TOKYO (dpa-AFX) - Komatsu Ltd. (KMTUY.PK), a Japanese manufacturer of construction, mining, forestry, and military equipment, reported Thursday that its first-quarter net income attributable to the company declined 65.8 percent to 16.25 billion Japanese yen from 47.48 billion yen last year.
Operating income declined 64 percent to 26.92 billion yen
Consolidated net sales totaled 458.73 billion yen, down 24.8 percent from 609.77 billion yen a year ago.
In the construction, mining and utility equipment business, demand fell, centering on North America, Europe and Asia, as particularly affected by the coronavirus or COVID-19 pandemic.
Looking ahead for the fiscal year ending March 31, 2021, the company projects attributable net income of 67 billion yen or 70.93 yen per share, operating income of 115 billion yen and net sales of 2.07 trillion yen. All results will be lower than the prior year.
Copyright RTT News/dpa-AFX