Komatsu increases forecasts
By Chris Sleight13 July 2010
Komatsu has raised its sales and profits forecast for the current fiscal year (ending march 31, 2011) due to better than expected demand in several key emerging markets.
The company now expects sales for the year to hit JPY 1.72 trillion (US$ 19.4 billion), a +3.3% increase on the previous forecast of JPY 1.66 trillion (US$ 18.7 billion).
Operating profits for the year are expected to be some +14% higher than previously forecast at JPY 179 billion (US$ 2.02 billion), as opposed to the previous figure of JPY 157 billion (US$ 1.77 billion).
Commenting on the increased forecast, a company statement said, "In the first half period, demand for construction and mining equipment has been growing more than projected in Asia and Latin America.
"Furthermore, demand in North America and Japan has been improving over the corresponding period a year ago."