Business Results for FY2009 ended March 31, 2010, Tasks ... · PDF fileTasks and Projection...

1

Business Results for FY2009 ended March 31, 2010,

Tasks and Projection for FY2010 ending March 31, 2011

and

New Mid-Range Management Plan

“Global Teamwork for Tomorrow”

April 27, 2010

Corporate Planning Division

Komatsu Ltd.

2

1. Sales and profits

While both sales and profits declined year-on-year basis, they improved solidly on quarterly basis.

Outline of FY2009 ended March 31, 2010

2. Review of two business segments

- Construction, Mining and Utility Equipment

For the full year, sales and segment profit declined by 27.3% and 54.0%, respectively. On quarterly basis, both sales

and profits increased steadily against the backdrop of market recovery in emerging economies centering on China.

Fourth quarter sales and segment profit (Jan.-Mar. 2010) expanded by 20.5% and 66.8%, respectively, from the previous

quarter.

- Industrial Machinery and Others

Automobile manufacturing and other industries continued the restraint of capital investment, and sales and segment

profit declined by 41.1% and 76.7%, respectively.

3. Cash dividends

Year-end cash dividends: 8 yen per share. Annual dividends: 16 yen per share including interim dividends of 8 yen

per share. (To be proposed to the 141th ordinary general meeting of shareholders.)

Net sales 1,431.5 billion yen, down 29.2 %

Operating income 67.0 billion yen, down 55.9 %

Operating income ratio 4.7 %, down 2.8 points

Net income* 33.5 billion yen, down 57.4 %

* Net income is comparable to net income attributable to Komatsu Ltd. as defined in the FASB Accounting Standards Codification (ASC) 810.

3

1. FY2009 Fourth Quarter Results (Three Months ended March 31, 2010)

4

Jan. - Mar.,2009(A)

1USD=95yen1EUR=123yen1RMB=13.9yen

Oct. - Dec., 2009(B)

1USD =90yen1EUR=133yen1RMB=13.2yen

Jan. - Mar., 2010(C)


Vs. Jan. - Mar., 2009(C-A)

Vs. Oct. - Dec., 2009(C-B)

Increase (decrease) %

Increase (decrease) %

Net sales 379.0 357.9 427.6 48.5 12.8% 69.6 19.5%

Construction, Mining & Utility Equipment

Industrial Machinery & Others

[316.0] 317.0

[62.9] 70.4

[316.8] 317.5

[41.0] 44.0

[382.0] 382.7

[45.5] 49.8

[66.0] 65.6

[(17.4)] (20.5)

[20.9%] 20.7%

[(27.7)%] (29.2)%

[65.2] 65.2

[4.4] 5.8

[20.6%] 20.5%

[10.9%] 13.3%

Elimination ( 8.4 ) ( 3.5 ) ( 4.9 ) 3.4 - ( 1.4 ) -

Segment profit (loss) ( 12.3 ) 20.8 38.5 50.8 - 17.7 85.1%



( 7.6 )

( 3.4 )

23.3

( 1.3 )

38.9

0.7

46.5

4.1

-

-

15.5

2.1

66.8%

-

Corporate & elimination ( 1.2 ) ( 1.1 ) ( 1.1 ) 0.1 - ( 0.0 ) -

Other operating income (expenses)

( 35.9 )*1 ( 4.4 ) *2 ( 7.5 ) *3 28.3 - ( 3.0 ) -

Operating income (loss) ( 48.2 ) 16.3 30.9 79.1 - 14.6 89.7%

Other income (expenses)

( 1.0 ) ( 0.0 ) ( 0.6 ) 0.4 - ( 0.5 ) -

Net income (loss) before income taxes

( 49.3 ) 16.2 30.2 79.6 - 14.0 86.6%

Net income (loss) *4 ( 34.5 ) 10.1 15.2 49.7 - 5.0 49.7%

( 2.4 )%

( 4.8 )%

( 3.2 )%

7.4%

( 3.2 )%

5.8%

4.6%(12.7)%

Sales and Profits for the Three Months ended March 31, 2010

10.2%

1.5%

9.0%

7.2%

% Profit ratio [ ]:Sales after elimination of inter-segment transactions Billions of yen

*1 Including structural reform expense of 32.3 billion yen. *2 Including structural reform expense of 4.3 billion yen. *3 Including structural reform expense of 5.1 billion yen.

*4 Upon adoption of the FASB Accounting Standards Codification (ASC) 810 (formerly SFAS No.160), “Net income” is equivalent to “Net income attributable to Komatsu Ltd.”

5

30.916.3

8.2-48.2

40.5

79.6 83.3 78.491.4 83.2

76.3

11.5

7.2%4.6%2.6%

14.7% 15.5%14.3% 14.9% 13.7% 12.6%

9.4%

-12.7%

3.5%

-50

0

50

100

FY07/1Q 2Q 3Q 4Q FY08/1Q 2Q 3Q 4Q FY09/1Q 2Q 3Q 4Q

-15

0

15

30Operating income

Operating income ratio

503.1 489.2 501.7 560.6 535.4 517.4379.3

317.0 285.4 285.5 317.5382.7

43.5 56.9 53.363.8 78.7 95.3

58.8

39.7 44.944.0

49.8

-4.9-3.5-4.9-4.8-8.4-6.8-8.3-7.4-10.4-6.9-5.8 -6.1

70.4

-100

0

100

200

300

400

500

600


Industrial Machinery & OthersConstruction, Mining & Utility EquipmentElimination

Quarterly Sales and Operating Income

Quarterly salesQuarterly sales

Quarterly operating incomeQuarterly operating income

Billions

of yen

07/1Q 2Q 3Q 4Q

122yen 117yen 113yen 104yen


15.9yen 15.5yen 15.3yen 14.6yen

08/1Q 2Q 3Q 4Q



15.2yen 15.7yen 13.9yen 13.9yen

1USD

1EUR

1RMB

540.8 539.1548.9

613.9 606.8 604.4

431.4

320.4379.0

Exchange

rates

Billions

of yen %

325.5

09/1Q 2Q 3Q 4Q



14.2yen 13.6yen 13.2yen 13.3yen

427.6357.9

*

* Including structural reform expense of 32.3 billion yen

6

83.4 89.2 100.8 97.2 80.0 81.3 84.4 64.1 51.7 54.7 60.5 61.3

92.1 80.7 69.6 80.069.9 72.6 55.0

50.035.5 32.3 31.6 35.9

91.7 82.8 79.3 86.881.1 54.4

24.623.9

22.1 20.7 22.9 24.4

42.4 44.9 46.154.3

60.866.4

47.939.2

37.3 38.0 44.6 50.5

18.2 19.7 25.123.0

26.730.4

22.4

9.49.9 5.9

7.2 8.5

45.631.9 41.3

62.562.4

39.1

23.953.6

55.4 49.055.5

84.4

79.177.6

87.8

84.195.0

99.3

50.154.3 62.9

73.5

91.0

48.960.5

50.1

70.557.7

72.3

54.6

25.418.1 20.8

20.7

25.7

65.1

0.0

100.0

200.0

300.0

400.0

500.0

600.0


Japan

North

America

CIS

China

Asia &

Oceania

Middle East &

Africa

501.8 487.6 500.4

558.7534.0

Europe

516.1

Construction, Mining & Utility Equipment: Quarterly Sales (To Outside Customers) by Region

