Japanese companies Komatsu Group, Toyota Industries Corp (TICO) and Nippon Yusoki Co Ltd have released positive financial results for the financial year ended 31 March 2011, despite suffering the impact of the 'great East Japan earthquake'.

Komatsu recorded a 28.7% rise in consolidated net sales to JPY1.8431 trillion (USD22.206 billion) for the past financial year. The manufacturer says sales were affected by currency fluctuations and losses resulting from damages flowing from the earthquake and subsequent tsunami.

However, increased sales and continuing structural reforms greatly benefited the company. Its net income attributable to Komatsu Ltd, which makes forklifts, rose 349.2% from the previous year to JPY150.7 billion (USD1.816 billion).

Komatsu predicts sales and profit growth for the coming fiscal year but cautions that it is closely monitoring issues resulting from the earthquake like power supply, suppliers' production recovery, aftershocks and the crippled nuclear plant in Fukushima prefecture. Six of Komatsu's Japanese plants were disrupted by the earthquake but they have now resumed production.

"With respect to extraordinary demand in restoration and reconstruction of the devastated regions, a large portion of what will be done remains uncertain, and thus it is not incorporated in the projected business results," Komatsu says.

Meanwhile, Nippon Yusoki Co Ltd recorded a 13.1% growth in sales to JPY36.31 billion (USD414.0 million) for the year ended 31 March 2011. This compares to a 34.5% drop in sales revenue to JPY32.1 billion (USD395.4 million) for the previous fiscal year. The company made a net profit of JPY29 million (USD357,197) compared to the previous year's loss of JPY329 million (USD4.052 million).

For Toyota Industries Corp (TICO), the earthquake in March forced it to partially suspend production due to parts supply problems from suppliers. Despite this, total consolidated net sales for TICO increased 7% to JPY1.4798 trillion (USD18.228 billion) for the past financial year.

Net sales for TICO's materials handing equipment segment totaled JPY490.6 billion (USD6.043 billion), increasing JPY59 billion (USD726.8 million) or 14% from the previous fiscal year.

Overcoming rising raw materials prices and exchange rate fluctuations, TICO posted a profit of JPY47.2 billion (USD581.6 million) compared to a net loss of JPY26.2 billion (USD322.97 million) the previous fiscal year. An extraordinary loss of JPY4.6 billion (USD56.7 million) was recorded for the damage suffered from the earthquake.

TICO says the operating environment in Japan is expected to remain severe as the impact of the earthquake on the economy could become more serious or prolonged. The company says it will not disclose a forecast for the coming fiscal year yet as the effect of the earthquake has made predicting difficult.