04 29-13 komatsu results-q4-2


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04 29-13 komatsu results-q4-2

  1. 1. 1Akira SugikiSenior Executive OfficerGeneral Manager, Business Coordination DepartmentKomatsu Ltd.Tasks and Projection for FY2013ending March 31, 2014April 25, 2013
  2. 2. 22. Outlook of two business segments- Construction, Mining and Utility EquipmentWhile demand for mining equipment should decline, demand for construction equipment should advance in Japanand North America. Coupled with expanding sales of parts, the Japanese yen’s depreciation and other factors,both sales and segment profit for FY2013 should increase from FY2012.- Industrial Machinery and OthersWhile sales of presses and machine tools should remain stable, demand for wire saws should remainsluggish. As a result, we project both sales and segment profit for FY2013 should decrease slightly from FY2012.FY2012 FY2013 Increase(decrease)Interim 24 yen 29 yen* 5 yen*Year end 24 yen 29 yen* 5 yen*Total 48 yen 58 yen* 10 yen*1.Sales and profits:- FY2013 net sales should increase by 8.8% from FY2012, to JPY2,050 billion, and operating income by 44.1% to JPY305 billion.- Operating income ratio should improve by 3.7 percentage points to 14.9%.FY2012 Results FY2013 Projection ChangeNet sales 1,884.9 bil yen 2,050.0 bil yen +8.8%Operating income 211.6 bil yen 305.0 bil yen +44.1%Operating income ratio 11.2% 14.9% +3.7ptsNet income *1 126.3 bil yen 184.0 bil yen +45.7%ROE 11.5% 14.6% +3.1ptsNet debt-to-equity ratio[Excl. retail finance business]0.49[0.20]0.39[0.12](0.10)pts[(0.08)pts]3. Cash dividendsWe plan annual cash dividends of JPY58 per share for FY2013.(Consolidated payout ratio should translate into 30%.)Outline of Projection for FY2013 ending March 31, 2014*Projection*1 Upon adoption of ASC 810, “Net income” is equivalent to “Net income attributable to Komatsu Ltd.”
  3. 3. 3FY2012 ResultsUSD 1 = JPY 82.5EUR 1 = JPY 106.6RMB 1 = JPY 13.2FY2013 ProjectionUSD 1 = JPY 95EUR 1 = JPY 123RMB 1 = JPY 15.3ChangesIncrease(decrease)Change%Net sales 1,884.9 2,050.0 165.0 8.8%Construction, Mining & Utility EquipmentIndustrial Machinery & Others[1,677.0] 1,679.5[207.9] 216.2[1,848.0] 1,850.0[202.0] 205.0[170.9] 170.4[(5.9)] (11.2)[10.2%] 10.1%[(2.9)%] (5.2)%Elimination (10.8) (5.0) 5.8 -Segment profit 214.0 305.0 90.9 42.5%Construction, Mining & Utility EquipmentIndustrial Machinery & Others208.96.2302.06.093.0(0.2)44.5%(3.6)%Corporate & elimination (1.1) (3.0) (1.8) -Other operating income (expenses) (2.4) 0.0 2.4 -Operating income 211.6 305.0 93.3 44.1%Other income (expenses) (6.9) (8.0) (1.0) -Income before income taxes 204.6 297.0 92.3 45.2%Net income *1 126.3 184.0 57.6 45.7%2.9%11.4%12.4%Cash dividends per share 48yen 58yen 10yen11.2%- While demand for mining equipment should decline from FY2012, we project that both sales and profits will increase,particularly supported by growing demand for construction equipment in Japan and North America, expanding sales ofparts, and effects of the Japanese yen’s depreciation.- Operating income ratio should improve by 3.7 percentage points to 14.9%.*1 Upon adoption of ASC 810, “Net income” is equivalent to “Net income attributable to Komatsu Ltd.”Projection for FY2013 ending March 31, 2014% : Profit ratio[ ]: Sales after elimination ofinter-segment transactionsBillions of yen2.9%14.9%16.3%14.9%
