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Komatsu fiscal Q1 profit climbs 21.5% YOY

Komatsu Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥38.67 per share, an increase of 21.5% from ¥31.84 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.91 billion, an increase of 21.5% from ¥30.38 billion in the prior-year period.

The normalized profit margin increased to 8.0% from 6.7% in the year-earlier period.

Total revenue grew year over year to ¥460.22 billion from ¥455.16 billion, and total operating expenses fell year over year to ¥396.74 billion from ¥402.75 billion.

Reported net income grew from the prior-year period to ¥37.69 billion, or ¥39.49 per share, from ¥37.29 billion, or ¥39.09 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.