378.4

316.0

284.6

Billions

of yen

Exchange

rates



15.2yen 15.7yen 13.9yen 13.9yen



14.2yen 13.6yen 13.2yen 13.3yen

1USD

1EUR

1RMB



15.9yen 15.5yen 15.3yen 14.6yen

284.9

316.8

382.0

Latin

America

FY2009 Fourth Quarter

Sales by Region

Emerging economies : 68 %

Japan, North America and Europe : 32 %

7

2. Results for FY2009 ended March 31, 2010

8

FY2008


FY2009

1USD =93yen1EUR=131yen 1RMB=13.6yen

Increase (decrease)

Net sales 2,021.7 1,431.5 (590.1) (29.2)%

Construction, Mining & Utility EquipmentIndustrial Machinery & Others

[1,744.7] 1,749.3[277.0] 303.3

[1,268.5] 1,271.2[162.9] 178.6

[(476.1)] (478.1) [(114.0)] (124.7)

[(27.3)%] (27.3)%[(41.2)%] (41.1)%

Elimination (31.0) (18.3) 12.7 -

Segment profit 188.6 80.7 (107.9) (57.2)%


180.412.8

83.02.9

(97.3)(9.8)

(54.0)%(76.7)%

Elimination (4.6) (5.3) (0.6) -

Other operating income (expenses) (36.7) *1 (13.6) *2 23.0 -

Operating income 151.9 67.0 (84.9) (55.9)%

Other income (expenses) (23.1) (2.0) 21.1 -

Income before income taxes 128.7 64.9 (63.8) (49.5)%

Net income *3 78.7 33.5 (45.2) (57.4)%

6.5%

1.7%

5.6%

4.7%

Sales and Profits for FY2009 ended March 31, 2010

Cash dividends per share 40 yen 16 yen (24) yen

Billions of yen% [ ]：：：：Sales after elimination of inter-segment transactions: Profit ratio

10.3%

4.2%

9.3%

7.5%

*1 Including structural reform expense 32.3 billion yen. *2 Including structural reform expense 12.0 billion yen.

*3 Upon adoption of the FASB Accounting Standards Codification (ASC) 810 (formerly SFAS No.160), “Net income” is equivalent to “Net income

attributable to Komatsu Ltd.”

9

Japan

18%

North

America

11%

Latin

America

13%

CIS

3%

Asia &

Oceania

22%

Middle

East &

Africa

7%

China

19%

Europe

7%

370.7 309.8 228.5

322.6247.8

135.5

340.8

184.1

90.2

214.5

170.5

86.1

89.1

31.7

179.2

244.5

328.7

309.7

281.8

230.1

210.2

85.5

187.8

181.4

0

500

1,000

1,500

2,000

Apr.07-Mar.08 Apr.08-Mar.09 Apr.09-Mar.10

Middle East & Africa

Asia & Oceania

China

CIS

Latin America

Europe

North America

Japan

Billions of yen

¥93/USD

¥131/EUR

¥13.6/RMB

¥114/USD

¥162/EUR

¥15.3/RMB

¥101/USD

¥143/EUR

¥14.7/RMB

1,744.7

Sales by region (to outside customers)Sales by region (to outside customers)

2,048.7

Japan

18%

North

America

14%

Latin

America

12%

CIS

5%

Asia &

Oceania

18%

Middle

East &

Africa

12%

Europe

11%

China

10%

Apr.08-Mar.09

Apr.09-Mar.10

BreakdownBreakdown

Japan, North

America and

Europe

36%

Emerging

economies

64%

Emerging

economies

57%

Japan, North

America and

Europe

43%

Rate of growth

Rate of growth (year-on-year basis)

JapanNorth America

EuropeLatin

AmericaCIS China

Asia & Oceania

Middle East & Africa

Total

Apr.08-Mar.09 (16.4)% (23.2)% (46.0)% +14.2% +3.4% (1.2)% (5.8)% (8.7)% (14.8)%

Apr.09-Mar.10 (26.3)% (45.3)% (51.0)% (20.5)% (64.4)% +36.4% (9.0)% (59.3)% (27.3)%

-14.8%

-27.3%

1,268.5

Construction, Mining & Utility Equipment: Sales (To Outside Customers) by Region

< Twelve months from April through December, 2009 >

10

Billions

of yen

[Positive factors]

- Price difference : + 27.5 billion yen

- Fixed costs difference : +43.3 billion yen

- Cost reduction,

increased material prices & others : +6.6 billion yen

[Negative factors]

- Demand difference : - 139.9 billion yen

- Exchange rate difference : - 34.9 billion yen

Reduced profit of 97.3 billion yen

FY2008 vs. FY2009 FY2008 vs. FY2009

Construction, Mining & Utility Equipment: Causes for Difference in Segment Profit

Positive factor Negative factor

FY2008 FY2009

1USD 101yen 93yen

1EUR 143yen 131yen

1RMB 14.7yen 13.6yen

Exchange

rates

83.0

180.4

0

100

200

FY2008 FY2009

6.5 %

Demand

difference

-139.946

100

Segment profit ratio

Index: FY08 results = 100

10.3 %

Exchange

rate

difference

-34.9

Price

difference

+27.5

Fixed

costs

difference

+43.3

Cost

reduction,

increased

material

prices &

others

+6.6

11

217.6 178.6

303.3

0

100

200

300

400

FY2007 FY2008 FY2009

Billions

of yen

19.9

2.9

12.8

0

10

20

30

FY2007 FY2008 FY2009

0

5

10

15

1.7%

%

4.2%

9.2%

Industrial Machinery & Others : Sales and Segment Profit

SalesSales Segment profitSegment profitBillions

of yen


Billions of yen

Breakdown of sales and segment profit(FY2008 v.s. FY2009)

