komatsu ltd. (kmtuy)

by:InfiCreation     2020-03-04
Washington, D. C. Securities and Exchange CommissionC. 20549FORM 20-F(Mark One)
Declaration of registration submitted under section 12th (b)OR (g)
Securities Trading Act under Section 13 or 15 of the 1934 annual report (d)
According to Section 13or Section 15, the Securities Trading Act 31,201 3or transfer report for fiscal year 34, 19 (d)
Under the Securities Trading Act of section 13th or 15, the shell company reports (d)
In the Securities Trading Act of the 1934 event date, the shell company is required to report from the entrustment Document No. : 1-
Komatsuisakusho, 7239 Co. , Ltd (
The exact name of the registrant specified in the articles of association)KOMATSU LTD. (
The name of the registrant)JAPAN(
Jurisdiction of registration or organization)2-3-
Ming Zhongming No. 6-ku, Tokyo 107-8414, Japan(
Address of principal\'s office)
Kanagawa Zhengyan or Ono Tel: 81-3-5561-
Fax: 81-2604-3-3586-0374Address: 2-3-
Ming Zhongming No. 6-ku, Tokyo 107-8414, Japan(
Name, telephone, electronic
Mail and/or fax numbers and addresses of company contacts)
Securities registered or to be registered under section 12 (b)of the Act.
Title of each category name of each exchange registered or registered under section 12th (g)of the Act. None(Title of Class)
Securities subject to reporting obligations under section 15 (d)of the Act. Common Stock*(Title of Class)
* 23,145,522 U. S. depositary shares certified by U. S. depositary receipts, and 1 U. S. depositary share per share representing the common stock of Xiaosong Co. , Ltd.
Indicate the number of outstanding shares of each issue class capital or common stock as of the end of the period covered in the annual report.
Excluding 30,351,401 stock stocks)
Indicate by check mark whether the registrant is a well
According to the provisions of Article 405th of the Securities Trading Act, known experienced issuers.
Yesxno if this report is an annual report or a transition report, please indicate by check mark whether the registrant does not need to submit a report under section 13th or section 15 (d)
Securities trading law of 19 34 years.
Indicate whether the registrant (1)
All reports requested in Section 13 or 15 have been submitted (d)
Securities Trading Act of 1934 within the first 12 months (
Or for a shorter period of time when the registrant is required to submit such a report), and (2)
This filing requirement has been bound for the last 90 days.
Yesxno-indicate by check mark whether the registrant has been electronically submitted and posted on his company\'s website (if any), e405 per interaction according to the rules of the S-regulationsT (§232.
This Chapter 405)
Within the first 12 months (
Or in such a short time that the registrant is required to submit and publish such documents).
Yesxno indicates whether the registrant is a large-scale accelerated declarant, an accelerated declarant or a non-accelerated declarant by a check mark
Accelerate files.
See the definition of acceleration file manager and large acceleration file manager in rule 12b-
2 of the Trading Act. (Check one)
: Non-accelerated files for large accelerated files
The acceleration document indicates by check mark the accounting basis on which the registrant is used to prepare the financial statements contained in this document: United StatesS.
GAAPxInternational financial reporting guidelines issued by the International Accounting Standards Board-if other criteria have been checked in response to the previous question, please indicate by check mark which financial statement item the registrant chooses to follow
If this is an annual report, please indicate by check mark whether the registrant is a shell company (
Defined in Rule 12b-
2 parts of the transaction law).
Wild letter this document, Xiaosong Co. , Ltd.
It is the following Company for short, the Company, together with the subsidiary of itsplilidated kommatsu.
Warning statement about forwarding-
Forward-looking statements are contained in this annual report
Based on current information on certain future events, including expected financial status, operational results and business strategies, forward-looking statements reflecting management views and assumptions.
These statements can be expressed by using similar terms and expressions such as \"will\", \"believe\", \"should\", \"project\", \"plan\", \"expectation\" and identifying future events or expectations
The actual results may differ greatly from the predicted results, such forward-looking events and results
There is no guarantee of what it looks like. Any forward-
The outlook statements speak only on the date of this annual report and the company is not obliged to update them.
