02 05-14 komatsu results-q3-1

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02 05-14 komatsu results-q3-1

  1. 1. 1 Business Results for Three and Nine Months ended December 31, 2013 Earnings Presentation for Three and Nine Months ended December 31, 2013 January 29, 2014 Komatsu Ltd. Participants Tetsuji Ohashi President and CEO Mikio Fujitsuka Director and Senior Executive Officer, CFO Akira Sugiki Senior Executive Officer General Manager, Business Coordination Department(Speaker)
  2. 2. 2 Business Results for Three and Nine Months ended December 31, 2013 1. Results for Three Months ended December 31, 2013
  3. 3. 3 Business Results for Three and Nine Months ended December 31, 2013 Oct.-Dec., 2012 (3Q FY12) USD1 = JPY80.1 EUR1 = JPY103.5 RMB1 = JPY12.8 Oct.-Dec., 2013 (3Q FY13) USD1 = JPY99.7 EUR1 = JPY135.1 RMB1 = JPY16.3 Changes Increase (decrease) Change (%) Net sales 419.7 464.3 44.6 +10.6% - Construction, mining & utility equipment - Industrial machinery & others [367.9] 368.4 [51.7] 53.4 [420.0] 420.7 [44.3] 45.3 [52.0] 52.2 [(7.4)] (8.1) [+14.2%] +14.2% [-14.4%] -15.2% - Elimination (2.1) (1.6) 0.5 - Segment profit 39.7 54.6 14.8 +37.3% - Construction, mining & utility equipment - Industrial machinery & others 38.8 0.5 58.3 (3.6) 19.5 (4.2) +50.3% - - Corporate & elimination 0.4 (0.0) (0.4) - Other operating income (expenses) (0.5) 2.0 2.6 - Operating income 39.2 56.6 17.4 +44.5% Other income (expenses) 0.9 0.9 0.0 - Income before income taxes 40.2 57.6 17.4 +43.4% Net income *2 24.9 36.5 11.5 +46.2% 10.5% 1.0% 9.5% % : Profit ratio 9.3% Sales and Profits for Three months (October-December, 2013) *1 Including the loss of write-off of Komatsu NTC’s wire saw inventories in the amount of JPY 7.6 billion. *2 Upon adoption of ASC 810, “Net income” is equivalent to “Net income attributable to Komatsu Ltd.” - Third quarter sales advanced by 10.6% from the corresponding period a year ago, to JPY464.3 billion, supported especially by increased sales in Japan where demand remained strong for construction equipment, and in China where demand upturned for recovery, which compensated for the effects of sluggish demand for mining equipment. - Third quarter operating income expanded by 44.5% from the corresponding period a year ago, to JPY56.6 billion, and net income by 46.2% to JPY36.5 billion. *1 13.9% (8.1)% 11.8% 12.2% [ ]: Sales after elimination of inter-segment transactions Billions of yen
  4. 4. 4 Business Results for Three and Nine Months ended December 31, 2013 Construction, Mining & Utility Equipment:Breakdown of Sales (to Outside Customers) for Three Months(Oct.-Dec.,2013) Breakdown of sales by region Oct.-Dec., 2012 (3Q FY12) Oct.-Dec., 2013 (3Q FY13) Changes Increase (decrease) Change (%) Traditional Markets Japan 76.0 95.6 19.5 +25.7% North America 56.0 65.2 9.1 +16.3% Europe 22.8 28.0 5.2 +22.9% Strategic Markets Latin America 62.9 62.6 (0.3) -0.5% CIS 24.4 16.1 (8.3) -34.0% China 20.4 39.5 19.1 +93.3% Asia 34.7 43.3 8.6 +24.8% Oceania 43.5 32.1 (11.4) -26.3% Middle East 4.4 9.0 4.6 +104.2% Africa 22.2 28.1 5.9 +26.5% Total 367.9 420.0 52.0 +14.2% Mining equipment in total above 139.1 107.2 (31.9) -22.9% While demand for mining equipment remained sluggish, good sales further expanded in Japan, and sales also increased in China where demand was recovering and in the Middle East and Africa where demand was growing. Third quarter sales of construction, mining and utility equipment increased by 14.2% from the corresponding period a year ago, to JPY420.0 billion. Japan 21% North America 15% Europe 6% Latin America 17% CIS 7% China 6% Asia 9% Oceania 12% Middle East 1% Africa 6% Oct.-Dec., 2012 Traditional Markets 42% Strategic Markets 58% Japan 23% North America 15% Europe 7% Latin America 15% CIS 4% China 9% Asia 10% Oceania 8% Middle East 2% Africa 7% Traditional Markets 45% Strategic Markets 55% Oct.-Dec., 2013 Billions of yen
