Kawasaki Heavy Industries revised downwards its earnings forecast September 30 at 20:02 due to China's economic slowdown
Kawasaki Heavy Industries has revised its business forecast for the current fiscal year downward if sales do not increase due to the slowdown in the Chinese economy and operating income is 20% lower than the previous forecast.
According to the announcement, sales will be 1,660.0 billion yen, 2% lower than the forecast for July, and operating profit will be 56 billion yen, 22% lower.
The operating income for the previous fiscal year was 64 billion yen, which was expected to increase in the previous forecast, but this downward revision will turn the profit down.
The reason for this is that sales of hydraulic equipment used in construction machinery did not grow as expected due to the slowdown in the Chinese economy, and the sales forecast for related robots was revised due to sluggish demand for semiconductors.
Another impact was the revision of the exchange rate, which is the basis for the earnings forecast, from the previous 1 dollar = 110 yen to the yen appreciation of 1 dollar = 107 yen.
Kenji Tomita, vice president of Kawasaki Heavy Industries, said, “A Chinese manufacturer of construction machinery is lowering sales prospects. The recovery of semiconductor-related demand is also delayed, and the recovery is expected to shift to the beginning of the year from the end of the year.” Talking.