Komatsu Cuts Forecast as Profit Falls 28% on Asian Sales
This article is for subscribers only.
Komatsu Ltd., the world’s second-biggest maker of excavators and dump trucks, reported a 28 percent decline in third-quarter profit and cut its full-year earnings forecast as sales in Southeast Asia and China slumped.
Net income fell to 25 billion yen ($275 million) in the three months ended Dec. 31 from 34.7 billion yen a year ago, the Tokyo-based company said today in a statement. Tetsuji Ohashi will succeed Kunio Noji as chief executive officer, it said.