Factors that may lead to significant differences between actual results and such forward prediction results-
Forward-looking statements include, but are not limited to, unexpected changes in demand for Komatsu\'s main products due to changes in Komatsu\'s main market economy;
The impact of exchange rate changes or increased competition;
Unexpected costs or delays encountered in achieving Komatsu\'s goals in global product procurement and new information technology tools;
There is uncertainty about Komatsu\'s research and development achievements and its ability to acquire and protect certain intellectual property rights;
The impact of regulatory changes and accounting principles and practices;
Introduction, success and timing of business plans and strategies.
Table ContentsPART iitem 1.
Status of directors, senior management and consultants
Provide statistics and an estimated schedule 1 item 3.
Key Information 1.
Selected Financial Data 1b.
Capitalism and capitalism.
Quotation and reason for use of Proceeds3D.
Risk factor 3 item 4.
Information about company 6a.
The history and development of the company.
Business Overview 8c.
Organizational structure 20d
Property, plant and equipment.
Unresolved staff comments 23 Item 5.
Operational and Financial Review and Outlook
Running results 24b.
Liquidity and sources of funds
R & D, patents, licenses, etc. 47D.
Trend information. Off-
Balance sheet arrangement
Form disclosure of contractual obligations
Safety port 50 project 6.
Directors, senior management and employees.
5 1B directors and senior management.
Compensation 63c.
Article 66 DEmployees67E.
Share ownership 68 Item 7.
Major shareholders and related party transactions
Main shareholder 69 B.
Related party transactions
Interest of experts and consultants 70 item 8.
Financial information 71a.
Financial information such as Consolidated statements 71b.
Major changes in project 9 71.
On offer and Listing72A.
Details72B is available and available.
Distribution plan 74 c. Markets74D.
Sell shareholders. Dilution74F.
Cost of Project 10 of Issue74.
Additional information 75a.
Share Capital75B.
Memorandum and Articles of Association
Material contract 82d.
Exchange controls 82 e. Taxation84F.
Dividend and payment agent
Statement by experts.
Documents on Display 88i.
Item 11 of subsidiary information 88.
Quantitative and qualitative disclosure of market risks
Description of securities other than stock securities 91a.
Debt securities 91b.
Warrants and rights 91c.
Other securities.
Shares91 part IIItem 13, US depositary.
Arrears, dividends and debt arrears
Substantive changes to the rights and use procedures of securities holders
Control and procedure 92 items 16. [Reserved]93A.
Financial expert 93b of the audit committee.
The name of the book.
Major accounting fees and services.
Exemption from the listing criteria of the Audit Committee
Issuers and related purchasers purchase stock securities
The registrant changes 95g of the certified account.
95 h corporate governance
Disclosure of coal mine safety
Financial statements 96 18.
Item 19 of financial statement 96.
Annex 96 Annex 1. 1Exhibit 1.
Annex 2 Annex 11 Annex 12 Annex 13 Annex 1.
The status of directors, senior management and consultants does not apply. Item2.
Provide applicable statistics and expected timelines. Item3.
Key information.
Selected Financial Data selected financial data for each fiscal year as of March 31-20, 2009 to March 31 selected financial data from audited consolidated financial statements prepared by the company in accordance with U. S. accounting standardsS.
General acceptance of accounting principles (x93U. S. GAAPx94).
It shall be read in conjunction with the audited consolidated balance sheet of the company as of March 31, 2012 and 2013, the relevant consolidated income statements and consolidated income Consolidated statements, exercise rights and cash flows for the three financial years ended March 31, 2013 and notes to other parts of the report for the current year.
Select Financial DataMillions yen, in addition to the GAAP report data per share: Net sales1, 884,9911, 981,7631, 84 3,1271, 431,5642, 021,743 operating income211, 602256,343222, 92967,035151, 948 subsidiary of accounting pre-tax income and asset income companies2015, 603249,609219, 80964,9790. 1, 782 income taxes69, 08974,47064, 70625,36442, 293Net Income attributable to Xiaosong company.
126,321167, 0411500,75233, 55978,797 per share data: Net income of Komatsu Co. , Ltd. -Basic132. 64173. 47155. 7734. 6779. 95-Diluted132. 51173. 32155. 6634. 6579.
