Consolidated net sales for the first quarter of the fiscal year ending March 31, 2005, increased 19.8% over the previous corresponding period, to 318.1 billion yen. Net income for the first quarter expanded 177.5%, to 10.3 billion yen. These results represent three consecutive first-quarter improvements in both sales and profits.
In addition to significant growth in sales recorded by the construction and mining equipment business, Komatsu's mainstay operation, sales of industrial machinery, vehicles and other operations as well as the electronics business also improved. Operating profit* surged 96.6% over the previous corresponding period, to 18.1 billion yen, demonstrating continued efforts by Komatsu to improve earnings, and recording growth in both sales and profits for all business segments.
Concerning consolidated business results for the interim period and the full fiscal year ending March 31, 2005, we are pleased to report that our projections announced on May 7, 2004 remain sound and effective today.
*In conformity with the Japanese accounting principles, operating profit is obtained by subtracting cost of sales and selling, general and administrative expenses, from net sales.
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Growth Accelerates in Both Sales & Profits. [Consolidated Business Results for the First Quarter of FY 2005]
Consolidated Business Results for the First Quarter of the Fiscal Year Ending March 31, 2005 (US GAAP)
1. Matters Related to the Production of the Outline of Business
1) Simplified accounting procedures: Adopted in part to calculate tax expenses.
2) Changes in accounting procedures since the last consolidated fiscal year: None.
3) Changes in group of entities:
Consolidated subsidiaries
Added: 4 companies, Removed: 3 companies
2. Results for the First Quarter of the Fiscal Year Ending March 31, 2005
(1) Consolidated Financial Results (Amounts are rounded to the nearest million yen) , Millions of yen
Notes:
1) Percentages shown in net sales, operating profit, income before income taxes and net income represent the rates of change compared with the corresponding first quarter a year ago.
2) Operating profit stated above is the sum of segment profit. The amount is consistent with custom of the Japanese accounting principle by subtracting cost of sales and selling, general and administrative expenses from net sales. This amount does not represent consolidated operating profit under U.S. GAAP.
(2) Consolidated Financial Position
3. Projections for the Fiscal Year ending March 31, 2005 (Millions of yen)
Projected net income per share (Basic) 37.28 yen
*Announced on May 7, 2004
*Concerning its business results for the fiscal year ending March 31, 2005, Komatsu is pleased to report good progress towards company projections that were announced on May 7, 2004, therefore Komatsu doesn't change its projection at this stage.
*You can refer to more detailed information in a PDF formatted file from an upper right link.
Information in the news releases is current on the date of the announcement and is subject to change without notice.
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