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Komatsu (6301) investor relations material
Komatsu Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2027 net sales rose 14.1% to ¥2,158.6B; operating income increased 3.5% to ¥286.6B and attributable net income rose 9.2% to ¥191.9B, while operating margin fell 1.3 points to 13.3%.
Q2 net sales reached a record ¥1,115.5B, up 13.6% YoY; operating income fell 1.2% to ¥135.1B while net income rose 13.3% to ¥95.8B.
FY2027 guidance was raised to ¥4,450B sales, ¥585B operating income and ¥382B attributable net income, reflecting stronger-than-expected demand and yen depreciation.
Financial highlights
H1 income before taxes and affiliated-company earnings rose 4.9% to ¥271.0B; basic and diluted EPS were ¥215.06, up ¥23.26 YoY.
Q2 operating income ratio declined 1.8 points to 12.1%; H1 ratio fell 1.3 points to 13.3%.
H1 free cash flow was a ¥20.3B inflow, versus ¥249.7B for FY2025.
Outlook and guidance
FY2027 guidance: sales ¥4,450B, operating income ¥585B, pretax income ¥548B, attributable net income ¥382B and basic EPS ¥429.63.
Projected operating income ratio is 13.1%, down 0.6 points YoY; ROE is 11.0%, down 0.3 points.
Full-year exchange assumptions are USD/JPY 154.5, EUR/JPY 179.1 and AUD/JPY 109.2; H2 assumptions are 150.0, 174.0 and 106.0, respectively.
Demand for seven major construction products is projected to rise 5%–10%; mining equipment demand is forecast to decline 0%–5%.
FY2027 equipment segment profit is forecast at ¥504B (+2.6%), with a 12.2% margin; Retail Finance profit is projected at ¥36.5B and Industrial Machinery & Others at ¥44.0B.
- Record Q1 sales and profit growth prompt upward full-year guidance amid resilient demand.6301
Q1 2027 - Record sales, but profits fell; further declines and share buyback expected next year.6301
Q4 2026 - Sales rose but profits fell; outlook and dividend forecast unchanged amid regional divergence.6301
Q3 2026 - Sales and profits fell on weak Asian demand and tariffs, but industrial machinery surged.6301
Q2 2026 - Sales and profits fell on currency headwinds, but guidance and growth initiatives remain intact.6301
Q1 2026 - Sales up 8% on mining and yen, but profit margins fell; outlook raised for FY2024.6301
Q2 2025 - Record Q1 sales and profits, outlook steady, GHH acquisition strengthens mining segment.6301
Q1 2025 - Record profits, but next year faces sharp declines from FX and tariff headwinds.6301
Q4 2025 - Record sales and profits for Q3 and nine months, with strong mining and industrial growth.6301
Q3 2025
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