Hitachi Construction Machinery (HCM) has announced a decrease in its revenues for the first quarter of the fiscal year (1 April to 30 June), revealing a 9% fall to JPY 161.3 billion (US$ 1.53 billion).
The company said that, in Japan, demand for construction machinery decreased year-on-year, with revenues falling 3.3%, while in the Americas, revenue fell 24.2% year-on-year.
There were also decreases in Russia-CIS, Africa, and the Middle East (12.2%), China (17%), and Asia and Oceania (8.9%).
In Europe, however, revenues grew 7.4% year-on-year during the first quarter of the fiscal year, due to a demand in construction machinery.
HCM also recorded an operating profit of JPY 3.6 billion (US$ 34.74 million), which is a decrease of 25.9% from the same period a year ago.
HCM said that, in light of its results, it was working on the establishment of a global management support scheme, expansion of its market share, cost reduction for securing profit, and a business/structural reform to improve its business efficiency and infrastructure model.