Komatsu Ltd. on Monday reported a consolidated net profit of 6.91 billion yen in fiscal 2000, down 48.4 percent from the previous year.
The world’s second largest integrated maker of construction machinery said the sharp decrease is due to sluggish domestic sales of electronic machinery.
Consolidated per-share net profit was 7.24 yen, compared with 13.85 yen the previous year.
Komatsu also said its group pretax profit amounted to 20.06 billion yen, up 3.4 percent, on sales of 1.096 trillion yen, up 3.9 percent.
For fiscal 2001, it expects a consolidated pretax profit of 21 billion yen and a net profit of 8 billion yen, or 8.39 yen per share, on sales of 1.12 trillion yen.
On an unconsolidated basis, Komatsu recorded a pretax profit of 11.28 billion yen, up 13.5 percent, and a net profit of 7.22 billion yen, down 46.9 percent, on sales of 430.27 billion yen, down 2.5 percent.
Per-share net profit was 7.52 yen, compared with 14.05 yen in the previous year.
During fiscal 2001, Komatsu forecasts a pretax profit of 14 billion yen and a net profit of 8 billion yen, or 8.34 yen per share, on sales of 430 billion yen.
The company plans to pay a per-share dividend of 6 yen for the full year, unchanged from fiscal 2000.
Komatsu also said Masahiro Sakane, a vice president, has been appointed as president to succeed Satoru Anzaki, who stepped aside to become chairman.
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