Breakdown of sales and segment profit(FY2008 v.s. FY2009)

Sales Segment profit

FY2008 FY2009 Increase(decrease)

FY2008 FY2009 Increase(decrease)

Large presses & Komatsu Industries 76.9 42.7 ( 34.2 ) 3.2 ( 3.0 ) ( 6.2 )

Komatsu NTC 93.1 51.2 ( 41.9 ) 4.5 2.2 ( 2.3 )

Consolidation adjustment of Komatsu NTC 15.6 2.9 ( 12.7 ) ( 1.5 ) ( 0.7 ) 0.8

Others 117.7 81.8 ( 35.9 ) 6.6 4.4 ( 2.2 )

Total< Allowance for doubtful receivables >

303.3 178.6 ( 124.7 ) 12.8< ( 3.6 ) >

2.9< 2.6 >

( 9.8 )

12

Mar. 31, 20091USD=98yen1EUR=130yen1RMB=14.4yen

Mar. 31, 20101USD=93yen1EUR=125yen1RMB=13.6yen

Increase(decrease)

Cash & deposits (Incl. time deposit) [a]Accounts receivable (Incl. long-term trade receivable)<Excl. accounts receivable of consolidated retail finance subsidiaries>

InventoriesTangible fixed assets

Other assets

90.6476.8

<308.1>507.3525.4368.7

83.5598.6

<338.1>396.4525.1355.3

(7.0)+121.7<+30.0>(110.9)(0.3)(13.4)

Total assets 1,969.0 1,959.0 (10.0)

Accounts payable 214.3 207.0 (7.3)

Interest-bearing debt [b] 599.8 586.3 (13.4)

<Excl. interest-bearing debt of consolidated retail finance subsidiaries> <450.7> <351.1> <(99.5)>

Other liabilities 306.4 288.8 (17.6)

Total liabilities 1,120.7 1,082.2 (38.4)

[% of total assets]Shareholders’ equity

[41.4%]

814.9[42.6%]

833.9[+1.2points]

+19.0

Noncontrolling interests (Minority interests) 33.3 42.8 +9.4

Liabilities & shareholders’ equity 1,969.0 1,959.0 (10.0)

Interest-bearing debt, net [b-a] 509.2 502.8 (6.4)

Net D/E ratio excluding cash and interest-bearing debt of

consolidated retail finance subsidiaries

0.600.62

0.360.48

Consolidation

effects of

Komatsu

Australia

Corporate

Finance

Pty. Ltd.

[+37.4]

[+14.2]

[+46.3]

Consolidated Balance Sheets

Net D/E ratio Billions of yen

13

1. Assets

34.733.6

2.53.8

0

10

20

30

40

50

FY2008 FY2009

Revenues

Profit before tax

2. Revenues

Consolidated finance subsidiaries (internal-use data)Consolidated finance subsidiaries (internal-use data)

End of March, 2009 End of March, 2010

(1USD) 98 yen 93 yen

(1EUR) 130 yen 125 yen

(1RMB) 14.4 yen 13.6 yen

(1USD) 101 yen 93 yen

(1EUR) 143 yen 131 yen

(1RMB) 14.7 yen 13.6 yen

Retail Finance Business

Billions

of yen

-50

50

150

250

350

450

341.3352.3

North America

(off balance)

North America

(on balance)

Others

China

Europe

Japan

Elimination

Others

China

Europe

Japan

Elimination

Australia

Billions

of yen

North America(off balance)

North America

(on balance)

14

3. Review of the Last Mid-Range Management Plan

(FY2007-2009)

15

“Global Teamwork for 15” Mid-Range Management Plan in Figures

Target items Target figures for FY 09 FY06 FY07 FY08 FY09

1 Operating income ratio 15% or above 12.9% 14.8% 7.5% 4.7%

2 ROE To maintain 20% level. 23.5% 25.1% 9.3% 4.1%

3 Net debt-to-equity ratio 0.2 or below 0.33 0.39 0.62 0.60

Excl. debt of finance subsidiaries →→→→ 0.22 0.29 0.48 0.36

4 Consolidated payout ratio*[ ]:Excl. structural reform expenses

20% or above 20.1% 20.5% [ 40% ] [ 38% ]

* Based on net income from continuing operations

Items of assumption Guidelines for FY09 FY06 FY07 FY08 FY09

1 Net sales (Billions of yen) 2,400.0 (+/- 100.0) 1,893.3 2,243.0 2,021.7 1,431.5

2 FOREX JPY/USD 110 117 114 101 93

JPY/EUR 145 151 162 143 131

<Assumptions of mid-range management plan and results>

Target figures and results of the mid-range management plan (FY07-09)

Target figures were practically achieved in FY2007, but the business environment drastically changed in and after the second half of FY2008.

16

Billions of yen21%

17%14%14%

0

100

200

300

400

FY06 FY07 FY08 FY09

0%

10%

20%

Main activities Results

1 Development of DANTOTSU products 1) Introduced the Hybrid hydraulic excavator on the market as a pioneer.

- April 09 in Japan

- March 10 in China

2) Komatsu equipment with KOMTRAX

exceeded 160 thousand units.

3) Expanded the introduction of the Autonomous

Haulage System (AHS) and ensured stable operation.

2 Further enhancement of market

position in Greater Asia

1) Improved market share.

2) Expanded local manufacturing.- New factory of Komatsu Shantui (March 09)- New factory of Bangkok Komatsu (August 07)- New factory of Komatsu Indonesia (January 09)

3 Business expansion in the entire value

chain

1) Reinforced the parts business.