Cash Dividend 45. 0041. 0026. 0026. 0044. 00U. S. dollar 1)0. 480. 500. 310. 280.
44 Depreciation and amortization 89, 32290, 10689, 46791,31998, 354 capital investment 2)
136,962122 03897,73896 191162,512 R & D expenses60 78854,84349 00546,44953 736 age yenbalance table of data: Total assets2 517,8572 320,5292 149,1371 959,0551 969,059 Komatsu the company.
Holdings equity1, 193,1941, 009,6923, 84 3833,975814 941 capital stock67, 87067,87067, 87067,87067, number of stocks issued on 870
End983, 30,260983, 30,260998, 74 4,060998, the number of shares issued in 744,060
End952, 778,859952, 261,022967, 902,641968, 039,97 6967, 822,2921 note: 1)
The yen\'s exchange rate against the United States. S. dollar is ¥94. 34 to U. S. $1.
On the 00th, the Federal Reserve committee announced the yen buying rate in New York City as of noon on June 14, 2013. 2)
The term \"capital investment\" used in the selected financial data above shall be distinguished from the term \"capital expenditure\" used in the cash flow statement.
The term \"capital investment\" used in the above Selected Financial Data refers to the costs associated with the purchase of property, factories and equipment, including property under accrual-based capital, reflects the impact of the time difference between the acquisition date and the payment date.
Komatsu\'s management uses this financial indicator to manage its capital investment and believes that this indicator is useful to investors, as in addition to the cash-based capital expenditure provided after the merger, cash flow statement of this indicator.
The table below provides the midday buy-in rate for the New York City yen, as indicated by the Federal Reserve Bank of New York and the Federal Reserve in yenS.
Shows the USD for the period.
The average yen exchange rate represents the average noon buying rate for the last working day of each month for the respective period.
On June 14, 2013, the Federal Reserve reported that the buying rate of the yen in New York City at noon was 94 yen. 34 = U. S. $1. 00.
Yen against US dollarS. dollar:(Yen)
Average cycle-
End of Year 312009100. 8587. 80110. 4899. 15201092. 4986. 12100. 7193. 40201185. 0078. 7494. 6882. 76201278. 8675. 7285. 2682. 41201383. 2677. 4196. 1694. 16HighLowPeriod-
End2012December81. 8686. 6486. 642013January86. 9291. 2891. 28February91. 3893. 6492. 36March93. 3296. 1694. 16April92. 9699. 6197. 52May97. 28103. 52100. 832B.
Capital and capital are not applicable. C.
The reasons for providing and using the proceedings do not apply. D.
Risk factors given that Komatsu operates globally and builds development, production, sales and other bases around the world, Komatsu faces various risks.
According to the information currently available, Komatsu identified the following risks as the main risks.
The statements presented in this section should be carefully considered in conjunction with Item 5.
Operating and Financial Review and prospectus and consolidated financial statements in other parts of the report form 20 for this yearF.
The risk discussed below is the risk that individual or overall actual results of Komatsu may differ materially from expected or past results.
However, it should be noted that it is not possible to predict or identify all risks that may apply to Komatsu.
The following risk list should not be considered as a complete risk list that may have a significant impact on Komatsu\'s operating results and/or financial position.
Komatsu\'s operating results and/or financial position may also be affected in the future by other risks that are currently unknown or are not currently considered important or important. (1)
Economic and market conditions Xiaosong\'s business environment and the market demand for its products may change significantly due to economic and market conditions in different regions.
In economically developed countries operated by Komatsu, Komatsu\'s business is usually affected by cyclical changes in the economy of these regions.
As a result, factors beyond Komatsu\'s control, such as housing start-up levels, industrial production, infrastructure development and private investment
Industry capital spending may affect demand for Komatsu products.
In the emerging countries operated by Komatsu, Komatsu has been paying close attention to the changes in the demand for its products.
However, these economies are affected by some unstable factors, such as commodity prices and considerations for exports to economically developed regions, and therefore changes in these factors may adversely affect the commercial results of Komatsu.
In addition, when economic and/or market conditions change more than predicted, Komatsu may also experience a reduction in product orders, an increase in customer cancellation orders and a delay in collection of receivables.