  5. 5. 5 Business Results for Three and Nine Months ended December 31, 2013 2. Results for the Nine Months ended December 31, 2013
  6. 6. 6 Business Results for Three and Nine Months ended December 31, 2013 Apr.-Dec., 2012 USD1 = JPY79.8 EUR1 = JPY102.1 RMB1 = JPY12.7 Apr.-Dec., 2013 USD1 = JPY98.5 EUR1 = JPY130.5 RMB1 = JPY16.1 Changes Increase (decrease) Change (%) Net sales 1,350.5 1,389.5 38.9 +2.9% - Construction, mining & utility equipment - Industrial machinery & others [1,205.6] 1,207.6 [144.9] 150.6 [1,248.8] 1,250.7 [140.6] 144.9 [43.2] 43.1 [(4.2)] (5.7) [+3.6%] +3.6% [-2.9%] -3.8% - Elimination (7.6) (6.1) 1.4 - Segment profit 151.0 163.7 12.6 +8.4% - Construction, mining & utility equipment - Industrial machinery & others 148.3 3.8 164.1 1.1 15.7 (2.7) +10.6% -70.7% - Corporate & elimination (1.1) (1.5) (0.4) - Other operating income (expenses) (0.5) 1.9 2.5 - Operating income 150.4 165.6 15.1 +10.1% Other income (expenses) (4.9) 4.4 9.4 - Income before income taxes 145.5 170.1 24.5 +16.9% Net income 91.0 115.3 24.2 +26.6% 12.3% 2.5% 11.2% 11.1% 13.1% 0.8% 11.8% 11.9% For the nine-month period, consolidated sales increased by 2.9% from the corresponding period a year ago, to JPY1,389.5 billion, mainly supported by increased sales of construction equipment in Japan and China, which compensated for the effects of sluggish demand for mining equipment. Similarly, operating income advanced by 10.1% to JPY165.6 billion, and net income by 26.6% to JPY115.3 billion. *1 *2 Sales and Profits for Nine Months (April-December, 2013) % : Profit ratio [ ]: Sales after elimination of inter-segment transactions Billions of yen *1 Including the loss of write-off of Komatsu NTC’s wire saw inventories in the amount of JPY 7.6 billion. *2 Upon adoption of ASC 810, “Net income” is equivalent to “Net income attributable to Komatsu Ltd.”
  7. 7. 7 Business Results for Three and Nine Months ended December 31, 2013 207.1 208.5 245.7 172.2 181.9 201.5 89.9 73.8 85.3 149.4 195.7 183.757.2 65.6 51.9149.8 82.9 112.3 235.4 165.6 135.3 110.7 142.7 119.3 28.3 18.7 36.2 64.7 69.7 77.4 0 400 800 1,200 1,600 Apr.-Dec., 2011 Apr.-Dec., 2012 Apr.-Dec., 2013 Africa Middle East Oceania Asia China CIS Latin America Europe North America Japan 1,248.81,265.1 While the percentage of sales in Oceania, Asia and Latin America declined in total sales against the backdrop of declined demand for mining equipment, that of Traditional Markets increased, driven by expanded sales in Japan with strong demand. Japan North America Europe Latin America CIS China Asia Oceania Middle East Africa Total Apr.-Dec.,2012 +0.7% +5.7% -17.9% +31.0% +14.8% -44.6% -29.6% +28.9% -33.9% +7.8% -4.7% Apr.-Dec.,2013 +17.8% +10.8% +15.6% -6.1% -20.9% +35.3% -18.3% -16.4% +93.7% +10.9% +3.6% +3.6% 1,205.6 - 4.7 % Japan 17% North America 15% Europe 6%Latin America 16% CIS 5% China 7% Asia 14% Oceania 12% Middle East 2% Africa 6% Strategic Markets 62% Traditional Markets 38% Japan 20% North America 16% Europe 7% Latin America 15% CIS 4% China 9% Asia 11% Oceania 9% Middle East 3% Africa 6% Apr.-Dec., 2013 Strategic Markets 57% Traditional Markets 43% Year-on-year growth rate of sales by region USD1 = JPY78.7 EUR1 = JPY110.6 RMB1 = JPY12.3 USD1 = JPY79.8 EUR1 = JPY102.1 RMB1 = JPY12.7 USD1 = JPY98.5 EUR1 = JPY130.5 RMB1 = JPY16.1 Sales by region (To outside customers)Billions of yen : Year-on-year growth rate Breakdown (%) Construction, Mining & Utility Equipment: Sales (to Outside Customers) by Region (Apr. – Dec., 2013) Apr.-Dec., 2012
