Cyclical recovery in construction spending benefits Komatsu, but product quality is not everything.
Komatsu posted in-line third-quarter earnings with revenue down 10% and operating income down 23% year over year, mainly caused by the strong Japanese yen. However, the operating margin improved to 10.0% from 8.4% in the second quarter, thanks to lower fixed costs and higher contributions from emerging countries such as Indonesia. Komatsu revised up its projection of nonconsolidated business to reflect better sales in China and the CIS region, but maintained its guidance on consolidated base for...
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