Komatsu reports mixed half-year results, revises FY2025 projections upwards

Komatsu reported consolidated net sales of 1,891,587 million yen for the first six months of fiscal year 2025, a 3.9% decrease year-on-year. Operating income declined by 8.7% to 277,061 million yen, and net income attributable to Komatsu decreased by 12.9% to 175,701 million yen. This decline was primarily attributed to foreign exchange rate appreciation against the Japanese yen and reduced sales volume in the construction, mining, and utility equipment segment, despite improved selling prices.

For the full fiscal year ending March 31, 2026, Komatsu revised its projections upward, with net sales now expected to be 3,888,000 million yen and operating income at 500,000 million yen. This revision is mainly due to the Japanese yen's more-than-anticipated depreciation and adjustments for U.S. tariffs. Average exchange rate assumptions for the full year were updated to $1=143.2 yen, €1=164.9 yen, and AUD 1=92.7 yen.

Komatsu also announced a dividend of 95 yen per share for the second quarter, matching its latest projected cash dividend. The company aims for a consolidated payout ratio of 40% or higher, with the current projection at 54.0%. The company is actively pursuing innovation in autonomous technology for construction equipment and new training centers in West Africa.