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Politics : Formerly About Applied Materials

AMAT 256.40

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Dec 19 3:59 PM EST

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To: StanX Long who wrote (62106)	3/14/2002 10:16:26 PM
From: StanX Long	Read Replies (1) of 70976

Komatsu Expects Profit Next Fiscal Year; Shares Jump (Update3) By Neha Kumar quote.bloomberg.com Tokyo, March 15 (Bloomberg) -- Komatsu Ltd., the second- biggest maker of construction machinery, said it expects to return to profit in its next fiscal year on a recovery in sales in the $876 billion U.S. construction market. Shares surged on the brighter profit outlook. Tokyo-based Komatsu expects group net income of 7 billion yen ($54.3 million) in the fiscal year beginning April 1, compared with a projected 79 billion yen loss in its financial year ending March 31, said company spokesman Akihiro Narimoto. Sales will total about 1.07 trillion yen, up from a target of 1.04 trillion yen in Komatsu's current fiscal year, he said. Komatsu is expanding overseas as Japan cuts spending on public works and construction, paring demand for mechanical diggers and earthmoving equipment that generate two-thirds of revenue. U.S. construction spending rose more in January than any other month in a year as work increased on homes and highways. ``In terms of Komatsu, they are tending to go outside to places like Asia and America,'' which is favorable, said Hisako Furuta, who helps oversee 4 billion yen in assets in ING Mutual Funds Management Co. She doesn't hold any shares of Komatsu.

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