Komatsu Ltd., the world's second-biggest maker of building and mining equipment, said sales in China are falling more steeply than anticipated, joining larger peer Caterpillar Inc. in flagging fraying Asian demand.
Komatsu's sales in China, where economic growth is slowing, dropped dramatically in April and May and it will probably miss its annual target for the nation, Chief Executive Officer Tetsuji Ohashi said in an interview, citing delays to the start of some construction projects.
At the same time, he said the bottom for mining machinery demand could be nearing.