  8. 8. 8 Business Results for Three and Nine Months ended December 31, 2013 Construction, Mining & Utility Equipment: Causes of Difference in Segment Profit (Apr.-Dec., 2013) Total : +15.7 bn yen 148.3 164.1 0 50 100 150 200 Apr.-Dec., 2012 Apr.-Dec., 2013 Positive factor Negative factor 13.1%12.3% USD1= JPY98.5 EUR1= JPY130.5 RMB1= JPY16.1 USD1= JPY79.8 EUR1= JPY102.1 RMB1= JPY12.7 +15.7 bn Segment profit ratio Foreign exchange rates +47.6 Fixed costs +6.0 Selling prices +13.7 Volume difference & others (51.6) Changes in segment profit (Apr.-Dec., 2012 vs. Apr.-Dec., 2013) <Positive factors> - Selling prices :+13.7 bn yen - Fixed costs : +6.0 bn yen - Foreign exchange rates: +47.6 bn yen <Negative factor> - Volume difference & others : (51.6) bn yen - A negative difference of JPY51.6 billion in volume and others caused by the declines in demand and sales was compensated for by the positive differences in selling prices, fixed costs and foreign exchange rates, resulting in a net positive difference of JPY15.7 billion in segment profit for the nine-month period. - Segment profit ratio increased by 0.8 percentage points to 13.1% for the nine-month period. Segment profit : Segment profit ratio Sales before elimination of inter-segment transactions 178.9 148.3 164.1 0 5 10 15 20 0 50 100 150 200 Apr.-Dec., 2011 Apr.-Dec., 2012 Apr.-Dec., 2013 13.1% % 14.1% 12.3% Billions of yen Billions of yen
  9. 9. 9 Business Results for Three and Nine Months ended December 31, 2013 0 20 40 60 80 FY11/3 6 9 12 FY12/3 6 9 12 FY13/3 6 9 12 Backlog orders Orders received (quarterly) 189.4 150.6 144.9 0 50 100 150 200 Apr.-Dec., 2011 Apr.-Dec., 2012 Apr.-Dec., 2013 16.7 3.8 1.1 0 5 10 15 0 6 12 18 Apr.-Dec., 2011 Apr.-Dec., 2012 Apr.-Dec., 2013 2.5% % 0.8% 8.8% Apr.-Dec.,2012 Apr.-Dec.,2013 Increase (decrease) Komatsu Industries Corp., etc. [total of press and sheet-metal machines] 33.4 37.6 4.2 Komatsu NTC Ltd. [represented by wire saws] 56.5 [6.1] 47.3 [2.8] (9.2) [(3.2)] Others [represented by Gigaphoton ] [represented by Komatsu House] 60.6 [15.5] [10.6] 59.9 [17.2] [10.7] (0.7) [1.7] [0.1] Total 150.6 144.9 (5.7) - While sales of machine tools, as well as sheet-metal and press machines remained firm, especially to the automobile manufacturing industry, nine-month sales slightly declined from the corresponding period a year ago. - Komatsu realized write-off of Komatsu NTC’s inventories of wire saw parts in the amount of JPY7.6 billion for the third quarter period. - Backlog orders remained stable. 0 20 40 60 80 FY11/3 6 9 12 FY12/3 6 9 12 FY13/3 6 9 12 Backlog orders Orders received (quarterly) Industrial Machinery & Others: Sales, and Segment Profit and Backlog Orders Sales Segment profit Segment profit ratio Backlog orders Komatsu Industries Corp. Komatsu NTC Ltd. (excl. wire saws) Billions of yen Billions of yen Billions of yen Billions of yen Breakdown of sales Billions of yen
