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Komatsu fiscal Q3 profit falls YOY

Komatsu Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was ¥29.15 per share, a decrease of 17.5% from ¥35.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥27.52 billion, a decrease of 17.5% from ¥33.35 billion in the prior-year period.

The normalized profit margin declined to 6.4% from 7.0% in the year-earlier period.

Total revenue fell 9.9% on an annual basis to ¥430.60 billion from ¥478.02 billion, and total operating expenses decreased 8.2% from the prior-year period to ¥387.70 billion from ¥422.38 billion.

Reported net income fell 20.2% from the prior-year period to ¥30.82 billion, or ¥32.64 per share, from ¥38.64 billion, or ¥40.94 per share.

As of Feb. 13, US$1 was equivalent to ¥113.90.