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Contents Annual Report 2009 01 ..................................................................Feature Section: Greater Asia 12 ....................................................................................Financial Highlights 14 .............................................................................To All Our Stakeholders 17 ............. Face to Face: Interview with Kunio Noji, President and CEO 24 .................................................................................Review of Operations Global Teamwork 25 ..................................................Construction, Mining and Utility Equipment 29 ....................................................................Industrial Machinery and Others Annual Report 2009 30 ................................................ Technology: Committed to Keeping the Edge 32 ..............................................................................Corporate Governance 34 .............................................................Environmental and Social Efforts 36 ............................................................Demining Anti-Personnel Landmines: ’09 Project to Reconstruct Safe Village Completed in Cambodia 37 ........................................................................................Financial Section 95 ..............................................................Directors, Auditors and Officers 96 ......................................................Komatsu Group Investment Holdings 98 ............................................................................... Corporate Information On the cover: Komatsu launched full-scale marketing of the PC200-8 Hybrid in April 2009. Cautionary Statement This Annual Report contains 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 Annual Report, 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 2-3-6 Akasaka, Minato-ku Tokyo 107-8414, Japan the economic conditions in the Company’s principal markets; changes in exchange http://www.komatsu.com/ rates or the impact of increased competition; unanticipated costs or delays encountered in achieving the Company‘s objectives with respect to globalized Corporate Planning Division product sourcing and new information technology tools; uncertainties as to the TEL : 81-3-5561-2687 results of the Company‘s research and development efforts and its ability to access FAX : 81-3-3582-8332 and protect certain intellectual property rights; the impact of regulatory changes This report is printed with soybean ink certified as being environment-friendly E-mail : [email protected] and accounting principles and practices; and the introduction, success and timing by the American Soybean Association. of business initiatives and strategies. Printed in Japan Corporate Controlling Department TEL : 81-3-5561-2604 Form No. AEN00001-04 HEAR090706 FAX : 81-3-3586-0374 Contents Annual Report 2009 01 ..................................................................Feature Section: Greater Asia 12 ....................................................................................Financial Highlights 14 .............................................................................To All Our Stakeholders 17 ............. Face to Face: Interview with Kunio Noji, President and CEO 24 .................................................................................Review of Operations Global Teamwork 25 ..................................................Construction, Mining and Utility Equipment 29 ....................................................................Industrial Machinery and Others Annual Report 2009 30 ................................................ Technology: Committed to Keeping the Edge 32 ..............................................................................Corporate Governance 34 .............................................................Environmental and Social Efforts 36 ............................................................Demining Anti-Personnel Landmines: ’09 Project to Reconstruct Safe Village Completed in Cambodia 37 ........................................................................................Financial Section 95 ..............................................................Directors, Auditors and Officers 96 ......................................................Komatsu Group Investment Holdings 98 ............................................................................... Corporate Information On the cover: Komatsu launched full-scale marketing of the PC200-8 Hybrid in April 2009. Cautionary Statement This Annual Report contains 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 Annual Report, 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 2-3-6 Akasaka, Minato-ku Tokyo 107-8414, Japan the economic conditions in the Company’s principal markets; changes in exchange http://www.komatsu.com/ rates or the impact of increased competition; unanticipated costs or delays encountered in achieving the Company‘s objectives with respect to globalized Corporate Planning Division product sourcing and new information technology tools; uncertainties as to the TEL : 81-3-5561-2687 results of the Company‘s research and development efforts and its ability to access FAX : 81-3-3582-8332 and protect certain intellectual property rights; the impact of regulatory changes This report is printed with soybean ink certified as being environment-friendly E-mail : [email protected] and accounting principles and practices; and the introduction, success and timing by the American Soybean Association. of business initiatives and strategies. Printed in Japan Corporate Controlling Department TEL : 81-3-5561-2604 Form No. AEN00001-04 HEAR090706 FAX : 81-3-3586-0374 Feature Section: Greater Asia Major Shareholders (Top Ten) Percentage of Shareholders As of March 31, 2009 As of March 31, 2009 Number of shares held Equity ratio Billions of yen Name of shareholders (in thousands) (%) Corporate 4.1% Securities 1.6% 600 Japan Trustee Services Bank, Ltd. (Trust Account) 62,830 6.4 2,288 shareholders 205 shareholders 41,354,049 shares 16,320,195 shares The Master Trust Bank of Japan, Ltd. (Trust Account) 51,689 5.3 Individual and other 28.2% Financial 37.9% Japan Trustee Services Bank, Ltd. (Trust Account 4G) 49,046 5.0 301,550 shareholders 271 shareholders 282,612,426 shares 379,475,899 shares Taiyo Life Insurance Company 42,000 4.3 Foreign 27.9% Nippon Life Insurance Company 33,283 3.4 500 862 shareholders 278,981,491 shares Sumitomo Mitsui Banking Corporation 17,835 1.8 JPMorgan Chase Bank 380055 17,593 1.8 Note: Percentage figures are shown after dropping the last two places of decimals. The Bank of New York Mellon as Depositary Bank for 14,785 1.5 Depositary Receipt Holders 400 NIPPONKOA Insurance Co., Ltd. 13,962 1.4 Komatsu Employees Shareholding Association 11,175 1.1 Notes: 1. Equity ratio is calculated by subtracting treasury stock. 2. Although Komatsu Ltd. holds 30,340 thousand shares of treasury stock, it is excluded from the Major Shareholders list above. 300 Tokyo Stock Price Range As of May 31, 2009 Yen Stock Prices on the Tokyo Stock Exchange YenYen High High 4,500 50,00050,000 200 Opening Closing 4,000 45,00045,000 Closing Opening Low Low 3,500 40,00040,000 Komatsu stock price (left scale) Black: opening price > closing price 3,000 35,00035,000 White: closing price > opening price 100 2,500 30,00030,000 2,000 25,000 1,500 20,000 We call it “Greater Asia.” As our strategic region and home to some 4 billion people, it accommodates all countries in Asia, 1,000 15,000 Nikkei 225 (right scale) except for Japan, and includes neighboring Russia and the Middle East. In Greater Asia, resource development has been fuel- 0 ing economic growth for the last few years. With its population growing and urbanization advancing, Greater Asia’s briskly 2002 2003 2004 2005 2006 2007 2008 2009 500 10,000