2) Reinforcement of retail finance business.- Coverage of major markets and mining customers by 8 companies(Consolidated Komatsu Australia Corporate Finance in May, 09)

Review of Main Activities of the Mid-Range Management Plan (FY07-09) - 1

Sales amount & ratio of parts business

10%

20%

30%

FY03 FY04 FY05 FY06 FY07 FY08 FY09

0

100

200

(1,000 units)Demand Share in Greater Asia

Share in China Worldwide share

17

Main activities Results

4 Establishment of flexible manufacturing

operations

( 1st stage : Up through 1H of FY08 )

Expanded production capacity in emerging countries

Expanded cross sourcing

( 2nd stage : Since 2H of FY08 )

Reformation of manufacturing operation & inventory reduction- Japan : 8 to 5 factories, - North America : 8 to 3 factories

5 Expansion of utility equipment business Structural reforms & fixed cost reduction of Komatsu Utility- Closed the Kawagoe Plant and transferred production to the Tochigi Plant (Feb, 09)

- Consolidated 9 distributors to 1 in Japan (Oct, 09)

- Acquired distributor in Australia (Apr, 09)

6 Reinforcement of industrial machinery

business

( 1st stage : Up through 1H of FY08 )

Intensive marketing of large

AC servo presses and wire saws


Structural reforms in Japan- Closed the Komatsu Plant and transferred production to the Kanazawa Plant

- Consolidated large press operation to Komatsu Industries

7 Continuous reduction of fixed costs ( 1st stage : Up through 1H of FY08 )

Invested in production and R&D corresponding to increasing demand


Reduced fixed costs by promoting structural reform activities:

approx. 50 billion yen for FY09 (the same level as FY03) from FY08

Review of Main Activities of the Mid-Range Management Plan (FY07-09) - 2

180

2,500

5,000

7,500

10,000

1980 1990 2000 2005 2010FC 2015FC

OthersIndiaChinaEuropeN.AmericaJapan

Changes in the Business Environment - 1

JPY/USD

0

20

40

60

80

100

120

140

160

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

J-04

J-05

J-06

J-07

J-08

J-09

J-10

JPY/EUR

0

20

40

60

80

100

120

140

160

180

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

J-04

J-05

J-06

J-07

J-08

J-09

J-10

JPY/CNY

02468

101214161820

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

J-04

J-05

J-06

J-07

J-08

J-09

J-10

JPY/AUD

0

20

40

60

80

100

120

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

J-04

J-05

J-06

J-07

J-08

J-09

J-10

JPY/RUB

0

1

2

3

4

5

6

J-99 J-00 J-01 J-02 J-03 J-04 J-05 J-06 J-07 J-08 J-09 J-10

JPY/ZAR

0

5

10

15

20

25

J-99 J-00 J-01 J-02 J-03 J-04 J-05 J-06 J-07 J-08 J-09 J-10

<JPY/USD> <JPY/RMB> <JPY/EUR>

<JPY/AUD>＞＞＞＞ <JPY/RUB> <JPY/ZAR>

0

50

100

150

200

250

300

350

'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 10e 11e 12e

Copper (USD/lb)Dubai crude price (USD/barrel)Iron ore (USD/ton)Steam coal (USD/ton)

0

500

1,000

1,500

2,000

'04 '05 '06 '07 '08 '09 '10e '11e '12e

China India, Brazil Others

< Crude Steel Production >< Commodity Prices >

Foreign exchange rates

< World Population > < Urbanization Rates >

Millions of metric tons

Strategic markets

Traditional markets

Commodity prices & crude steel production World population & urbanization rates

20%

30%

40%

50%

60%

70%

80%

90%

100%

1980 1990 2000 2005 2010FC2015FC

USAJapanChinaIndia

190

1,000

2,000

3,000

4,000

5,000

6,000

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10e FY11e FY12e

Middle East, AfricaAustraliaAsiaChinaEurope, CISL.AmericaN.America

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000'82

'83

'84

'85

'86

'87

'88

'89

'90

'91

'92

'93

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10e

'11e

'12e

China

Others

Europe

N America

Japan

FY

0

50,000

100,000

150,000

200,000


Europe

N.America

Japan

0

50,000

100,000

150,000

200,000

250,000


L.America, Africa, OceaniaAsia, CIS, Middle EastChina

Traditional markets Strategic marketsUnits

Traditional

markets(Japan, N.America,

Europe)

Strategic markets(China, Asia, CIS, Middle

East, Latin America.

Africa, Oceania)

Estimates

Region Annual growth rate from FY09 to FY12

Traditional markets +10%

Strategic markets +16%

Worldwide +14%

< Estimated demand growth rate >


Demand for 7 major construction products

Mining equipment Units

Units

Units

20

0

200000

400000

600000

800000


Others

China

Europe

N.America

Japan

Demand for compact construction equipment Demand for compact construction equipment Units

0

100,000

200,000

300,000

400,000


Others

China

Europe

N.America

Japan

-5

0

5

10

15

20

25

30

'08/1Q

'08/10

'08/12

'09/2

'09/4

'09/6

'09/8

'09/10

'09/12

'10/2

-200%

-100%

0%

100%

200%

300%

400%

500%Sheet metal machinesPressesRate of growth

0

30

60

90

120

150

'08/1

Q

'08/3

Q

'08/1

1

'09/1

'09/3

'09/5

'09/7

'09/9

'09/1

1

'10/1

'10/3

-100%

0%

100%

200%

300%

400%

500%ExportJapanRate of growth


Demand for forklift trucks (class 1,4,5) Demand for forklift trucks (class 1,4,5) Units

Orders received for press and sheet metal

machines ( major Japanese makers)

Orders received for press and sheet metal

machines ( major Japanese makers)Orders received for machine tools

(major Japanese makers)

Orders received for machine tools

(major Japanese makers)

Billions of yen

per month

Billions of yen

per month

0

20,000

40,000

60,000

80,000

100,000

'01 '03 '05 '07 '09 '11 '13

Japan & Korea N.America

Europe & CIS China

Others

Automobile production by regionAutomobile production by regionUnits

21

- 44 manufacturing bases worldwide (12 in Japan, 7 in Americas, 8 in

Europe & CIS, 9 in Asia, 8 in China)

- Cross sourcing of machines & components

- Transferring technologies, skills and standards from “mother”

plants to “child” plants

Komatsu’s Strengths

1. Unique and competitive products 2. Global sales and service network

In-house component technologies( Engines, hydraulics, electric motors, electronic controls, etc. )

3. Flexible manufacturing operationInter-divisional collaboration and Kaizen

Sales &

service

R & DProduction- ”Build in quality”

- OX activities

- QC circles

- Skill training

Suppliers

Simultaneous

development

KaizenSales & Production Planning-Thorough inventory management

-Culture of daily efforts

-Global manufacturing operation

Up to the present Now on

Fuel efficien

cy

Hydraulic

excavator

Wheel loader

Dump truck

Bulldozer

Forklift truck

Industrial

machinery

IT

Small size : electronic controlled HST

KOMTRAX Plus

Biodiesel fuel

Small size : battery type

Middle size : HST

Hybrid excavator

Small size : electronic controlled HST

KOMTRAX、、、、KOMTAX Plus

IT-guided construction

Autonomous haulage system

Wire saw

AC servo press

Super large electric dump truck

: Countries with

Komatsu dealers

: Countries without

Komatsu dealers

205 dealers in 148 countries

covering areas with 99% of worldwide demand

22

4. New Mid-Range Management Plan

“Global Teamwork for Tomorrow”

