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Komatsu fiscal Q2 profit falls YOY

Komatsu Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥30.06 per share, a decrease of 24.6% from ¥39.85 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.37 billion, a decline of 25.4% from ¥38.04 billion in the prior-year period.

The normalized profit margin fell to 6.2% from 7.9% in the year-earlier period.

Total revenue declined 7.5% year over year to ¥446.39 billion from ¥482.33 billion, and total operating expenses fell 5.5% from the prior-year period to ¥397.09 billion from ¥420.15 billion.

Reported net income decreased 19.2% from the prior-year period to ¥32.57 billion, or ¥34.51 per share, from ¥40.30 billion, or ¥42.22 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.