  4. 4. 4286.3 292.7 308.0237.8 276.4 319.0120.6 100.3114.0205.2 259.2282.079.789.496.0201.3 119.9140.0319.4 218.0258.0161.8193.0198.036.429.641.090.498.092.005001,0001,5002,0002,500FY2011 FY2012 FY2013(Projected)AfricaMiddle EastOceaniaAsiaChinaCISLatinAmericaEuropeNorthAmericaJapan246.2208.9302.0051015200100200300400FY2011 FY2012 FY2013(Projected)14.1%%Billions of yen% Japan NorthAmerica Europe LatinAmerica CIS China Asia Oceania Middle East Africa TotalFY2012 +2.2% +16.3% -16.8% +26.3% +12.2% -40.4% -31.8% +19.3% -18.6% +8.3% -3.6%FY2013 (Projection) +5.2% +15.4% +13.6% +8.8% +7.3% +16.7% +18.3% +2.6% +38.1% -6.2% +10.2%Sales growth rate (year-on-year basis)1,739.3- While we project that demand for mining equipment will decline from FY2012, FY2013 sales should increase by10.2%, particularly supported by increasing demand for construction equipment in Japan and North America,expanding sales of parts, and effect of the Japanese yen’s depreciation.- We anticipate that segment profit will increase by 44.5% from FY2012, to JPY302.0 billion yen, and segment profitratio will improve by 3.9 percentage points to 16.3% for FY2013.(3.6)% +10.2%12.4%16.3%¥ 79.0/USD¥109.6/EUR¥ 12.4/RMB¥ 82.5/USD¥106.6/EUR¥ 13.2/RMB¥ 95/USD¥ 123/EUR¥15.3/RMBGrowth rate (year-on-year)Sales by region (To outside customers) Breakdown (%) Segment profitBillions of yenConstruction, Mining & Utility Equipment : Projection of Sales (to Outside Customers) by Region and Segment Profit: Segment profit ratioSales before elimination ofinter-segment transactions1,848.01,677.0Japan17%NorthAmerica17%Europe6%LatinAmerica15%CIS5%China8%Asia14%Oceania11%MiddleEast2%Africa5%FY2013(Projected)Japan17%NorthAmerica17%Europe6%LatinAmerica15%CIS5%China7%Asia13%Oceania12%MiddleEast2%Africa6%StrategicMarkets60%TraditionalMarkets40%FY2012StrategicMarkets60%TraditionalMarkets40%+44.5%(15.2)%
  5. 5. 5208.9302.00100200300400FY2012 FY2013(Projected)Positive factorsNegative factor16.3%12.4%+93.0 billion yen【Positive factors】Fixed costs: +7.0Selling prices & others: +29.1Foreign exchange rates: +70.0【Negative factor】Volume difference: (13.0)The decline in the volume of sales mainly resulting from dropped demand for mining equipment should becompensated for by the increase in selling prices resulting from improved selling prices. Coupled with the foreignexchange gain from the Japanese yen’s depreciation, we project that segment profit will advance by JPY93.0 billionfrom FY2012.FY 2012 vs. FY 2013 ProjectionBillions of yenJPY82.5/USDJPY106.6/EURJPY13.2/RMBJPY95/USDJPY123/EURJPY15.3/RMBSegment profit ratioTotal: +93.0 billion yenForeignexchange rates+70.0FixedCosts+7.0Selling prices& others+29.1Volumedifference(13.0)Construction, Mining & Utility Equipment: Causes of Difference in Projected Sales & Segment Profit[Billions of yen]
  6. 6. 6+22%+13%+16%+13% +15%-20% -20%45%+5%-7%+4%-60%-40%-20%0%20%40%60%0100,000200,000300,000400,000500,000600,000FY03FY04FY05FY06FY07FY08FY09FY10FY11FY12FY13Japan North AmericaEurope ChinaOthers Y-O-Y growth rate1008064+17%+15%+13%+13%+4%-4%-32%-48%-47%-42%-6%+53%+63%+46%+40%+36%+11%+14%+7%-7%-1%-1%-9%-14%-60%-30%0%30%60%90%030,00060,00090,000120,000150,00007/4-607/7-907/10-1208/1-308/4-608/7-908/10-1209/1-309/4-609/7-909/10-1210/1-310/4-610/7-910/10-1211/1-311/4-611/7-911/10-1212/1-312/4-612/7-912/10-1213/1-3Japan North AmericaEurope ChinaOthers Y-O-Y growth rate9297Index : FY2007=1009194FY2012: While demand increased steadily in Japan and North America, that in China and Indonesiadropped drastically, resulting in a decrease of 7% from FY2011.FY2013: In addition to Chinese demand having bottomed out in FY2012, we project that demand willincrease by about 4% from FY2012, supported by steady growth of demand continuing in Japanand North America.Construction & Mining Equipment: Demand and Outlook for 7 Major ProductsQuarterly demand for 7 major products Annual demand for 7 major productsUnitsGrowthrateGrowthrateUnitsDemand: Estimated by Komatsu(Projected)
