Japan · Delayed Price · Currency is JPY Komatsu Earnings Call Transcripts
Fiscal Year 2026
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Net sales hit a record high in FY2025, but operating and net income declined due to higher costs and tariffs. FY2026 guidance anticipates further profit declines amid ongoing tariff and Middle East risks, with robust shareholder returns maintained.
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Q3 FY2025 saw higher sales but lower profits due to FX and cost pressures. Retail finance and industrial machinery segments outperformed, while construction and mining faced margin declines. Full-year outlook is unchanged, with steady demand in North America and Europe but weakness in Asia and Japan.
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Net sales and profits declined year-on-year due to weak demand in Asia, especially Indonesia, and tariff impacts, though Industrial Machinery & Others showed strong growth. Full-year guidance was revised upward but still projects significant declines. Tariff mitigation and cost controls remain key focus areas.
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Q1 FY2025 saw declines in sales, operating income, and net income due to yen appreciation, lower mining equipment sales, and higher costs. Full-year guidance remains unchanged, with price increases planned for the second half and major new contracts secured in mining.
Fiscal Year 2025
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Record FY 2024 results with double-digit profit growth and strong shareholder returns were driven by favorable FX and segment performance. FY 2025 guidance anticipates declines due to yen appreciation and U.S. tariffs, but strategic investments and innovation remain priorities.
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Q3 and nine-month results set new records for sales and profits, driven by strong mining and industrial machinery segments, robust demand in Asia, and stable aftermarket sales. FY24 guidance is unchanged, with global demand expected to decline but China and Southeast Asia showing resilience.
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Q2 FY2024 saw record net sales but lower operating and net income due to cost and mix pressures. FY2024 guidance was raised for sales and profit, with mining and aftermarket segments showing strength, while North America and Europe face demand headwinds.
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Record Q1 sales and profits were driven by favorable FX and strong aftermarket growth, despite volume declines in construction equipment and cautious demand outlooks in key markets. Full-year guidance remains unchanged, with GHH acquisition expanding mining capabilities.