23

9.5% 9.8%8.8%

12.8% 13.2%12.3%

14.9%

3.5%

7.2%

9.5%9.4%

2.6%

12.3% 13.3%

14.7%15.5%

14.3%

12.6%13.7%

4.6%

15.0%

0

200

400

600

800

FY05 1Q 2Q 3Q 4Q

FY06 1Q 2Q 3Q 4Q

FY07 1Q 2Q 3Q 4Q

FY08 1Q 2Q 3Q 4Q

FY09 1Q 2Q 3Q 4Q

FY10e(average)

FY11e(average)

FY12e(average)

0%

5%

10%

15%

20%

Operating profit operating profit ratio

FY05 '06 '07 '08 '09 '10 '11 '12

60

70

80

90

FY05 1Q 2Q 3Q 4Q

FY06 1Q 2Q 3Q 4Q

FY07 1Q 2Q 3Q 4Q

FY08　　　　1Q 2Q 3Q 4Q

FY09　　　　1Q 2Q 3Q 4Q

FY10e(average)

FY11e(average)

FY12e(average)

Consolidated sales & operating profit ratios

Fixed costs

Stance on Targets of “Global Teamwork for Tomorrow”

Continuously keep fixed costs low

1st stage 2nd stage

New mid-range management planGlobal Teamwork for 15

Actions for short-term tasks

Further reinforcement of profit structure

Margin ratio

Billions

of yen

-12.7%

Move The World

1 USD = 110 yen

Billions

of yen

[90] [90] [90]104 105 107117 113 95 95 97 93 90 91117 118 119 122114117118112108USD / JPY

USD rate 114yen 93yen 90yen

- 2007 - 2009 - 2012

Demand North America ◎→○ × △→○Europe ◎ × △China ○ △→○ ◎Asia &

resource countries○ △→○ ◎

Minig & parts ◎ ○ ◎Products Dantotsu ratio ○ ○→◎ ◎FOREX Traditional markets ◎ △ △

Strategic markets ○ △ △→○Sales price ○ ○ ○Costs Cost reduction ○ ○ ◎

Steel prices △ × △Capacity utilization ◎ × ○

Structural Productivity ○ △→○ ◎reform Fixed cost ratio ○ △ ○

24

Aiming at top-level profitability and financial position of the industry

Target Figures of “Global Teamwork for Tomorrow”

No. Items Target of FY2012 Results of FY2009

1 Consolidated operating income ratio 15% or above 4.7%

2 ROE 20% 4.1%

3 Net debt-to-equity ratio 0.4 or below 0.60

Net DER excluding retail finance business 0.2 or below 0.36

4 Consolidated payout ratio Stable dividend : 20 - 40% 38%(excluding structural reform expenses)

No. Items Assumptions in FY2012 Results of FY2009

1 Net sales (Billions of yen) 2,000 (+/- 100) 1,431.5

2 FOREX

USD/JPY 90 93

EUR/JPY 125 131

RMB/JPY 13.5 13.6

<Assumptions>

2525

Main Activities of “ Global Teamwork for Tomorrow”

No. Activities Aims

1Promotion of IT Applications to Products

and Parts■■■■ To enhance added value of products by applying IT.

2Product Development for Improved

Environmental Friendliness and Safety

■■■■ To upgrade our environmental responses with next-generation

technologies as an industry-leading company.

3Expansion of Sales and Service Operations

in Strategic Markets

■■■■ To further reinforce operations in growth markets to meet the

structural change of market demand.

4Promotion of Continuous Improvement by

Strengthening Workplace Capability

■■■■ To sustain and improve organizational capability for persistent

improvement in order to win the global competition.

2. Main activities of business operation

1. Main activities of management

No. Activities Aims

1 Promotion of Brand Management Activities

■■■■ To develop human resources through activities designed to build

and strengthen relationships with customers and the Komatsu Group

(Komatsu and distributors).

2Total Quality Management in Strategic

Markets (especially in China)

■■■■ To promote the growth of national staff members so that they will

become able to manage operations independently in growth markets.

26

5. Projection for FY2010 ending March 31, 2011

27

Outline of Projection for FY2010 ending March 31, 2011

2. Outlook of two business segments

- Construction, Mining and Utility Equipment

In addition to market demand increase in emerging markets, such as China and Asia, market demand should

gradually improve in North America and Europe. We project net sales will improve by 18.0% and segment profit

will double from FY2009.

- Industrial Machinery and Others

Market will remain challenging. We project sales will be up 0.8%, almost same as FY2009, but segment profit

will be down, because there were special factors in FY2009, such as reversal of allowance for doubtful receivables.

3. Cash dividends

- Annual cash dividends of 28 yen per share are projected.

(Consolidated payout ratio should translate into 30%

of net income)

Net sales 1,660.0 billion yen, up 16.0%

Operating income 157.0 billion yen, up 134.2%

Operating income ratio 9.5%, up 4.8 points

Income before income tax 149.0 billion yen, up 129.3%

Net income * 90.0 billion yen, up 168.2%

FY2009 FY2010 Increase

(decrease)

Interim 8 yen 14 yen * 6 yen *

Year-end 8 yen* 14 yen* 6 yen*

Total 16 yen* 28 yen* 12 yen*

* Projected

1. Sales and profits : Both sales and profits should improve from FY2009.

* Net income is comparable to net income attributable to Komatsu Ltd. as defined in the FASB Accounting Standards Codification (ASC) 810.