  7. 7. 705,00010,00015,000-100%-75%-50%-25%0%25%50%75%100%FY07/1Q2Q3Q4QFY08/1Q2Q3Q4QFY09/1Q2Q3Q4QFY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QDemand (units) Y-O-Y growth rate020,00040,00060,00080,0000102030405060708090100808284868890929496980002040608101213Private-sector non-residentialPrivate-sector residentialGovernment constructionFYFY2012: Demand advanced by 25% from FY2011, mainly driven by demand in the earthquake and tsunami-destroyedregions.FY2013: We project that demand will grow by 7% to 12% from FY2012, supported by an increase in the number of large-scale reconstruction projects, such as relocation of residential houses to high ground.100 9040 45 45Index : FY07/4Q=1004Q: +16%UnitsConstruction & Mining Equipment: Demand in Major Markets and Outlook (1) JapanConstruction investmentTrillions of yenYear-on-year growth rates of7 major products Demand for new equipment/Exports of used equipment(Units)Propertybubble FY12: +25%FY13: +7% to +12% (projected)[Sources] : Construction investment by the Ministry of Land, Infrastructure, Transport & Tourism,and Research Institute of Construction and EconomyDemand for 7 major products estimated by KomatsuNo. of used equipment estimated by Komatsu(Projected)Demand for new equipment (7major products)and construction investment Quarterly demand for 7 major productsGrowth rateDemand fornewequipmentUsed equipmentbubbleExports of usedequipmentPref. Municipality DistrictSchedule (calendar year)’13 ’14 ‘15 ‘16Iwate Rikuzentakata Takata, ImaizumiMiyagiMinamisanrikuShizugawa (East)Shizugawa (Mid)Shizugawa (West)Fishing PortOnagawa MiyagasakiHigashimatsushimaNobiruNatori Yuriage05,00010,00015,00020,00025,00030,000FY11 FY12RentalRegularUnitsDemand for hydraulicexcavators(Regular & rental uses)Large-scale residential relocation projects in the areasaffected by the Great East Japan Earthquake (planned)104+16%+30%
  8. 8. 8010,00020,00030,000-60%-40%-20%0%20%40%60%FY05/1Q2Q3Q4QFY06/1Q2Q3Q4QFY07/1Q2Q3Q4QFY08/1Q2Q3Q4QFY09/1Q2Q3Q4QFY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QDemand (units) Y-O-Y growth rate010,00020,00030,00040,00050,00060,00070,00080,000050100150200250Housing starts (calendar year)Demand for major 7 productsFY010,00020,00030,00040,00050,00060,000FY11 FY12+16%100916639 33 486467+10%+5%+40%-5%ResidentialNon-residentialFY2012: Demand advanced by 18% from FY2011, largely driven by demand in the rental industry and the housingsector.FY2013: We project demand will continue to grow by 15% to 20% from FY2012, centering on strong demand inthe rental industry and the housing sector.Construction & Mining Equipment: Demand in Major Markets and Outlook (2) North AmericaDemand for 7 major products and US housing starts Quarterly demand for 7 major productsBreakdown of demand by segment (Unit based)FY12: +18%FY13: +15% to +20% (projected)Housing startsin ten thousandsDemand for7 major productsUnits11yrs9 yrs6 yrsYear-on-year growth rates[Source]: Housing starts by U.S. Department of CommerceDemand for 7 major products estimated by Komatsu4Q: +5%Index : FY05/4Q=100UnitsGrowth rateUnits<Breakdown> <Units>OthersRentalMining &energyRoadConstructionOthersRentalMining& energyRoadConstructionResidentialNon-residential28% 27% 24% 22% 22%21% 27%23%19% 18%15%13%14%14% 13%21% 17% 24% 30% 36%15% 16% 15% 14% 11%0%20%40%60%80%100%FY08 FY09 FY10 FY11 FY12