  10. 10. 10 Business Results for Three and Nine Months ended December 31, 2013 Japan Japan Japan Europe Europe Europe China China China Oceania Oceania Oceania Others Others Others North America North America North America 0 100 200 300 400 500 600 700 Retail Finance Business 37.6 49.8 9.2 10.7 0 10 20 30 40 50 60 Apr.-Dec., 2012 Apr.-Dec., 2013 Revenues Pretax income 2. Revenues1. Assets Billions of yen - Total assets at December 31, 2013 increased from the previous fiscal year-end, affected by the Japanese yen’s depreciation and increased new transactions, mainly in North America. - Both nine-month revenues and pretax income increased from the corresponding period a year ago. 455.2 Consolidated retail finance subsidiaries 579.9 Dec. 31, 2012 USD1= JPY86.6 EUR1= JPY114.7 RMB1= JPY13.9 524.9 Mar 31, 2013 USD1= JPY94.1 EUR1= JPY120.7 RMB1= JPY15.2 Dec. 31, 2013 USD1= JPY105.4 EUR1= JPY145.1 RMB1= JPY17.4 Billions of yen USD1= JPY79.8 EUR1= JPY102.1 RMB1= JPY12.7 USD1= JPY98.5 EUR1=JPY130.5 RMB1= JPY16.1
  11. 11. 11 Business Results for Three and Nine Months ended December 31, 2013 Consolidated Balance Sheets - Total assets at December 31, 2013 increased by JPY203.4 billion from the previous fiscal year-end, mainly due to the Japanese yen’s depreciation. - Shareholders’ equity ratio improved to 49.8%, and net debt-to-equity ratio to 0.44, from the previous fiscal year-end. Mar.31,2013 USD1 = JPY94.1 EUR1 = JPY120.7 RMB1 = JPY15.2 Dec.31,2013 USD1 = JPY105.4 EUR1 = JPY145.1 RMB1 = JPY17.4 Increase (decrease) Cash & deposits (incl. time deposits) [a] Accounts receivable (incl. long-term trade receivables) <Excl. those of consolidated retail finance subsidiaries> Inventories Tangible fixed assets Other assets 93.8 842.7 <414.3> 633.6 585.2 362.4 111.0 843.2 <393.2> 728.2 645.9 392.8 17.1 0.5 <(21.0)> 94.5 60.7 30.4 Total assets 2,517.8 2,721.3 203.4 Accounts payable 226.2 234.8 8.6 Interest-bearing debt [b] 679.7 704.6 24.8 <Excl. those of consolidated retail finance subsidiaries> <298.1> <291.3> <(6.7)> Other liabilities 359.1 364.1 5.0 Total liabilities 1,265.1 1,303.7 38.5 [Shareholders’ equity ratio] Komatsu Ltd. shareholders’ equity (47.4%) 1,193.1 (49.8%) 1,354.5 (+2.4 points) 161.3 Non controlling interests 59.5 63.0 3.5 Liabilities & Equity 2,517.8 2,721.3 203.4 Interest-bearing debt, net [b-a] 585.9 593.6 7.7 Net D/E ratio (excl. cash and interest-bearing debt of consolidated retail finance subsidiaries) 0.44 0.16 0.49 0.20 Billions of yen : Net debt-to-equity ratio
  12. 12. 12 Business Results for Three and Nine Months ended December 31, 2013 3. Current Demand for Construction and Mining Equipment by Region and Business Segment and Our Business Outlook
  13. 13. 13 Business Results for Three and Nine Months ended December 31, 2013 +22% +13% +16% +13% +15% -20% -20% +45% +5% -7% -60% -40% -20% 0% 20% 40% 60% 0 100,000 200,000 300,000 400,000 500,000 600,000 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Japan North America Europe China Others Y-O-Y growth rate Construction, Mining & Utility Equipment: Demand and Outlook for 7 Major Products 100 80 Units 64 92 97 - In the third quarter, while demand for mining equipment remained sluggish, overall demand for construction and mining equipment increased by 6% from the corresponding period a year ago, mainly supported by increased demand in Japan where demand remained strong and in China where market conditions upturned for recovery. - With respect to full-year demand in FY2013, we are keeping our projection of October 2013, i.e., a decline of 2% to 7% from FY2012. - Concerning full-year demand in FY2014, we anticipate that it will be comparable to FY2013. 91 84 to 88 -2% to -7% Units Quarterly demand for 7 major products Annual demand for 7 major products Growth rate Growth rate Demand: Estimated by Komatsu Index : FY2007=100 -32% -48% -47% -42% -6% +53% +63% +46% +40% +36% +11% +14% +7% -7% -1% -1% -9% -14% -3% +1% +6% -60% -30% 0% 30% 60% 90% 0 30,000 60,000 90,000 120,000 150,000 3QFY08 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q Japan North America Europe China Others Y-O-Y growth rate
