东京——重型机械制造商小松周四表示，预计截至2027年3月的财年净利润将同比增长1%，达到3820亿日元（合24.2亿美元）。该公司上调了此前的预期，原因是北美和拉丁美洲的建筑机械销售强于预期。
TOKYO -- Heavy equipment maker Komatsu expects net profit in the fiscal year ending March 2027 to rise 1% on the year to 382 billion yen ($2.42 billion), the company said Thursday, upgrading its earlier forecast on stronger-than-expected sales of construction machinery in North and Latin America.
小松此前曾预计该财年利润将下降7%，至3490亿日元。修正后的展望仍低于QUICK汇总的市场普遍预期3947亿日元。消息公布后股价下跌，收盘跌8%，报6300日元。
Komatsu had previously forecast a 7% drop in profit to 349 billion yen for the fiscal year. The revised outlook still came in under the market consensus of 394.7 billion yen compiled by QUICK. Shares fell after the announcement and closed down 8% at 6,300 yen.
该公司目前预计营收将增长8%，达到4.45万亿日元；营业利润将增长3%，达到5850亿日元，分别较此前预期上调1480亿日元和300亿日元。
The company now expects revenue to increase 8% to 4.45 trillion yen and operating profit to rise 3% to 585 billion yen, raising its forecasts by 148 billion yen and 30 billion yen, respectively.
此次上调预期在很大程度上是由人工智能相关的需求推动的。在北美——小松最大的市场——其建筑、采矿和公用事业设备业务的营收预计将增长8%，达到1.13万亿日元，较此前预期高出471亿日元。通用建筑设备的销售正受益于包括AI数据中心在内的非住宅项目。
The upward revision was driven in large part by demand linked to artificial intelligence. In North America, Komatsu's largest market, revenue from its construction, mining and utility equipment business is projected to climb 8% to 1.13 trillion yen, up 47.1 billion yen from its previous forecast. Sales of general construction equipment are benefiting from nonresidential projects, including AI data centers.
“我们仍在收集客户对下一财年及以后需求的反馈，并评估市场趋势，”小松执行董事菱沼清在财报说明会上表示。
"We are still gathering feedback from customers regarding demand for next fiscal year and beyond and assessing market trends," Komatsu executive officer Kiyoshi Hishinuma said during an earnings briefing.
拉丁美洲建筑、采矿和公用事业设备业务的营收被上调368亿日元，至9093亿日元，较上年增长17%。随着铜价上涨，用于铜开采的采矿设备需求正在增加，这得益于数据中心所用电力电缆需求的增长。
Revenue from construction, mining and utility equipment operations in Latin America was revised up by 36.8 billion yen to 909.3 billion yen, representing 17% growth from the previous year. Demand for mining equipment used in copper extraction is increasing as copper prices rise, supported by growing demand for power cables used in data centers.
“为数据中心建设而扩张的电网基础设施意味着，几乎没有因素可能推动铜价走低，”首席财务官细谷浩表示。
"The expansion of power-grid infrastructure for data center construction means there are few factors likely to push copper prices lower," Chief Financial Officer Hiroshi Hosotani said.
7-9月季度日元走弱幅度超出预期，也支撑了盈利。小松制作所将全年汇率假设修正为1美元兑154.5日元，比此前预估贬值2.4日元。预计汇率变动将使核心建筑与采矿设备业务的营业利润增加302亿日元，比此前预测多出137亿日元。日元对美元每贬值1日元，小松制作所的营业利润将增加约46亿日元。
A weaker-than-expected yen during the July-September quarter also supported earnings. Komatsu revised its full-year exchange rate assumption to 154.5 yen per dollar, 2.4 yen weaker than its previous estimate. Foreign exchange rates are now projected to boost operating profit in the core construction and mining equipment business by 30.2 billion yen, 13.7 billion yen above the previous forecast. A 1-yen depreciation against the dollar lifts Komatsu's operating profit by roughly 4.6 billion yen.
与美国关税相关的成本预计合计177亿日元，低于此前预估的258亿日元。与此同时，钢材等原材料价格上涨预计将推高生产成本。
Costs associated with U.S. tariffs are now expected to total 17.7 billion yen, lower than the previous estimate of 25.8 billion yen. At the same time, rising prices for steel and other materials are expected to boost production costs.
截至9月底的上半财年，小松制作所营收2.16万亿日元，同比增长14%；净利润1919亿日元，同比增长9%。
For the six months ended September, Komatsu reported revenue of 2.16 trillion yen, up 14% on the year, and net profit of 191.9 billion yen, up 9%.
“投资者关注的是，扣除汇率影响后，小松制作所采矿设备业务的营收增速能否同时超越公司指引和市场预期，”野村证券高级分析师前川健太郎表示。
"Investors are looking at whether revenue growth in Komatsu's mining equipment business, excluding currency effects, will beat both the company's guidance and market expectations," said Kentaro Maekawa, senior analyst at Nomura Securities.