Komatsu reports nets sales up 28.7%

Komatsu Ltd. has announced its business results for the fiscal year ended March 31, 2011.

During the fiscal year under review, Komatsu recorded consolidated net sales of JPY1,843.1 billion (USD22,206 million, at USD1=JPY83), up 28.7% from the previous fiscal year. While the Japanese currency appreciated sharply against key currencies, the company did incur a loss resulting from the damages by the Great East Japan Earthquake and the subsequent tsunami.

The company said that in the construction, mining and utility equipment business, demand is on a recovery track in Traditional Markets of North America and Europe in addition to the strong growth of Strategic Markets. Furthermore, as mining activities are brisk for the production of commodities, the company is projecting that demand for mining equipment will continue into the next fiscal year.