  14. 14. 14 Business Results for Three and Nine Months ended December 31, 2013 0 4,000 8,000 12,000 16,000 -100% -50% 0% 50% 100% 1QFY07 2Q 3Q 4Q 1QFY08 2Q 3Q 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q 4Q Demand (units) Y-O-Y growth rate 0 4,000 8,000 12,000 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q Komatsu Group rental Nationwide/local independent rental Ownership 0 10,000 20,000 30,000 -60% -40% -20% 0% 20% 40% 60% 1QFY05 2Q 3Q 4Q 1QFY06 2Q 3Q 4Q 1QFY07 2Q 3Q 4Q 1QFY08 2Q 3Q 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q 4Q Demand (units) Y-O-Y growth rate 0% 20% 40% 60% 80% 100% FY07 FY08 FY09 FY10 FY11 FY12 Apr.-Dec., 2012 Apr.-Dec., 2013 Distributors' rental Independent rental Mining & energy Road Construction Others Construction, Mining & Utility Equipment: Demand in Major Markets (1)Japan & North America Y-O-Y growth rate ↓ Ownership 100 127 60 61 80 Index 3Q FY07=100 40 90 Y-O-Y growth rate Demand for hydraulic excavators (Rental & ownership) +49% Rental 2Q (Jul.- Sep.): Y-O-Y +41% 3Q (Oct.-Dec.): Y-O-Y +41% Japan <Demand for 7 major products> Breakdown of demand by segment (Unit based) Index 3Q FY05=100 100 7696 62 50 78 76 37 70 Y-O-Y growth rate Y-O-Y growth rate +10% Rental Others -20% 2Q (Jul.-Sep.): Y-O-Y -2% 3Q (Oct.-Dec.): Y-O-Y +/- 0% North America +40% FY13 Projection: +15% to +20% (As of Oct.2013) FY13 Projection: +/- 0% to -5% (As of Oct. 2013) Units Units Units <Demand for 7 major products> Japan: Third quarter demand expanded, fueled by increased construction investment and full-scale reconstruction works in the earthquake and tsunami destroyed-regions, as well as expanded purchase of equipment by customers who have looked into stricter emission regulations for the near future. Third quarter demand climbed by 41% from the corresponding period a year ago. North America: Third quarter demand was comparable to the corresponding period a year ago, supported by increased demand in the housing and energy sectors, while demand in the rental industry remained sluggish.
  15. 15. 15 Business Results for Three and Nine Months ended December 31, 2013 0 10,000 20,000 30,000 40,000 50,000 -50% 0% 50% 100% 150% 200% 250% 1QFY07 2Q 3Q 4Q 1QFY08 2Q 3Q 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q 4Q Demand(units) Y-O-Y growthrate 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 1QFY08 2Q 3Q 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q 4Q Forest Agro Construction Mining 0 4,000 8,000 12,000 16,000 20,000 24,000 Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. FY13 Projection FY12 FY11 FY10 0 3,000 6,000 9,000 12,000 -80% -40% 0% 40% 80% 120% 160% 1QFY07 2Q 3Q 4Q 1QFY08 2Q 3Q 4Q 1QFY09 2Q 3Q 4Q 1QFY10 2Q 3Q 4Q 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q 4Q Indonesia Other countries Malaysia Thailand Y-O-Y growth rate Construction, Mining & Utility Equipment: Demand in Major Markets (2) China, Southeast Asia China: Demand for construction equipment (made by foreign makers) upturned for recovery in the first quarter of FY2013 and has been increasing year-on-year since then. Southeast Asia: Demand declined by 12% in the third quarter of FY2013 from the corresponding period a year ago. 100 169 234 125 64 76 Index 3Q FY07=100 101 Units Y-O-Y growth rate Indonesia: Demand for construction & mining equipment by industrial sector <Mining> Apr.-Dec.: -45% 2Q (Jul.- Sep.): Y-O-Y +25% 3Q (Oct.-Dec.): Y-O-Y +33% China <Demand for 7 major products> Monthly demand for hydraulic excavators (Foreign makers: Total of 6-ton and larger models) <Chinese New Year> 69 113 157 221 170 Index : 3Q FY07=100 100 (Represented by Indonesia) 3Q: -12% -2% 2Q (Jul.- Sep.): Y-O-Y -24% 3Q (Oct.-Dec.): Y-O-Y -12% Southeast Asia <Demand for 7 major products>Y-O-Y growth rate 150 FY13 Projection: +12% to +17% (As of Oct.2013) FY13 Projection: -15% to -20% (As of Oct.2013) Units Units Units : Jan. 31, 2014 : Feb. 10, 2013 : Jan. 23, 2012 : Feb. 3, 2011 Demand: Estimated by Komatsu
