Ads
News service and business centre for materials handlingHOME
Search  
/lynad/news_adclick.asp?assid=18215

18224,18227,18225 20
AGGRESSIVE MEASURES TO RESTORE KOMATSU PROFIT
Thursday, 6 Dec 2001 ( #37 ) - Tokyo, Japan
News Story
TOKYO, Japan -- Recession in world markets has forced Komatsu Forklift to downgrade its outlook, suspend shareholder dividends, and implement "aggressive measures" to increase earnings.

Despite the half-year result prompting wide-ranging changes in company structure and focus, Komatsu expects to post a JPN1.3 billion (USD10.9 million) loss for the full year to March 31, 2002.

The company's net sales for the six months from April 1 to September 30 totalled JPN45.992 billion (USD386 million), a decline of 10.3 percent from the corresponding period in 2000.

The Japanese economy has deteriorated, leading to "drastic" cutbacks in private sector and personal spending, and the USA economy also slowed, which adversely affected Asian economies, Komatsu said in a statement.

"Furthermore, the terrorist attacks in the USA ... have given additional concerns that they may trigger further deterioration of world economies."

While domestic sales fell 1.7 percent to JPN27.8 billion (USD233 million), international sales "plummeted" 9.3 percent to JPN 14.1 billion (USD118 million).

Komatsu had increased its market share in the USA, but "was not able to catch up with the pace of sliding demand". Demand in south-east Asia dropped substantially as the US economy decelerated. Komatsu's only relief came from its China operation, which "continued to generate brisk demand with a promising outlook". As part of an alliance with Linde AG, Komatsu this year began producing forklifts in China.

To combat the slump in the worldwide forklift market, Komatsu plans to reduce group-wide costs by 15 percent by the end of the 2004 financial year.
Discuss Forkliftaction.com News stories in the Discussion Forums!
x
separate border
THIS WEEK'S NEWS
Global News

Global News

SWEDEN Kalmar has launched a completely new range of forklifts based ... [more]
UNITED STATES I.D. Systems has received USD2.4 million in follow-on orders from ... [more]
UNITED STATES CLARK Material Handling Company recently celebrated a historic 100-year milestone ... [more]
/lynad/news_adclick.asp?assid=18220
Ads


Sunbelt Industrial Trucks, Toyota Material Handling USA [more]
UNITED KINGDOM UK equipment rental company P.E.T. Hire has added 11 Snorkel ... [more]
UNITED KINGDOM Kubota (Deutschland) recently reached out to forklift attachment manufacturer KAUP ... [more]
UNITED KINGDOM Logistics and forwarding company Mönkemöller Speditionsgesellschaft mbH has received a ... [more]
UNITED KINGDOM Howard Tenens, one of the UK’s largest privately owned logistics ... [more]
UNITED STATES Citing excellence in aftermarket service, UniCarriers Americas Corporation (UCA) has ... [more]
UNITED STATES Crown Equipment Corporation recently recognised the outstanding performance and commitment ... [more]
/lynad/news_adclick.asp?assid=18221
Ads


Advertisement
Meet ‘Q’. ‘Q’ is not like the others. ‘Q’ is very inclusive. New or used — no matter what size, or make, or application ‘Q’ welcomes you. That’s ‘Q’, Machinery-onQ.com — the latest in machinery trading. LAUNCHING JULY 6! Find out more about ‘Q’ ... [more]
Your Focus

Your Focus(Blog)

Materials handling expert Tracy Brooks reveals some of the trends ... [more]

Announcements (Ads)

Hubtex is expanding its portfolio to include high-performance 48 V ... [more]
Companies operating in transport of goods, all have in commune ... [more]
Solving this issue, Keytroller, an industry leader as a designer, ... [more]
As political uncertainty drives down the value of the pound ... [more]
RICO’s next generation of Explosion Proof lift trucks, AC-60 Phoenix ... [more]
Autonomous vehicle technology has the potential to revolutionise the commercial ... [more]
Forum “Efficient management of company intralogistics” is the main business ... [more]
/lynad/news_adclick.asp?assid=18226
Ads


Subscribe to the weekly e-newsletter.
NEWS ARCHIVE | PAST NEWSLETTERS
©2013 Forkliftaction.com - All rights reserved
 
x
©Forkliftaction.com
Forkliftaction Media Pty Ltd
PO Box 1439
Milton QLD 4064
Australia
Storing your login information automatically.

When you select the 'Remember me' option, your login information will be stored on your computer in the form of a cookie. When you visit Forkliftaction.com again, the stored login information will be retrieved automatically and you will not have to submit your login parameters (email address and password) each time you want to visit our members-only pages.

A cookie is a small piece of data that is sent to your browser from a web server and stored on your computer's hard drive. A cookie can't read data off your hard disk or read cookie files created by other sites. Cookies do not damage your system.

 Back to Top