Komatsu Ltd

6301: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Yen Depreciation and Hard-Rock Demand Lift Komatsu and HCM Guidance, but Komatsu Still Looks Pricey

Kangyuxiao Li

Jul 31, 2026

Komatsu and Hitachi Construction Machinery, or HCM, reported fiscal 2026 (ending March 2027) first-quarter sales growth of 14.7% and 7.5%, respectively. Operating profit rose 8% at Komatsu and adjusted operating profit jumped 56% at HCM. Shares trade 4% below preannouncement levels.

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Komatsu Ltd

Yen Depreciation and Hard-Rock Demand Lift Komatsu and HCM Guidance, but Komatsu Still Looks Pricey

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