Komatsu
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Komatsu (6301) investor relations material

Komatsu Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary30 Jan, 2026

Executive summary

  • Q3 FY2025 net sales rose 3.5% year-on-year to JPY 1,023.9 billion, but operating profit fell 12.7% to JPY 142 billion and net income dropped 13.1% to JPY 94.1 billion.

  • For the nine months ended December 2025, net sales declined 1.4% year-on-year to JPY 2,915.5 billion, operating income decreased 10.1% to JPY 419 billion, and net income fell 13% to JPY 269.8 billion.

  • Launched a three-year Strategic Growth Plan in April 2025, focusing on innovation, profitability, and business transformation.

  • Industrial machinery sales rose, driven by demand in the auto and semiconductor sectors.

Financial highlights

  • Q3 operating income ratio declined by 2.5 points to 13.9%; net income margin also decreased.

  • Nine-month operating income ratio dropped 1.4 points to 14.4%.

  • Free cash flow for the nine-month period was positive at JPY 115.7 billion.

  • Net income attributable to shareholders declined 13% to JPY 269.8 billion; EPS was JPY 295.82.

  • Total assets increased to JPY 6,307.9 billion, and shareholders' equity rose to JPY 3,359.3 billion.

Outlook and guidance

  • Full-year FY2025 projections remain unchanged: net sales of JPY 3,888.0 billion (down 5.3% year-on-year), operating income of JPY 500.0 billion (down 23.9%), and net income of JPY 320.0 billion (down 27.2%).

  • Dividend forecast unchanged at JPY 190 per share for FY2026.

  • Global demand for construction, mining, and utility equipment is expected to decrease 0–5% for FY2025, with mining equipment demand projected to fall 10–15%.

  • North American and European demand steady; Southeast Asia and Japan face declines.

Explain Q3 sales growth vs 9-month decline
What is JPY impact on sales and assets
Address inventory impact on operating cash flow
What drives Industrial Machinery segment profit?
How does regional/product mix impact CMU profit?
Can price increases offset rising tariff costs?
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Frequently asked questions

Komatsu Ltd. is a Japanese multinational corporation specializing in the manufacturing of construction, mining, and industrial equipment. The company produces machinery such as excavators, bulldozers, and dump trucks, as well as equipment for forestry and agriculture. Komatsu also offers solutions in automation and smart construction technology. The company serves industries including construction, mining, infrastructure, and energy. Komatsu Ltd. is headquartered in Tokyo, Japan, and its shares are listed on the TSE.

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