FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of August 2002
COMMISSION FILE NUMBER: 1-7239
KOMATSU LTD.
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Translation of registrant's name into English
3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan
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Address of principal executive offices
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____ No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________
INFORMATION TO BE INCLUDED IN REPORT
1. A company announcement made on August 12, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
KOMATSU LTD.
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(Registrant)
Date: August 12, 2002 By: /s/ Kenji Kinoshita
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Kenji Kinoshita
Executive Officer
[KOMATSU LOGO]
For Immediate Release
2-3-6 Akasaka, Minato-ku,
Tokyo 107-8414, Japan
Corporate Communications
Tel: (+81) 3-5561-2616
No. 0028 (1786)
Date: August 12, 2002
URL: http://www.komatsu.com/
Komatsu Announces First-Quarter Business Results for FY2003
In light of further facilitating disclosure, Komatsu Ltd. today announced
first-quarter (April - June 2002) business results by operation for fiscal 2003
as follows.
Komatsu's consolidated financial statements conform with accounting
principles generally accepted in the United States of America. Please also be
advised that financial figures for the first quarter of the current fiscal year
and those of the corresponding period last year are not audited by independent
public accountants contracted by the Company.
1. Market Conditions by Operation
[Construction and Mining Equipment Business]
Total Demand by Region
(Based on Units and Estimated by Komatsu)
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Regions Compared to 1/st/ Qtr Last Year
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Japan - 30%
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North America - 5%
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Europe - 8%
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Southeast Asia + 30%
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China +70%*
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Other** +16%
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*This growth rate is indicated for foreign companies only. Statistical
data for Chinese-made equipment are not available.
**Other regions consist of the Middle East, Africa and CIS, Asia
Pacific, and Central and South Americas.
.. In Japan, Komatsu faced a drastic drop of 30% in demand for the first quarter
when compared to annual demand (- 15%) projected at the beginning of the current
fiscal year.
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.. In North America, the Company met a decline in demand for mining equipment,
which upturned last year. As to general construction equipment, while signs for
recovery in demand emerged at the start of 2002, the degree of decline is
growing, somewhat overshadowing the possibility of demand recovery today.
.. In Europe, while recovery of demand emerged in the United Kingdom, Italy and
some other countries, demand continued to fall in Germany, the largest market of
Europe, resulting in negative growth in Europe as a whole.
.. In Southeast Asia, overall demand kept an upward outlook. Nevertheless, there
were some industrial sectors, such as forestry, which lagged behind in demand
recovery.
.. In China, demand for medium-sized hydraulic excavators continued to expand
substantially during the first quarter of the current fiscal year. It is
important to realize, however, that this period is known to accommodate the
largest demand of the year.
.. In other regions, overall demand increased. Demand was particularly strong in
Saudi Arabia, UAE, Iran and other Middle East countries.
[Electronics Business]
.. Demand for silicon wafers has recovered dynamically since the beginning of
this year after bottoming out in the summer of 2001. This market recovery was
driven by supplementary demand for semiconductor inventories resulting from
worldwide progress in inventory adjustment of IT-related equipment. Worldwide
demand for silicon wafers in the first quarter of the current fiscal year
expanded about 29% (on an area basis) from the corresponding period last year.
.. Demand for polycrystalline silicon for use in silicon wafers improved slowly
after bottoming out in 2001, supported by business recovery of the major client
industry of silicon wafers. The Company projects that demand in the first
quarter of the current fiscal year should record double-digit growth over the
preceding quarter.
.. Demand for thermoelectric modules for use in fiber optic communication
networks remained sluggish for the first quarter of the current fiscal year,
reflecting the lack of growth in facilities investment of telecommunications in
North America.
[Others]
.. Concerning industrial vehicles (forklift trucks), demand continued to advance
in the United States, the world's largest market. Meanwhile, Japanese demand
declined 10% from the corresponding period last year.
.. With respect to industrial machinery such as sheet metal machinery and
presses, overseas demand increased 12% on a basis of orders received over the
corresponding period last year, against the backdrop of production transfers to
overseas by manufacturers of automotive sheet metal parts. Contrarily, Japanese
demand dropped 25% as affected by the sluggish economy.
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2. Sales
(Unit: Millions of yen)
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Three months Three months
ended June ended June 30, Difference
30, 2002 (A) 2001 (B) (A) - (B)
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Construction &
Mining Equipment 177,811 171,300 6,511 + 3.8%
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Japan 49,316 58,795 (9,479) - 16.1%
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Overseas 128,495 112,505 15,990 + 14.2%
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Electronics 21,310 22,310 (1,000) - 4.5%
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Others 45,928 45,986 (58) - 0.1%
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Total 245,049 239,596 5,453 + 2.3%
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3. Operating Income (Loss)
(Unit: Millions of yen)
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Three months Three months
ended June ended June Difference
30, 2002 (A) 30, 2001 (B) (A)-(B)
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Construction &
Mining Equipment 7,989 (2,206) 10,195 --
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Electronics (778) (1,550) 772 --
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Others 159 (1,341) 1,500 --
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Elimination (1,705) (1,880) 175 --
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Total 5,665 (6,977) 12,642 --
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4. Sales of Construction & Mining Equipment by Region
(Unit: Millions of yen)
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Three months Three months
ended June ended June Difference
30, 2002 (A) 30, 2001 (B) (A)-(B)
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Japan 49,316 58,795 (9,479) - 16.1%
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The Americas 50,153 51,886 (1,733) - 3.3%
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Europe 32,644 28,440 4,204 + 14.8%
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Other regions 45,698 32,179 13,519 + 42.0%
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Total 177,811 171,300 6,511 + 3.8%
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5. Topics
1) Komatsu has agreed to transform Komatsu Shantui Construction Machinery Co.,
Ltd. into a consolidated subsidiary by purchasing part of the equity held in
this joint-venture company by a partner.
2) Komatsu successively launched its GALEO-series equipment such as the PC1250
and PC1800 super-large hydraulic excavators, the D275AX large bulldozer and the
WA430 wheel loader. Overseas, the Company embarked on market introduction of new
models of the PC200 hydraulic excavator.
3) In August this year, Komatsu issued straight bonds (Yen)20 billion due in 5
years and (Yen)10 billion due in 7 years). The Company plans to appropriate the
funds raised to repayment of bank loans.
4) Komatsu made good progress in its capacity cost-reduction program. The
Company anticipates positive results of about (Yen)10 billion for fiscal 2003
compared to fiscal 2002.
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