Skip to content
Subscriber Only

Komatsu's Quarterly Profit Falls 19% as Mining Sales Slump

  • First-half demand in most major markets weaker than expected
  • Weakening of yen to partially offset shortfall in demand
Updated on

Komatsu Ltd., the world’s second-biggest manufacturer of construction and mining machinery, reported a 19 percent decline in second-quarter profit as China’s slowdown and the bust in commodity prices cut sales to miners and builders.

Net income fell to 32.6 billion yen ($271 million) for the three months to Sept. 30 from a revised 40.3 billion yen a year earlier, the Tokyo-based company said in a statement on Wednesday. Komatsu reiterated that full-year net income will probably fall 10 percent to 138 billion yen, while operating profit is likely to slip 8.7 percent to 221 billion yen.