These changes in the economic and market conditions and business environment of Komatsu\'s operations may lead to a decline in sales, low inventory levels and/or inefficient production capacity, resulting in a decline in Komatsu\'s profitability, and incur additional costs and losses.
As a result, the results of the operation of Komatsu may be adversely affected. (2)
Foreign exchange rate fluctuations a large part of Komatsu\'s overseas sales are affected by foreign exchange rate fluctuations.
In general, the appreciation of the yen against another currency will adversely affect the operating results of Komatsu, and the depreciation of the yen against another currency will have a favorable impact on it.
In addition, foreign exchange rate fluctuations may also affect the comparative price between products sold by Komatsu and those sold by their foreign competitors in the same market, as well as the material costs used to produce such products.
Komatsu strives to mitigate the impact of this exchange rate fluctuation by setting its production base globally and engaging in production locally.
Komatsu is also engaged in hedging activities to minimize the impact of short positions.
Exchange rate fluctuations.
Despite Komatsu\'s efforts, Komatsu\'s operating results may be adversely affected if foreign currency exchange rate fluctuations exceed the range expected by Komatsu. 3(3)
Volatility in financial markets, while Komatsu is currently working to improve the efficiency of assets by reducing interest rates --
Bear the debt, its total shortand long-term interest-
As of March 31, 2013, the debt was about 680 billion yen.
Although Komatsu strives to reduce the impact of interest rate fluctuations through various measures, including obtaining funds at fixed interest rates, raising interest rates may increase Komatsu\'s interest expenditure, thus adversely affecting Komatsu\'s operating results.
In addition, fluctuations in financial markets, such as fluctuations in fair value of securities and interest rates, may also increase the unfunded obligations of the Komatsu pension plan or pension liabilities, which may lead to an increase in pension expenditures.
The increase in interest expenditure and pension expenditure may adversely affect the operating results and financial situation of Komatsu. (4)
The laws and regulations of different countries Komatsu are subject to government regulations and approval procedures in the countries in which they operate.
If the government of a certain country is to introduce new laws and regulations or revise existing laws and regulations related to customs duties, currency restrictions and other legal requirements, Xiaosong in order to comply with these laws and regulations, or its development, production, sales and service operations may be adversely affected by these laws and regulations.
With regard to transfer pricing between Komatsu and its affiliates, Komatsu pays great attention to complying with the applicable tax laws of Japan and the relevant foreign governments.
However, the relevant tax authorities may believe that the inappropriate pricing was used by Komatsu.
In addition, Komatsu may be charged double or extra taxes if inter-governmental negotiations fail.
In the face of such an unexpected situation, Xiaosong may have a negative impact on its operating performance. (5)
In many countries where Komatsu operates, environmental laws and regulations require Komatsu\'s products and commercial operations to comply with increasingly stringent environmental laws and regulations.
To this end, Komatsu spent a lot of management resources, such as R & D costs, in order to comply with the environment and other relevant regulations.
If Komatsu is required to bear additional costs and make additional capital investments due to future adoption of revised environmental regulations, or if its development, production, these revised regulations have an adverse effect on sales and service operations, Komatsu may have an adverse effect on its business results. (6)
Product and quality capability, while Komatsu is committed to maintaining and improving the quality and reliability of its operations and products, based on strict standards established internally, if an accidental defect in the product leads to a recall or accident, komatsu may face claims for product and quality liability or other liability.
If Komatsu\'s existing insurance policy or other means of protection does not cover the costs of resolving such claims or other debts, such claims may adversely affect their financial position. (7)
Skomatsu has established various alliances and partnerships with distributors, suppliers and other industry companies to enhance their international competitive power.
Through such arrangements, Komatsu is working to improve product development, production, sales and service capabilities.
Although Komatsu hopes that its alliance and cooperative relationship will succeed, Komatsu\'s failure to achieve the expected results, or the termination of such alliance or cooperative relationship, may adversely affect Komatsu\'s operational results. 4(8)
Parts and material purchases for procurement, production and other products are affected by fluctuations in commodity and energy prices.
Rising prices for commodities such as steel and energy such as crude oil and electricity could increase production costs for Komatsu products.
In addition, the shortage of product parts and materials, the bankruptcy of suppliers or the cessation of the production of products used by suppliers of Komatsu may make it difficult for Komatsu to purchase parts and materials in time and manufacture its products, thus reducing the production efficiency of Komatsu.