28

FY2009 1USD =93yen1EUR=131yen 1RMB=13.6yen

FY2010 Projection1USD = 90yen1EUR= 125yen1RMB= 13.5yen

Increase (decrease)

Net sales 1,431.5 1,660.0 228.4 16.0%


[1,268.5] 1,271.2[162.9] 178.6

[1,496.0] 1,500.0 [164.0] 180.0

[227.5] 228.7[1.1] 1.3

[17.9%] 18.0%[0.7%] 0.8 %

Elimination (18.3) (20.0) (1.6) -

Segment profit 80.7 165.0 84.2 104.4%


83.02.9

170.01.0

86.9(1.9)

104.7%(66.6)%

Corporate & elimination (5.3) (6.0) (0.6) -

Other operating income (expenses) (13.6) *1 (8.0)*2 5.6 -

Operating income 67.0 157.0 89.9 134.2%

Other income (expenses) (2.0) (8.0) (5.9) -

Income before income taxes 64.9 149.0 84.0 129.3%

Net income *3 33.5 90.0 56.4 168.2%

6.5%

1.7%

5.6%

Cash dividends per share 16 yen 28 yen 12 yen

11.3%

0.6%

9.9%

9.5%4.7%

Projection for FY2010 ending March 31, 2011

% : Profit ratio Billions of yen[ ] : Sales after elimination of inter-segment transactions

*1 Including structural reform expense of 12.0 billion yen. *2 Including structural reform expense of 4.0 billion yen.

*3 Upon adoption of the FASB Accounting Standards Codification (ASC) 810 (formerly SFAS No.160), “Net income” is equivalent to “Net income

attributable to Komatsu Ltd.”

29

20%

-21%-20%

15%

13%

16%

13%

22%

0

100,000

200,000

300,000

400,000

500,000

600,000

FY03

FY04

FY05

FY06

FY07

FY08

FY09

FY10est

-30%

-20%

-10%

0%

10%

20%

30%Japan N.America EuropeChina Others Growth ratio

309.8 228.5 225.0

247.8

135.5 155.0

184.1

90.2 95.0

214.5

170.5 185.0

89.1

31.755.0

179.2

244.5320.0

309.7

281.8

360.0

210.2

85.5

101.0

0

500

1,000

1,500

2,000

FY08 FY09 FY10est

ME & Africa

Asia & Oceania

China

CIS

L.America

Europe

N.America

Japan

Billions

of yen

1,744.7

CIS

4%

China

21%

Asia &

Oceania

24%

Latin

Amer ica

12%

ME &

Afr ica

7%

Japan

15%Nor th

Amer ica

11%

Europe

6%China

19% CIS

3%

Latin

Amer ica

13%

Europe

7%

Nor th

Amer ica

11%

Japan

18%Asia &

Oceania

22%

ME &

Afr ica

7%

FY09

Sales breakdownSales breakdown

Strategic

Markets

68%

Strategic

Markets

64%

Traditional

markets

32%

Traditional

markets

36%

：：：：Growth ratio

FY10est

100

113

131

148

170

136

Units

107

128

+18%-27%

1,268.5

1,496.0

[Demand breakdown] FY08 FY09 FY10e

Traditional markets : 47% 33% 29%

Strategic markets : 53% 67% 71%

Construction, Mining & Utility Equipment : Sales by Region and Segment Profit

Sales by region (To outside customers)Sales by region (To outside customers)Demand for 7 major products by regionDemand for 7 major products by region

Index : FY03 = 100

30

170.0

83.0

0

50

100

150

200

250

FY2009 FY2010

Projection

Exchange

rate

difference

-10.0

Fixed

costs

difference

0.0

11.3％

Selling price,

cost reduction,

material price

and others

25.9

Positive factor

205

Billions

of yen


Index : FY2009 results = 100

Profit increase of 86.9 billion yen

Volume

difference

71.0

100

6.5％

[Positive factors]

- Volume difference : +71.0 billion yen

- Selling price, cost reduction, material price

and others : + 25.9 billion yen

- Fixed costs difference : +/- 0.0 billion yen

[Negative factor]

- Exchange rate difference : - 10.0 billion yen

FY2008 FY2009

1USD 93 yen 90 yen

1EUR 131 yen 125 yen

1RMB 13.6 yen 13.5 yen

Exchange

rates

Construction, Mining & Utility Equipment: Causes for Difference in Segment Profit

Negative factor

31

0

1,000

2,000

3,000

4,000

5,000

6,000

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10e

ME & Africa

Australia

Asia

China

Europe&CIS

L.America

N.America

0

250

500

750

'08.3

'09.3

'09.6

'09.9

'09.12

'10.3

0

250

500

750

'08.3

'09.3

'09.6

'09.9

'09.12

'10.3

0

250

500

750

'08.3

'09.3

'09.6

'09.9

'09.12

'10.3

Units

0

1,000

2,000

3,000

4,000

5,000

FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10e

Millions

of USD+3%

+19%

+12%

+52%

+67%

- 33%+15%

-4%+6%

6mos 4mos 12mos 6mos 12mos 10mos

Construction, Mining & Utility Equipment : Mining Equipment Business

Demand by region Demand by region Sales of mining equipmentSales of mining equipment

* Incl. sales of parts and service

(Internal-use data)

Backlog ordersBacklog orders

[Applicable products]・・・・Dump trucks: 75t （（（（HD785）））） and larger・・・・Bulldozers: 525HP （（（（D375）））） and larger ・・・・Hydraulic excavators: 150t （（（（PC1600）））） and larger・・・・Wheel loaders: 500HP （（（（WA700）））） and larger ・・・・Motor graders: 280HP （（（（GD825）））） and larger

* Finished products only. Excl. parts and service Lead-time from order to shipment

Komatsu Ltd. (non-consolidated)Mining equipment related

Komatsu America Corp. Mining Div.

Komatsu Mining Germany GmbHMillions

of USDMillions

of EUR

Billions

of yen

32

303.3

178.6 180.0

0

100

200

300

FY2008 FY2009 FY2010 Projection

12.8

1.02.9

0

10

20

30

FY2008 FY2009 FY2010 Projection

0

6

12

18

4.2 %

Sales

FY2009 FY2010 Projection Increase (decrease)

Komatsu Industries* 42.7 33.6 (9.1)

Komatsu NTC 51.2 62.3 11.1

Consolidation adjustment of Komatsu NTC 2.9 0.0 (2.9)

Others 81.8 84.1 2.3

Total 178.6 180.0 1.4

0.6 %

1.7 %

Industrial Machinery & Others : Sales and Segment Profit

%

Breakdown of sales (FY2009 vs. FY2010 Projection)Breakdown of sales (FY2009 vs. FY2010 Projection)

Segment profitSegment profitBillions

of yen

Billions

of yen

Billions of yen

SalesSales


* Komatsu Industries succeeded to Komatsu’s large press business by means of corporate split effective April 1, 2010.

