning consolidated business results for the fiscal year ending March 31, 2023.
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. 
