TOKYO, April 27 (Reuters) - Komatsu Ltd , the world's No.2 construction machinery maker, posted a more than tripling of operating profit for the past business year and forecast higher earnings this year as it banks on solid demand in the U.S. and Chinese markets.
Komatsu, which trails U.S. giant Caterpillar Inc , recorded an operating profit of 222.93 billion yen ($2.7 billion) for the year ended in March, up from a 67.04 billion yen profit in the prior year.
The result was less than the Thomson Reuters Starmine SmartEstimate of 234.5 billion yen derived from 12 analysts. The SmartEstimate puts a larger weighting on recent estimates by highly rated analysts.
For the current year to March 2012, Komatsu forecast operating profit would rise 37 percent to 305 billion yen, against the SmartEstimate of 294.7 billion yen.
Komatsu has boosted its presence in China, where aggressive spending on housing and infrastructure projects is driving up demand for wheel loaders, hydraulic excavators and mining equipment.
Komatsu shares rose 12 percent from the start of 2011 through Tuesday's close, outperforming a 6.6 percent fall in the benchmark Nikkei average . ($1 = 81.515 Japanese Yen) (Reporting by Nathan Layne; Editing by Edmund Klamann)