  9. 9. 9010,00020,00030,000-80%-60%-40%-20%0%20%40%60%FY07/1Q2Q3Q4QFY08/1Q2Q3Q4QFY09/1Q2Q3Q4QFY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QDemand (units) Y-O-Y growth rate0%20%40%60%80%100%FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12(April-Feb.)SouthernEasternOther WesternCountriesNorthernThe U.K.,France, andGermany010,00020,00030,00040,00050,00060,00070,00080,00095969798990001020304050607080910111213FYUnitsUnits10036 52 5038Index : FY07/4Q=100FY12: -5%FY13: -5% to 0% (projected)4Q: -14%Breakdown of demand by region43FY2012: Demand declined by 5% from FY2011, reflecting sluggish demand in southern and easternEurope.FY2013: We project that demand will remain about flat (-5% to 0%) from FY2012.Construction & Mining Equipment: Demand in Major Markets and Outlook (3) EuropeAnnual demand for 7 major productsQuarterly demand for 7 major productsYear-on-year growth rates of 7 major productsGrowth rateDemand: Estimated by Komatsu
  10. 10. 1004,0008,00012,00016,00020,00024,0004 5 6 7 8 9 10 11 12 1 2 3FY 2013 (Projected)FY 2012FY 2011FY 2010010,00020,00030,00040,00050,000-50%0%50%100%150%200%250%FY07/1Q2Q3Q4QFY08/1Q2Q3Q4QFY09/1Q2Q3Q4QFY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QDemand (units) Y-O-Y growth rate050,000100,000150,00002 03 04 05 06 07 08 09 10 11 12 13Demand for 7 major products (foreign makers)UnitsFY12: -41 %FY13: +3% to +8% (projected)UnitsMonthHours4Q: -32%Year-on-year growth rateFY2012: Demand dropped by 41% from FY2011, mainly affected by the economic slowdown.FY2013: Demand bottomed out in FY2012, and thus we project that it will upturn for gradual recovery in the secondhalf period and increase by 3% to 8% from FY2012.(Projected)FY10017723411983 81Unit : FY07/4Q=100Construction & Mining Equipment: Demand in Major Markets and Outlook (4) ChinaKOMTRAX in China : Average operating hours per monthGrowthrate UnitsMonthly demand for hydraulic excavators: Total of 6-ton and larger models): Jan 31, 2014: Feb. 10, 2013: Jan. 23, 2012: Feb. 3, 2011<Chinese New Year>Quarterly demand for 7 major products (foreign makers)3%-5%-15%-10%-12%-11%-14%-19%-13%-46%33%-17%-14%-14%-10%-13%-9%-10%-7%-10%-11%83%-58%-3%-80%-60%-40%-20%0%20%40%60%80%050100150200250 Operating hours Y-o-Y Growth rateDemand for 7 major products and hydraulic excavators estimated by KomatsuGrowth rate
  11. 11. 1102,0004,0006,0008,000-80%-40%0%40%80%120%160%FY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QFY13/1Q2Q3Q4QForest AgroConstruction MiningY-O-Y growth rate03,0006,0009,00012,000-80%-40%0%40%80%120%160%FY071Q2Q3Q4QFY081Q2Q3Q4QFY091Q2Q3Q4QFY10/1Q2Q3Q4QFY11/1Q2Q3Q4QFY12/1Q2Q3Q4QIndonesiaOthersMalaysiaThailandY-O-Y growth rate010,00020,00030,00040,00004 05 06 07 08 09 10 11 12 13IndonesiaOther countriesMalaysiaThailand10059113 161227Growth rateUnits4Q: -29 %Units(Projected)FY12: -13%FY13: -13% to -8% (projected)Y-O-Y growth rateFY2012: While overall demand remained firm, centering on Thailand, with an exception of Indonesia, demand in coal minesin Indonesia plummeted in the second and subsequent quarters. As a result, total demand declined by 13% fromFY2011.FY2013: We project that demand will start recovering slowly in Indonesia in the second half period and onward, andthat full-year total demand will decline by 13% to 8% from FY2012.FYConstruction & Mining Equipment: Demand in Major Markets and Outlook (4) South East AsiaQuarterly demand for 7 major products (foreign makers)Annual demand for 7 major productsIndonesia: demand for 7 major products by sectorUnitsDemand: estimated by Komatsu161Index : FY07/4Q=1004Q: -41%ProjectionGrowth rateIndex : FY07/4Q=100
