Shipments of construction equipment rose 10.4 percent in November from a year earlier as increased spending on building and mining projects drove demand for excavators and tractors at Komatsu Ltd. and its rivals, an industry group said Thursday.
Shipments rose to ¥219 billion, the 62nd straight month of increase, the Tokyo-based Japan Construction Equipment Manufacturers Association said. The group represents 76 companies, including Komatsu, Hitachi Construction Machinery Co. and Kubota Corp.
Japan is headed for its second consecutive annual record for shipments of construction machinery this year, the industry group said in August. Komatsu and Hitachi Construction Machinery have forecast record profits for this business year, buoyed by demand from emerging markets, including China, Russia and nations in Southeast Asia.