Komatsu
In the first half of fiscal year 2025, Komatsu’s key performance indicators generally declined, primarily due to downturns in its core businesses—construction, mining, and utility equipment. Breakdown by region:
- The Americas decreased by 4.3%, linked to the appreciation of the Japanese yen and reduced demand in the mining sector.
- Europe, Africa, and the Middle East grew by 8.9%, with significant growth in large projects in the Middle East.
- Oceania, Asia (excluding Japan and China), and the CIS fell by 13.1%, mainly due to budget cuts in Indonesia. Meanwhile, excavator exports from China to Indonesia increased by 25%.
- China declined by 11.4%, not only due to the downturn in China’s real estate market but also closely related to the strong rise of Chinese brands.
- Japan fell by 6.5%.
Hitachi
According to a stock transfer statement dated November 4, Hitachi Ltd. plans to further reduce its stake in Hitachi Construction Machinery, lowering its shareholding from 25.4% to 18.4%.
Hitachi Ltd. had previously hinted in March 2019 and October 2020 that it would divest all or part of its interests in Hitachi Construction Machinery.
- In 2022, Hitachi Ltd. sold its half of its 51% stake to trading company Itochu Corp. and investment fund Japan Industrial Partners, citing a strategic shift from traditional manufacturing toward digital businesses.
- In October 2025, Hitachi Construction Machinery announced it will be renamed “Landcros” in 2027.
China Excavator Data Analysis for October
- Excavator sales in the first 10 months totaled 192,135 units, a year-on-year increase of 17%, with exports accounting for 93,790 units, up 14.4%.
- Loader sales in the first 10 months totaled 104,412 units, a year-on-year increase of 15.8%, with exports reaching 49,044 units, up 9.7%.
In the next issue, we will analyze the 30-year complex history of Hitachi in China.
