This marked a 7.6% increase compared to the same period in 2016. Over the same period operating income grew by 138.6% to ¥30.3bn.
The company’s construction machinery division – which includes the crawler crane and hydraulic excavator business – reported a 22.5% year-on-year increase in sales to ¥87.5bn. However the rise was attributed to increased unit sales of hydraulic excavators.
Kobe Steel said unit sales of crawler cranes declined in the first quarter of the fiscal year.
“Although demand in Japan remained relatively high, the construction of some projects was delayed. In overseas markets, demand decreased mainly in Southeast Asia and due to other factors,” the manufacturer said.
