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Heavy equipment slump to last, says Komatsu chief

Komatsu President Tetsuji Ohashi

TOKYO -- Japanese construction machinery maker Komatsu expects its operating profit to decline roughly 30% on the year to 150 billion yen ($1.41 billion) in the fiscal year ending March 2017. Operating profit is likely to fall for a second straight year for the first time since fiscal 2009, dropping to its lowest level since that year, when Komatsu was reeling from the impact of the global financial crisis.

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