  16. 16. 16 Business Results for Three and Nine Months ended December 31, 2013 +6% +15% -34% +39% +52% -5% -50% -100% -50% 0% 50% 0 2,000 4,000 6,000 8,000 10,000 12,000 Middle East & Africa Oceania Asia China Europe & CIS Latin America North America Y-O-Y growth rate +61% +59% +49% +40% +25% +5% -11% -33% -55% -56% -48% -50% 0% 50% 100% 0 500 1,000 1,500 2,000 2,500 3,000 Middle East & Africa Oceania Asia China Europe & CIS Latin America North America Y-O-Y growth rate Construction, Mining & Utility Equipment: Mining Equipment Demand and Outlook - Quarterly demand for mining equipment has continued to decline year-on-year since the third quarter of FY2012, reflecting a cooled down mindset of customers concerning capital investment against the backdrop of subdued commodity prices. - We project the full-year demand will decline by 50% in FY2013 from FY2012, as announced in October 2013. Quarterly demand for mining equipment Annual demand for mining equipment Y-O-Y growth rateUnits Units Y-O-Y growth rate Projection (as of Oct., 2013) Dump trucks: 75 tons (HD785) and larger, Bulldozers: 525HP (D375) and larger, Excavators: 200 tons (PC2000) and larger, Wheel loaders: 810HP (WA800) and larger, Motor graders: 280HP (GD825) and larger Demand: Estimated by Komatsu
  17. 17. 17 Business Results for Three and Nine Months ended December 31, 2013 +22% +18% -14% +15% +33% +11% -22% -50% 0% 50% 0 200 400 600 800 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY12 FY13 +24% +20% +4% -1% -16% -27% -23% -50% 0% 50% 0 50 100 150 200 250 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q Middle East & Africa Oceania Asia China Europe & CIS Latin America North America Construction, Mining & Utility Equipment: Sales of Mining Equipment Quarterly sales of mining equipment have continued to decline year-on-year in tandem with sluggish demand. We project that full-year sales of mining equipment, including parts and service for FY2013 will decline by 22% from FY2012. Annual sales of mining equipment (Incl. parts and service)) 356.5 422.0 361.5 554.0 614.5 476.0 417.0 Quarterly sales of mining equipment (Incl. parts and service)) 139.1 157.0 163.4 129.6 119.2 155.2 125.3 136.4 133.9 158.5 107.2 Y-O-Y growth rate Y-O-Y growth rate 443.0 171.5 614.5 Equipment,service,&othersParts 293 0 183.0 476.0 Billions of yen Billions of yen Y-O-Y growth rate Projection (As of Oct., 2013) Projection (As of Oct., 2013)
  18. 18. 18 Business Results for Three and Nine Months ended December 31, 2013 105.0 113.0 118.0 138.5 158.0 171.5 183.0 154.5 152.0 120.0 141.5 159.0 148.0 178.5 +2% -10% +18% +13% +1% +13% -20% +0% +20% 0 100 200 300 400 500 FY07 FY08 FY09 FY10 FY11 FY12 FY13 Construction equipment Mining equipment Y-O-Y growth rate 40.2 37.9 39.0 40.9 43.0 43.7 39.6 45.2 49.2 44.6 46.3 40.7 39.5 37.9 40.9 37.3 36.0 34.7 40.0 45.2 44.2 41.8 +12% +15% +14% +13% -1% +3% -3% +4% +18% +11% +19% -20% 0% 20% 0 20 40 60 80 100 120 140 1QFY11 2Q 3Q 4Q 1QFY12 2Q 3Q 4Q 1QFY13 2Q 3Q Construction equipment Mining equipment Y-O-Y growth rate Construction, Mining & Utility Equipment: Sales of Parts - Third quarter sales of parts advanced by 19% from the corresponding period a year ago. - We project that full-year sales of parts will increase by 13% for FY2013 from FY2012, as announced in October 2013. Quarterly sales of parts 238.0 280.0 317.0 265.0 319.5 Annual sales of parts 361.5 Billions of yen Y-O-Y growth rate 259.5 80.9 76.977.4 81.8 80.3 74.3 79.7 85.2 88.188.8 94.4 Billions of yen Projection (As of Oct 2013) Y-O-Y growth rate
