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Komatsu fiscal Q2 profit climbs 58.5% YOY

Komatsu Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥34.94 per share, a gain of 58.4% from ¥22.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.00 billion, an increase of 58.5% from ¥20.82 billion in the year-earlier period.

The normalized profit margin rose to 5.5% from 5.1% in the year-earlier period.

Total revenue increased 46.9% on an annual basis to ¥597.75 billion from ¥406.86 billion, and total operating expenses climbed 44.3% year over year to ¥537.53 billion from ¥372.52 billion.

Reported net income grew 198.1% on an annual basis to ¥65.36 billion, or ¥69.21 per share, from ¥21.93 billion, or ¥23.23 per share.

As of Nov. 9, US$1 was equivalent to ¥113.67.