Revenue growth for Kobelco Cranes

Kobelco Cranes’ sales for the first quarter of the fiscal year ending June 30 were up 6.7 % to JPY 18.1 billion (US$ 146 million). However, the division saw its ordinary income fall 41.6 % to JPY 1 billion (US$ 8.1 million), compared to the same period last year.

A company statement said, “Unit sales of crawler cranes were similar to the same period last year, owing to firm demand in Japan, North America, Asia and other areas… Due to increased expenses needed for sales promotion activities, ordinary income decreased JPY 0.7 billion, compared with the same period last year.”

Parent company Kobe Steel forecasts full-year revenues for the division will come in at JPY 80 billion (US$ 647 million), which would be a 12.6 % increase on the 2014 fiscal year. Ordinary income is expected to be almost unchanged at JPY 5 billion (US$ 40 million).