KMTUY - Komatsu Ltd. (KMTUY) Q3 2024 Earnings Call Transcript
2024-01-31 13:26:03 ET
Komatsu Ltd. (KMTUY)
Q3 2024 Earnings Conference Call
January 30, 2024 01:00 ET
Company Participants
Takeshi Horikoshi - Chief Financial Officer
Kiyoshi Hishinuma - General Manager, Business Coordination Department
Conference Call Participants
Kentaro Maekawa - Nomura Securities
Tomohiko Sano - JPMorgan Securities
Yoshinao Ibara - Morgan Stanley MUFG Securities
Hirosuke Tai - Daiwa Securities
Presentation
Takeshi Horikoshi
Hello. This is Takeshi Horikoshi CFO. Before going into our financial results, we would like to express our deepest sympathies to all those who are affected by the Noto Peninsula earthquake on January 1, 2024.
In terms of production, damage to our production bases into Hokuriku area was minor. And after confirming safety and quality, we have been resuming operations as usual from the beginning of the year after year end holidays. There have been some suppliers that were hit hard, but by making use of inventory and sourcing from alternative channels, production has not been obstructed. Komatsu has also dispatched maintenance personnel to the affected partner companies to support their restoration.
Furthermore, the impact of the earthquake on our consolidated business performance is negligible. For reconstruction assistance, we have donated a total of JPY600 million as emergency relief funds, JPY500 million went to Ishikawa Prefecture and JPY100 million to Toyama Prefecture. In addition, we are cooperating with our distributors to meet the requests of the disaster stricken areas by providing water and food supplies, blending construction equipment and forklifts, etcetera free of charge, and offering maintenance services for machinery.
Now, I would like to go into fiscal ‘23 Q3 business results. On Page 4, I will explain the highlights for fiscal ‘23 Q3 quarterly results. The exchange rates are JPY149.7 to the dollar JPY159.9 to the euro and JPY96.7 to the Australian dollar. Compared to the same period last year, the yen depreciated against the U.S. dollar, euro and Australian dollar. Net sales increased 5.6% year-on-year to JPY972 billion. Operating income increased 15.9% to JPY156.4 billion. The operating income to net sales ratio rose 1.4 percentage points to 16.1%. Net income increased 42.4% to JPY98.7 billion. Net sales and operating income increased due to the improvement of selling prices and the positive impact of FX rates. Net sales operating income ratio and the net income reached third quarter record highs. In addition, segment profit and operating income reached all time quarterly record highs....
Komatsu Ltd. (KMTUY) Q3 2024 Earnings Call Transcript