33

-50

50

150

250

350

450

0

10

20

30

40

50

FY2009 FY2010 Projection

Rvenues

Profit before tax352.3 351.1

33.6

6.1

3.8

35.2North America(off balance)

North America

(on balance)

Others

China

Europe

Japan

Elimination

Others

China

Europe

Japan

Elimination

Australia

North America(off balance)

North America

(on balance)

Australia

Billions

of yen

Billions

of yen

1. Assets 2. Revenues

Consolidated retail finance subsidiaries (internal-use data)Consolidated retail finance subsidiaries (internal-use data)

Retail Finance Business

End of March, 2010 End of March, 2011

(1USD) 93 yen 90 yen (1EUR) 125 yen 125 yen (1RMB) 13.6 yen 13.5 yen

(1USD) 93 yen 90 yen(1EUR) 131 yen 125 yen (1RMB) 13.6 yen 13.5 yen

34

47.0 38.0 41.3

6.06.2

6.7

2.9%3.1%

2.7%

0

50

100

FY2008 FY2009 FY2010

Projection

-2.0%

0.0%

2.0%

4.0%

Industrial Machinery & OthersConstruction, Mining & Utility EquipmentR&D expenses ratio

101.5

61.150.4

1.8

8.6

2.8 57.4

55.354.1

0

50

100

150

FY2008 FY2009 FY2010

Projection



Depreciation

110.1

63.9

53.7

52.247.6

44.1

* Excluding investment in

rental assets

16%19% 17%

0

100

200

300

400

500

FY2008 FY2009 FY2010

Projection

-100%-98%-96%-94%-92%-90%-88%-86%-84%-82%-80%-78%-76%-74%-72%-70%-68%-66%-64%-62%-60%-58%-56%-54%-52%-50%-48%-46%-44%-42%-40%-38%-36%-34%-32%-30%-28%-26%-24%-22%-20%-18%-16%-14%-12%-10%-8%-6%-4%-2%0%2%4%6%8%10%12%14%16%18%20%22%24%26%28%30%

Fixed costs Fixed costs ratio

Capital Expenditures, Depreciation, R&D Expenses and Fixed Costs

Investment in production and

other facilities,* and

depreciation

Investment in production and

other facilities,* and

depreciation

Billions

of yen

R&D expensesR&D expenses

Billions

of yen

Fixed costsFixed costs

Billions

of yen

35

6. Activities of Importance in “Global Teamwork for Tomorrow”

36

1. Evolution of KOMTRAX1. Evolution of KOMTRAX

2. Evolution of Autonomous Haulage System2. Evolution of Autonomous Haulage System

1) KOMTRAX

2) KOMTRAX Plus (formerly VHMS)

Expanding applications to parts & service operations for

mining equipment

i) Unification of Machine Management

- Unified management of VHMS-installed machines on KOMTRAX display

ii) Prediction and management of maintenance timing

(Management of parts, UC, GET)

Evolution of uses by distributors and customers

-- Making operation “visible”

i) Business expansion

ii) Application to large-scale fleet

Activities of Importance (1): IT Applications to Products and Parts

3) Application of KOMRAX to Forklift Trucks

and Expansion of Industrial Machinery-

version KOMTRAX-installed Machines

Internet

Data server

Web server

Customers

37

Activities of Importance (2): Product Development for Improved Environmental Friendliness and Safety

To expand the model range of hybrid construction

equipment and their sales.

- 30-ton hydraulic excavator

- Wheel loaders, etc.

Timely introduction of Tier4-certified models

Variable Geometry Turbo

Charger

DPF

(Diesel Particulate Filter)

Achievement in reducing both toxic substances and fuel consumption

Outstanding reduction of black smoke and noise

Tier4-certified engine (developed)

(1) To reduce CO2 emissions.

- Promotion of the biodiesel fuel project

(2) To develop safety technology.

- Surrounding area monitoring, detection of

drowsy driving, collision detection, etc.

3. Reduction of CO2 emissions from mining

equipment and safety technology

3. Reduction of CO2 emissions from mining

equipment and safety technology

4. Development of environment-friendly forklift

trucks

4. Development of environment-friendly forklift

trucks

5. Development of environment-friendly

industrial machinery

5. Development of environment-friendly

industrial machinery

(1) Small: Next-generation electric models

(2) Medium-sized: Hydrostatic transmission-equipped

models

(1) To develop and launch next-generation AC

Servo presses.

(2) To meet growing demand for clean energy

by improving the performance of wire saws.

1. Reduction of CO2 emissions

from construction equipment

1. Reduction of CO2 emissions

from construction equipment

2. Meeting Tier4 emission regulations2. Meeting Tier4 emission regulations

38

(1) Introduction of distributor management system.(China �� Extending to other regions)

(2) Development of key managers of distributors. (Continuation of the Global Training Institute)

(3) Development of global engineers at the KomatsuH.R.D. Center (Philippines).

(4) Improvement of service engineer training.

Activities of Importance (3): Expansion of Sales and Service Operations in Strategic Markets

[Background]Increased amount of delivered

units in strategic markets and

mines

Expand product support

capability in strategic markets.- Ensure no downtime of delivered machines.

- Build stable earnings base.

1. Expansion of sales of strategic parts

(GET, UC, Reman, routine replacement parts and wear-out parts)

1. Expansion of sales of strategic parts

(GET, UC, Reman, routine replacement parts and wear-out parts)

(1) Expansion of production capacity with a new plant for buckets.

(2) Reinforcement of global Reman operation.(3) Quality improvement of locally procured genuine wear-out parts. �� Sales expansion by enhancingtheir market competitiveness.

2. Parts and service operation linked directly with

jobsites

2. Parts and service operation linked directly with

jobsites

(1) Enhancement of next-morning delivery ratio byincreasing parts depots.

(2) Reinforcement of product support capability by increasing support centers.

(3) Clear definitions of the responsibilities of Komatsu Ltd. and distributors.- Functional parts, quality-assured components and Reman components will be stocked in parts depots around the world under Komatsu's responsibility.- Wear-out parts will be stocked by distributors based on sales and production planning.

3. Reinforcement of distributors and human resource development3. Reinforcement of distributors and human resource development

[Basic Principle]

Build the Win-Win-Win

relationship among customers,

distributors and Komatsu.

Graduates of the 8th service engineering program at

Shandong Jiaotong University in China

39

Activities of Importance (4): Promotion of Continuous Improvement by Strengthening Workplace Capability

“Workplace capability” = Group’s continuous Kaizen capability by discovering issues and solving them

[ Attitude ]- Never be content with

the status quo but define

tasks.