  12. 12. 12010020030040050060070003 06 07 08 09 10 11 12 13Africa &M.EastOceaniaAsiaChinaEurioe &CISLatinAmericaNorthAmerica105.0113.0 118.0138.5158.0 171.5 201.0154.5 152.0120.0141.5159.0 148.0182.0010020030040050007 08 09 10 11 12 13ConstructionMining02,0004,0006,0008,00010,00003 06 07 08 09 10 11 12 13Africa &M.EastOceaniaAsiaChinaEurope &CISLatinAmericaNorthAmerica28 871414181342Coal ($/t)Iron ore($/t)Copper (¢/lb)Units[+7%][+15%][-35%][+40%][+51%][+12%] [+25%][-14%][+15%][+33%]356.5422.0361.5292.0417.0554.0125.5[+22%][+18%]Billions of yenFY FY[ ]:Y-O-Y growth rateDemand: While demand for mining equipment increased steadily in Latin America and Oceania, total demand in FY2012 declined by 7% from FY2011,as adversely affected by a sharp drop in Indonesia. In FY2013, we estimate a decline of 25% from FY2012.Sales: Sales of mining equipment increased to JPY614.5 billion for FY2012, up 11% from FY2011. For FY2013, we project sales of JPY606 billion,about flat from FY2012, against the background of reduced demand and the Japanese yen’s depreciationParts: Sales of parts totaled JPY319.5 billion for FY2012, remaining flat from FY2011. For FY2013, we project that sales will reach JPY383 billion, up20% from FY2012,largely supported by expanding volume of sales and the Japanese yen’s depreciation.[April, 2013]↓CopperIron oreThermal coal[ ]: Y-O-Y growth rateConstruction & Mining Equipment: Demand for Mining Equipment by Region and Komatsu’s Sales ProjectionDemand for mining equipment by region Sales by region(Incl. parts and service)(Projected) (Projected)Demand: estimated by KomatsuDump 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 larger238.0280.0317.0265.0319.5383.0259.5Parts Sales[+2%]FY[-10%][+18%][+13%][+1%][+20%](Projected)Billions of yen[ ]:Y-O-Y growth rate[-7%][-25%][+11%]614.5[ -1%]606.0
  13. 13. 1302040608002040608016.76.2 6.00612180102030FY2011 FY2012 FY2013(Projected)Sales Segment Profit (%)FY2012FY2013(Projected)FY2012 v.s. FY2013(Projected)Increase(decrease)Change%Komatsu Industries Corp.(Sheet-metal and press machine business) 54.1 57.8 +3.6 +6.7%Komatsu NTC Ltd.[represented by wire saws]77.3[7.3]72.8[7.0](4.4)[(0.2)](5.7)%[(3.9)%]Others[represented by Gigaphoton][represented by Komatsu House]84.7[23.0][16.3]74.2[22.0][14.0](10.4)[(1.0)][(2.3)](12.4)%[(4.4)%][(14.4)%]Total 216.2 205.0 (11.2) (5.2)%251.1216.2 205.00100200300FY2011 FY2012 FY2013(Projected)6.7%2.9% 2.9%Machine toolsPressesBacklog ordersSegment profit ratioBillions of yen Billions of yenBillions of yenBillions of yenBillions of yenBreakdown of salesWhile we project that sales of presses and machine tools should remain stable, demand for wire saws will remainsluggish in FY2013. Accordingly, we project that sales will decline by 5.2% from FY2012, to JPY205.0 billion, andsegment profit by 3.6% to JPY6.0 billion for FY2013.Industrial Machinery & Others: Projection of Sales and Segment Profit
  14. 14. 14Billions of yen- We project that total assets will increase from March 31, 2013, mainly due to new contracts in North America.- Both revenues and pretax income should increase from FY2012, mainly due to an increase in total assets andeffects of the Japanese yen’s depreciation.Billions of yenRetail Finance BusinessConsolidated retail finance subsidiaries2. Revenues1. Assets50.862.211.8 14.1020406080FY2012 FY2013(Projected)RevenuePretax incomeJapan JapanEurope EuropeChina ChinaOceaniaOceaniaOthersOthersNorthAmericaNorthAmerica0100200300400500600Mar.31, 2013 Mar.31, 2014(Projected)530.9524.9JPY94.1/USDJPY120.7/EURJPY15.2/RMBJPY95/USDJPY123/EURJPY15.3/RMBJPY82.5/USDJPY106.6/EURJPY13.2/RMBJPY95/USDJPY123/EURJPY15.3/RMB
