Japanese manufacturer, Kawasaki Heavy Industries has raised its sales outlook for FY2021 (ending March 31, 2022) to JPY1.53tn ($13.9bn) from JPY1.5tn previously. Orders are expected to climb to JPY1.5tn against the previous forecast of JPY1.48tn.
Its operating profit for FY2021 is projected at JPY 40bn up from JPY30bn forecasted previously while net income expectations have increased to JPY19bn from JPY17bn.
In Q1 FY2021 (ended June 30, 2021), the company’s order book increased to JPY304.2bn compared to JPY248.2bn in Q1 FY2020. Of the total orders received, those for aerospace systems dropped to JPY37.4bn from JPY45.4bn, rolling stock fell to JPY9.3bn from JPY18.7bn, while motorcycle and engine orders increased to JPY113.5bn from JPY58.9bn all compared to the same quarter a year ago.
The firm’s net sales in Q1 FY2021 rose to JPY355.6bn compared to JPY300.6bn in the same period in 2020. Net sales for aerospace systems dropped to JPY70bn from JPY74.6bn, rolling stock declined to JPY28.7bn from JPY32.3bn, and motorcycle and engine sales rose to JPY113.5bn from JPY58.9bn during the same period.
The firm’s total operating profit increased by JPY35.8bn in Q1 FY2021 to JPY15.1bn from a loss of JPY20.6bn in Q1 FY2020. Its net income also rose by JPY21.6bn to JPY9.8bn in Q1 FY2021 from a JPY11.7bn loss in the same quarter last year.