Regarding the increase in production costs mainly affected by the increase in material costs, Komatsu mainly strives to reduce other costs and adjust the price of its products.
Komatsu also strives to minimize the impact of possible procurement or manufacturing issues by ensuring closer cooperation between new suppliers or promoting relevant business units.
However, if the rise in commodity and energy prices exceeds Komatsu\'s expectations, or if there is a long-term shortage of materials and parts, the operating results of Komatsu may be adversely affected. (9)
Information Security, intellectual property rights and other mattersKomatsumay obtain confidential information related to customers and individuals during normal business processes.
Komatsu also has confidential information on business and technology.
Komatsu is very careful to protect this confidential information.
Prevent unauthorized access through the network
Appropriate security measures were taken by Komatsu, including the implementation of technical security measures and the strengthening of information management capabilities.
However, when its network and information system crashes and/or problems occur, such as the disclosure of confidential information involving customers and individuals, Komatsu may be liable for damages, confidence in Komatsu may be adversely affected.
In addition, if Komatsu\'s confidential commercial and technical information is leaked or abused by a third party, or Komatsu\'s intellectual property rights are infringed by a third party, or Komatsu is held liable for infringement of the third party\'s intellectual property rights, the operating results of Komatsu may be adversely affected. (10)
Natural disasters, wars, terrorism, accidents and other natural disasters (
Earthquake, Tsunami, flood, etc)
Epidemic, radioactive pollution, war, terrorist acts, riots, accidents (
Fire and explosion, for example)
In the area operated by Komatsu, unforeseen criticism or interference from third parties or computer virus infections will occur, and Komatsu may cause serious damage to one or more of its facilities, these facilities are not fully operational in a short period of time.
Even if the operation of Komatsu is not directly hurt by such incidents, logistics and supply network confusion, shortages of electricity, gas and other utilities, telecom issues and/or issues produced by suppliers can last for a long time.
Therefore, if there is a delay or interruption in the procurement of materials and parts or in the production and sale of Komatsu products and services, or capital deterioration --
Due to these events, the feeding environment or other adverse developments will occur and the commercial results of Komatsu may be adversely affected. 5Item4.
Information about CompanyA.
History and development of the company was established as a joint stock limited company on May 1921 (
According to the name of Komatsu Production Co. , Ltd. under Japanese law (x93Komatsu Ltd. x94 inEnglish).
Its registered office is located in 2-3-
Ming Zhongming No. 6-ku, Tokyo 107-
8414, Japan, its phone number is 81-3-5561-2604 (
Company holding Department).
Soon after its establishment in 1921, the company began to produce and sell paperMolding Press.
In 1931, the company produced the first crawler in Japan --
At 1940 s, the company began producing bulldozers in Japan.
The company expanded its product line.
Start production of grader and dump truck at 1950 s, start production of wheel loader and hydraulic excavator at 1960 s
The history and development of Komatsu\'s global operations can be divided into three stages :(1)
Exports from Japan ,(2)
Production at sea (3)
Manage its global production and distribution network.
Since the first export of products to Argentina in 1955, the export of products has gradually increased.
Komatsu established its first liaison office in India in 1964 and sales companies in Europe, the United States and Asia from 1967 to 1971.
In the 1980 s and 1970 s, Komatsu began to establish production facilities overseas and to increase overseas production by setting up manufacturing plants near their respective markets.
In 1975, Komatsu began production at sea in Brazil, where Komatsu produced bulldozers.
The first manufacturing plant outside Japan.
Subsequently, Komatsu increased its global influence by setting up manufacturing plants in Indonesia, the UK and the United States during 1980.
For example, in the 1980 s, Komatsu and Dresser Industries Inc. established a joint venture in the United States.
Named Xiaosong Dresser Company (
Now known as Komatsu American company. , x93KACx94).
Over the past 1990 years, Komatsu has strengthened its overseas manufacturing capabilities and has worked to optimize production and distribution networks worldwide by forming alliances, joint ventures and other means.
For example, Komatsu established Komatsu Cummins Engine Company. , Ltd.
Industrial Power Alliance Limited
CumminsKomatsu engine company in Japan and the United States, with Cummins Engine Company (
Now known as Cummins. ).
