Kobelco's Sales of Construction Equipment Totalled Jpy 355 Billion

Kobelco's sales of construction equipment totalled JPY 355 billion (US$ 4.40 billion) in the fiscal year ending March 31, 2012 - level with the previous year.A +17% increase in crawler crane sales compensated for a fall in the company's excavator business. Kobelco Cranes sold JPY 48 billion (US$ 594 million) worth of cranes last year."In addition to higher demand in overseas markets, mainly North America and Southeast Asia, domestic demand also increased owing to restoration work following the great East Japan earthquake," said a company statement. However, excavator sales were down -2% to JPY 307 billion (US$ 3.81 billion) last year.Although the company saw strong demand in southeast Asia and in Japan - again for reconstruction work - it said it had seen a slump in the Chinese market, which began in April 2011. Ordinary profits at the excavator business, Kobelco Construction Machinery, were down -13% to JPY 22.9 billion (US$ 283 million) as a result of these falling sales.The cranes business bounced back from a JPY 1.4 billion (US$17 million) loss last year to a profit of JPY 161 million (US$ 2 million). Source: khl.com