Does anyone know which part of Komatsu has the Laser business?
TOKYO -- Komatsu Ltd. (J.KMT or 6301), a major Japanese construction machinery maker, steeply cut its group earnings estimates for this fiscal year through March 31, citing a slump at one of its electronics units.
Komatsu now sees a group net loss of Y13.0 billion and a pretax loss of Y8.0 billion on sales of Y1.060 trillion. They were much worse than the a Y1.0 billion group net profit, a Y12.0 billion pretax profit and Y1.100 trillion sales previously projected.
In the previous fiscal year, the company posted a group net profit of Y19.24 billion and pretax profit of Y40.25 billion on sales of Y1.104 trillion.
Komatsu attributed the downward revision to a worse-than-expected business outlook for Komatsu Electronic Metals Co. (J.KLE or 5977), a one-time loss related to rationalization of the parent company's machinery sales sector, and losses posted by some overseas subsidiaries.
Komatsu Electronic Metals said it now sees a Y20.0 billion group net loss and a Y15.5 billion pretax loss this fiscal year due to the protracted slump of the global semiconductor markets and restructuring of its U.S. unit.
Komatsu Electronic Metals will post Y18.0 billion in special losses to restructure Komatsu Silicon America, a chip wafer manufacturing unit, before selling it to Komatsu Ltd.
The electronics subsidiary will omit its dividend in the second half, although it had originally planned to pay Y3.
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