  19. 19. 19 Business Results for Three and Nine Months ended December 31, 2013 D61PXi-23 medium-sized bulldozer which features the world's first* full automatic blade control * Based on Komatsu's research concerning seven major products, i.e., crawler-type hydraulic excavator, wheel-type hydraulic excavator, wheel loader, bulldozer, motor grader, rigid dump truck and articulated dump truck Business Coordination Department, KOMATSU LTD. TEL: +81-3-5561-2687 FAX: +81-3-3582-8332 http://www.komatsu.com/ 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. Cautionary Statement
  20. 20. 20 Business Results for Three and Nine Months ended December 31, 2013 <Appendix>
  21. 21. 21 Business Results for Three and Nine Months ended December 31, 2013 54.0 49.8 58.8 60.1 68.3 64.5 58.8 64.5 55.7 55.5 39.2 61.1 52.4 56.5 56.6 12.1% 12.1% 13.3% 11.1% 13.8% 13.1% 12.7% 12.1% 11.9% 12.1% 9.3% 11.4% 11.5% 12.0% 12.2% 0 20 40 60 80 100 120 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q Operatingincome Operatingincomeratio -2.7 -3.6 -2.9 -3.9 -3.0 -3.9 -3.0 -3.6 -2.9 -2.5 -2.1 -3.2 -1.8 -2.6 -1.6 405.6 358.9 383.8 469.5 436.6 419.7 412.6 475.2 429.7 409.3 368.4 471.9 416.6 413.4 420.7 44.2 57.3 61.2 75.5 60.5 75.8 53.0 61.6 43.0 54.1 53.4 65.6 40.3 59.2 45.3 0 100 200 300 400 500 600 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q Industrial Machinery & Others Construction, Mining & Utility Equipment Elimination Quarterly sales 447.1 412.6 442.2 541.1 494.1 491.6 462.6 * 533.2 Quarterly operating income 469.9 460.9 USD EUR RMB 1Q FY13 2Q FY13 3Q FY13 4Q FY13 97.3 yen 98.6 yen 99.7 yen 126.4 yen 129.9 yen 135.1 yen 15.8 yen 16.1 yen 16.3 yen 1Q FY10 2Q FY10 3Q FY10 4Q FY10 91.3 yen 85.0 yen 82.2 yen 82.3 yen 114.8 yen 111.5 yen 110.4 yen 113.8 yen 13.4 yen 12.6 yen 12.4 yen 12.5 yen 1Q FY11 2Q FY11 3Q FY11 4Q FY11 81.2 yen 77.1 yen 77.9 yen 79.8 yen 118.3 yen 108.7 yen 104.9 yen 106.3 yen 12.5 yen 12.1 yen 12.3 yen 12.7 yen 1Q FY12 2Q FY12 3Q FY12 4Q FY12 80.6 yen 78.7 yen 80.1 yen 90.7 yen 104.6 yen 98.3 yen 103.5 yen 120.1 yen 12.8 yen 12.4 yen 12.8 yen 14.6 yen 419.7 534.4 455.1 469.9 464.3 <Appendix> Quarterly Sales and Operating Income Exchange rates Billions of yen * Including adverse effects of 7.0 billion yen from the earthquake disaster. Billions of yen
  22. 22. 22 Business Results for Three and Nine Months ended December 31, 2013 405.6 358.9 383.8 469.5 436.6 419.7 412.6 475.2 429.7 409.3 368.4 471.9 416.6 413.4 420.7 0 100 200 300 400 500 600 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q USD EUR RMB 1Q FY13 2Q FY13 3Q FY13 4Q FY13 97.3 yen 98.6 yen 99.7 yen 126.4 yen 129.9 yen 135.1 yen 15.8 yen 16.1 yen 16.3 yen 1Q FY10 2Q FY10 3Q FY10 4Q FY10 91.3 yen 85.0 yen 82.2 yen 82.3 yen 114.8 yen 111.5 yen 110.4 yen 113.8 yen 13.4 yen 12.6 yen 12.4 yen 12.5 yen 1Q FY11 2Q FY11 3Q FY11 4Q FY11 81.2 yen 77.1 yen 77.9 yen 79.8 yen 118.3 yen 108.7 yen 104.9 yen 106.3 yen 12.5 yen 12.1 yen 12.3 yen 12.7 yen 1Q FY12 2Q FY12 3Q FY12 4Q FY12 80.6 yen 78.7 yen 80.1 yen 90.7 yen 104.6 yen 98.3 yen 103.5 yen 120.1 yen 12.8 yen 12.4 yen 12.8 yen 14.6 yen Quarterly sales 54.2 48.0 54.0 64.4 60.8 59.2 58.8 67.3 54.2 55.3 38.8 60.5 52.6 53.1 58.3 13.4% 13.4% 14.1% 13.7% 13.9% 14.1% 14.3% 14.2% 12.6% 13.5% 10.5% 12.8% 12.6% 12.9% 13.9% 0 20 40 60 80 100 120 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q Segment profit Segment profit ratio Quarterly segment profit <Appendix> Construction, Mining & Utility Equipment: Quarterly Sales and Segment Profit Exchange rates Billions of yen Billions of yen
