Komatsu's full year results

Komatsu's sales of construction and mining equipment for the fiscal year ending March 31 were up +7.7% to US$ 21.1 billion. Operating profit for the segment was up +11.5% to US$ 3.0 billion.

The company says it saw sales rise in all regions of the world apart from China last year. The steepest increase was in Asia, excluding China and Japan, where sales were up +28.5% to US$ 5.87 billion, which also made it Komatsu's largest region. It was followed in terms of size by the America's where sales were up +14.6% to US$ 5.40 billion.

In Europe and the CIS, growth was a more robust +22.2%, with sales hitting US$ 2.44 billion, while there was a similar increase in Africa and the Middle East, taking revenues to US$ 1.55 billion.

Komatsu's domestic sales were up +13.8% to US$ 3.49 billion. The company said this was due to a decline in the availability of used machines, where were increasing sold for export last year, along with renewed demand for equipment, particularly from rental companies, for reconstruction following the March 2011 earthquake and Tsunami.

However, the hitherto booming Chinese market cooled last year, with Komatsu's revenues falling nearly -40% to US$ 2.46 billion. The fall in sales was equivalent to US$ 1.62 billion “As the government's credit squeeze measures remained in place, the start of new construction projects was delayed by lack of funds and demand dropped sharply, especially in the civil engineering industry," the company said in a statement.

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