  15. 15. 1543.053.2 3.2% 3.2%020406080100FY2011 FY2012 FY2013(Projected)Industiral Machinery & OthersConstruction, Mining & Utility Equipment58.471.879. 49.940.0020406080100FY2011 FY2012 FY2013(Projected)Industrial Machinery & OthersConstruction, Mining & Utility Equipment63.9-Capital expenditures: We will mainly invest in renewal of factory buildings at Japanese plants in order to promote production reforms.-R&D expenses: We will focus on future growth areas, such as new emission standards (e.g., Tier4 Final) and ICT-intensiveconstruction equipment.-Fixed costs: We will continue to keep them at a low level in order to investment fund for future growth.54.80100200300400500FY2011 FY2012 FY2013(Projected)The Company and a part of its consolidated subsidiaries adopt the declining balance method for the depreciation of property, plant and equipment, and plan to change it to thestraight-line method from the fiscal year ending March 31, 2014. Komatsu believes that the straight-line method should better reflect the future usage of the property plant andequipment. The effect of the change in depreciation is recognized prospectively as a change in accounting estimate. This effect is estimated to result in a decrease ofdepreciation expense by approximately JPY10 billion for the fiscal year ending March 31, 2014.79.884.060.865.0Investment in production andother facilities* and depreciationR&D Expenses Fixed costsBillionsof yenBillionsof yenBillionsof yen*Excl. investmentin rental assetsProjection of Capital Expenditures, Depreciation, R&D Expenses and Fixed CostsExcl. Foreign exchange rates factor Excl. Foreign exchange rates factor
  16. 16. 16Cautionary StatementThis presentation sheets contain forward-looking statements that reflect management’s views and assumptions in the light of informationcurrently available with respect to certain future events, including expected financial position, operating results and business strategies. Thesestatements can be identified by the use of terms such as ”will,” “believes,” “should,” “projects,” “plans,” “expects,” and similar terms andexpressions that identify future events or expectations. Actual results may differ materially from those projected, and the events and results ofsuch forward-looking assumptions cannot be assured. Any forward-looking statements speak only as of the date of this presentation sheets, andKomatsu 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 limitedto, unanticipated changes in demand for the Company’s principal products, owing to changes in the economic conditions in the Company’sprincipal markets; changes in exchange rates or the impact of increased competition; unanticipated costs or delays encountered in achieving theCompany’s objectives with respect to globalized product sourcing and new information technology tools; uncertainties as to the results of theCompany’s research and development efforts and its ability to access and protect certain intellectual property rights; the impact of regulatorychanges and accounting principles and practices; and the introduction, success and timing of business initiatives and strategies.Business Coordination Department, KOMATSU LTD.TEL: +81-3-5561-2687FAX: +81-3-3582-8332http://www.komatsu.com/D61PXi-23 medium-sized bulldozer which featuresthe worlds first* fully auto blade control* Based on Komatsus research concerning seven major products,i.e., crawler-type hydraulic excavator, wheel-type hydraulic excavator,wheel loader, bulldozer, motor grader, rigid dump truck andarticulated dump truck