  23. 23. 23 Business Results for Three and Nine Months ended December 31, 2013 USD EUR RMB 1Q FY13 2Q FY13 3Q FY13 4Q FY13 97.3 yen 98.6 yen 99.7 yen 126.4 yen 129.9 yen 135.1 yen 15.8 yen 16.1 yen 16.3 yen 1Q FY10 2Q FY10 3Q FY10 4Q FY10 91.3 yen 85.0 yen 82.2 yen 82.3 yen 114.8 yen 111.5 yen 110.4 yen 113.8 yen 13.4 yen 12.6 yen 12.4 yen 12.5 yen 1Q FY11 2Q FY11 3Q FY11 4Q FY11 81.2 yen 77.1 yen 77.9 yen 79.8 yen 118.3 yen 108.7 yen 104.9 yen 106.3 yen 12.5 yen 12.1 yen 12.3 yen 12.7 yen 1Q FY12 2Q FY12 3Q FY12 4Q FY12 80.6 yen 78.7 yen 80.1 yen 90.7 yen 104.6 yen 98.3 yen 103.5 yen 120.1 yen 12.8 yen 12.4 yen 12.8 yen 14.6 yen 54.4 62.9 69.6 64.5 61.4 67.6 78.0 79.2 62.5 69.8 76.0 84.2 66.4 83.5 95.6 41.0 42.1 48.6 52.7 55.1 61.7 55.2 65.5 61.9 63.9 56.0 94.4 65.6 70.6 65.2 26.8 21.8 24.3 31.4 31.5 29.2 29.1 30.6 27.9 23.0 22.8 26.5 30.4 26.7 28.0 57.2 49.8 42.7 52.3 50.9 49.4 48.9 55.7 63.3 69.3 62.9 63.5 59.4 61.6 62.6 12.7 10.2 16.7 19.6 21.9 16.6 18.5 22.5 21.9 19.2 24.4 23.8 18.5 17.2 16.1 98.4 54.3 67.2 114.2 75.4 38.8 35.5 51.4 40.7 21.7 20.4 36.9 41.4 31.3 39.5 63.1 61.0 60.2 68.5 74.8 81.0 79.4 84.0 78.5 52.4 34.7 52.3 47.9 43.9 43.3 29.8 27.8 28.9 34.8 34.2 37.9 38.5 51.0 44.3 54.8 43.5 50.2 47.3 39.7 32.1 9.4 11.8 6.6 14.9 11.0 10.0 7.2 8.1 5.2 9.0 4.4 10.9 13.6 13.6 9.0 11.9 16.2 17.9 15.4 18.5 25.6 20.5 25.7 22.4 25.1 22.2 28.2 24.9 24.3 28.1 0 100 200 300 400 500 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q 405.2 358.4 383.2 468.7 435.3 418.3 411.4 474.2 428.9 Africa Middle East Oceania Asia China CIS Latin America Europe North America Japan 408.7 367.9 471.3 415.9 412.8 420.0 <Appendix> Construction, Mining & Utility Equipment: Quarterly Sales (To Outside Customers) by Region Exchange rates Billions of yen
  24. 24. 24 Business Results for Three and Nine Months ended December 31, 2013 44.2 57.3 61.2 75.5 60.5 75.8 53.0 61.6 43.0 54.1 53.4 65.6 40.3 59.2 45.3 0 25 50 75 100 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q Quarterly sales Quarterly segment profit USD EUR RMB 1Q FY13 2Q FY13 3Q FY13 4Q FY13 97.3 yen 98.6 yen 99.7 yen 126.4 yen 129.9 yen 135.1 yen 15.8 yen 16.1 yen 16.3 yen 1Q FY10 2Q FY10 3Q FY10 4Q FY10 91.3 yen 85.0 yen 82.2 yen 82.3 yen 114.8 yen 111.5 yen 110.4 yen 113.8 yen 13.4 yen 12.6 yen 12.4 yen 12.5 yen 1Q FY11 2Q FY11 3Q FY11 4Q FY11 81.2 yen 77.1 yen 77.9 yen 79.8 yen 118.3 yen 108.7 yen 104.9 yen 106.3 yen 12.5 yen 12.1 yen 12.3 yen 12.7 yen 1Q FY12 2Q FY12 3Q FY12 4Q FY12 80.6 yen 78.7 yen 80.1 yen 90.7 yen 104.6 yen 98.3 yen 103.5 yen 120.1 yen 12.8 yen 12.4 yen 12.8 yen 14.6 yen 2.0 4.0 7.2 7.5 8.8 6.2 1.5 0.0 2.3 0.9 0.5 2.3 0.8 3.9 (3.6) 4.6% 7.2% 11.9% 10.0% 14.6% 8.3% 3.0% 0.1% 5.5% 1.7% 1.0% 3.7% 2.0% 6.7% -8.1% -5 0 5 10 15 1Q FY10 2Q 3Q 4Q 1Q FY11 2Q 3Q 4Q 1Q FY12 2Q 3Q 4Q 1Q FY13 2Q 3Q 4Q Segment profit Segment profit ratio * Including the loss of write-off of Komatsu NTC’s wire saw inventories in the amount of JPY 7.6 billion. * <Appendix> Industrial Machinery & Others: Quarterly Sales and Segment Profit Exchange rates Billions of yen Billions of yen

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