Komatsu Profits Fall Sharply

Komatsu Profits Fall Sharply

Japanese construction manufacturer Komatsu saw profits fall sharply by 52 percent in Q2 2016 compared to same period in 2015 due to a global economic slowdown and a strong Japanese Yen.

Profits in Asia (excluding China and Japan) were down by 23.5 percent.The Middle East (47 percent) and Africa (35 percent) saw the biggest declines. The economic slowdown in China and falling oil and metal prices have led to lower global demand for construction and mining machinery exacerbated by a strong Yen.

Komatsu are not the only equipment maker suffering with both Caterpillar Inc. and Hitachi Construction significantly cutting their 2016 profit forecasts.

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