[ Methods ]- Making it “visible”

- Cross-organizational

teamwork

[ Aim ]- Human resource

development

1. Stance

2. Activities

No. Items Contents

1

Further promotion of flexible

global manufacturing

operation

(1) Global cross-sourcing of products and parts

(2) Making all phases “visible” from production and inventory to sales.

(3) Optimization of logistics (packing, transportation efficiency, utilization of

port-adjacent plants)

2Promotion of DANTOTSU

reduction of production costs

(1) Concentrated reduction of production costs of strategic models

(2) Manpower shift from conventional to strategic markets

3Reduction of fixed costs by

reforming administrative work

(1) Work reforms by applying IT

(2) Consolidation of systems

40

＜＜＜＜Appendix＞＞＞＞

41

FY2008 FY2009 Increase (decrease)

Net salesSegment

profitNet sales

Segment

profitNet sales

Segment

profit

Japan 959.3 26.4 565.5 (21.6) (393.8) (48.1)

Americas 494.8 51.8 344.1 33.9 (150.6) (17.8)

Europe & CIS 293.3 22.1 161.8 10.4 (131.4) (11.7)

Others 472.9 60.0 482.0 59.3 9.0 (0.6)

Total 2,220.5 160.5 1,553.6 82.0 (666.9) (78.4)

Elimination (471.1) 19.9 (282.3) 0.9 188.7 (18.9)

Consolidated 1,749.3 180.4 1,271.2 83.0 (478.1) (97.3)

Construction, Mining & Utility Equipment : Sales and Segment Profit by Region (Geographic Origin)

Billions of yen

42

81.4 80.3 78.7

94.0

81.6 77.7

41.5

-12.3

8.412.9

20.8

38.5

9.0%

5.8%4.0%

2.6%

-3.2%

9.6%

12.9%13.5%

15.3%14.3%

14.9%15.1%

-20

0

20

40

60

80

100

120

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

-5%

0%

5%

10%

15%

20%

25%

30%Segment profitSegment profit ratio

Billions

of yen

Quarterly Segment Profit: Total

Exchange

rates



15.2yen 15.7yen 13.9yen 13.9yen



14.2yen 13.6yen 13.2yen 13.3yen

1USD

1EUR

1RMB



15.9yen 15.5yen 15.3yen 14.6yen

FY ended March 2008 FY ended March 2009 FY ended March 2010

43

38.9

23.3

7.4

-7.639.3

78.2 74.5 74.7

90.378.3

70.3

13.3

10.2%

13.6%14.6%

16.1%14.9%15.2%15.6%

10.4%

7.4%4.7%

2.6%

-2.4%-20

0

20

40

60

80

100

120

FY07/1Q FY07/2Q FY07/3Q FY07/4Q FY08/1Q FY08/2Q FY08/3Q FY08/4Q FY09/1Q FY09/2Q FY09/3Q FY09/4Q -3%

0%

3%

6%

9%

12%

15%

18%Segment profit


382.7317.5285.5285.4317.0

379.3

517.4535.4560.6501.7489.2503.1

0

100

200

300

400

500

600

FY07/1Q FY07/2Q FY07/3Q FY07/4Q FY08/1Q FY08/2Q FY08/3Q FY08/4Q FY09/1Q FY09/2Q FY09/3Q FY09/4Q

Construction, Mining & Utility Equipment: Quarterly Sales and Segment Profit


Quarterly segment profitQuarterly segment profit

Billions

of yen

07/1Q 07/2Q 07/3Q 07/4Q



15.9yen 15.5yen 15.3yen 14.6yen

08/1Q 08/2Q 08/3Q 08/4Q



15.2yen 15.7yen 13.9yen 13.9yen

1USD

1EUR

1RMB

Exchange

rates

Billions

of yen

09/1Q 09/2Q 09/3Q 09/4Q



14.2yen 13.6yen 13.2yen 13.3yen

44

0.7-1.32.8-3.42.3

3.86.4

4.9 4.7 4.7

9.1

0.7

1.5%

9.6%

6.1%7.5%

9.2%

11.4%

8.7%

4.0%

-3.2%

1.8%

7.2%

-4.8%-5

0

5

10

15


-5%

0%

5%

10%

15%Segment profit


49.844.044.939.7

58.8

95.3

78.7

63.853.356.9

43.5

70.4

0

25

50

75

100


Industrial Machinery & Others : Quarterly Sales and Operating Income


Quarterly segment profitQuarterly segment profit

07/1Q 07/2Q 07/3Q 07/4Q



15.9yen 15.5yen 15.3yen 14.6yen

08/1Q 08/2Q 08/3Q 08/4Q



15.2yen 15.7yen 13.9yen 13.9yen

1USD

1EUR

1RMB

Exchange

rates09/1Q 09/2Q 09/3Q 09/4Q

97yen 93yen 90yen 91Yen


14.2yen 13.6yen 13.2yen 13.3yen

Billions

of yen

Billions

of yen

45

Cautionary Statement

This presentation sheets contain forward-looking statements that reflect management’s views and assumptions in the light of information

currently available with respect to certain future events, including expected financial position, operating results and business strategies. These

statements can be identified by the use of terms such as ”will,” “believes,” “should,” “projects,” “plans,” “expects,” and similar terms and

expressions that identify future events or expectations. Actual results may differ materially from those projected, and the events and results of

such forward-looking assumptions cannot be assured. Any forward-looking statements speak only as of the date of this presentation sheets, and

Komatsu assumes no duty to update such statements.

Factors that may cause actual results to differ materially from those predicted by such forward-looking statements include, but are not limited

to, unanticipated changes in demand for the Company’s principal products, owing to changes in the economic conditions in the Company’s

principal markets; changes in exchange rates or the impact of increased competition; unanticipated costs or delays encountered in achieving the

Company’s objectives with respect to globalized product sourcing and new information technology tools; uncertainties as to the results of the

Company’s research and development efforts and its ability to access and protect certain intellectual property rights; the impact of regulatory

changes and accounting principles and practices; and the introduction, success and timing of business initiatives and strategies.

CORPORATE PLANNING, KOMATSU LTD.

TEL: +81-3-5561-2687

FAX: +81-3-3582-8332

E-MAIL: [email protected]

http://www.komatsu.com/

PC200-8 hybrid hydraulic excavator

operating in China

Business Results for FY2009 ended March 31, 2010, Tasks ... · PDF fileTasks and Projection...

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