In addition, Komatsu has established three joint ventures in China and a joint venture with German Mannesman demage to establish Demag komommbh (
Komatsu Mining Co. , Ltd. .
The following are some important transactions in the development of Komatsu\'s business in recent years.
On January 2007, the company signed a final agreement to sell the OPE business of komatzino.
Japanese subsidiary of Husqvarna AB, Sweden.
After little song Zeno.
Split its OPE business and set up Zenoah Co.
Small song Zeno company.
Incorporated into Komatsu utility. , Ltd.
On April 2007, due to Xiaosong Utility Co. , Ltd. , Ltd.
Become Zeno company
Parent company.
Tongyue, Xiaosong Utility Co. , Ltd. , Ltd.
All shares of Zenoah Co. Were sold.
To HUSQVARNA Japan Limited(
Now known as Husqvarna Zenoah Co. , Ltd. )
Thus completing the sales of OPE business.
In January 2008, in order to generate more synergies, the company launched an offer to acquire all the shares issued by nipei TOYAMA, which resulted in 93 shares owned by the company.
7% of the entity\'s equity.
On August 2008, Fushan company traded shares with Fushan ripei company, and Fushan ripei company became a wholly owned subsidiary of Fushan company.
On October 2008, toy peifushan was renamed Xiaosong NTC Co. , Ltd.
On April 2009, Komatsu Tokyo Co. , Ltd. (Komatsu, Japan)
Wholly owned subsidiary of the company, merged with 11 other consolidated subsidiaries of the company, including 10 sales subsidiaries and Komatsu all parts support Co. , Ltd.
By absorption-type merger.
The company transferred the sales and service business of construction equipment (
(Excluding underground construction equipment)
By absorbing Japan to Tokyo Komatsu
Company split type
After these transactions were completed, Komatsu Tokyo changed its name to Komatsu construction equipment sales service Japan Co. , Ltd.
April 2010, Xiaosong Industrial Company (
Komatsu Industrial Co. , Ltd.
Wholly owned subsidiary of the company, taking over the product development, sales and service business of large enterprises
The scale of the news business, previously absorbed by the company\'s industrial machinery department-
Company split type.
In April 2011, the company merged with Xiaosong utility. , Ltd.
In absorption-type merger.
Komatsu utilities, Ltd.
It is a wholly owned subsidiary of the company in the production and sale of forklifts and small construction equipment.
6 major capital investment Xiaosong invests annually in the development and production of new products and the improvement of the operational efficiency of production infrastructure, focusing mainly on the construction, mining and utility equipment operation departments.
March 31, 2013 Komatsu x92 s capital investment of Financial Annual 2012 and 2011 for ¥ 136. 962 billion ¥ 122. 038 billion ¥ 97. 738 billion.
Capital investments for the fiscal year ended March 31, 2013, by business unit, are as follows.
Compared to the fiscal year, the capital investment for the 2013 Percent year is 2012, and the construction, mining and utility equipment for the 70610 year is the year.
6% industrial machinery and other 25642.
0% Total 96212 yen. 2%Notes:1)
The amount includes certain leased machinery and equipment that are accounted for as capital leases in accordance with IFRS accounting standard 840. 2)
The term \"capital investment\" used in the above table should be distinguished from the term \"capital expenditure\" used in the cash flow statement.
The term \"capital investment\" used in the above table refers to the cost associated with the purchase of property, factories and equipment, including property under the capital lease, accrual basis, reflects the impact of the time difference between the acquisition date and the payment date.
Komatsu\'s management uses this financial indicator to manage its capital investment and believes that this indicator is useful to investors, as in addition to the cash-based capital expenditure provided after the merger, cash flow statement of this indicator.
In the fiscal year ended March 31, 2013, Komatsu made capital investments in construction, mining and utility equipment operations to expand its capacity, as demand for its equipment is expected to increase in the future, and strengthen its sales and service business in the strategic market (
For a further description of the strategic market, see below).
For example, Komatsu has expanded the production capacity of Komatsu (Shandong)
Construction machinery company
In expectationto long-
Market growth.
Komatsu has made capital investments in industrial machinery and other operations to renovate its facilities.
Komatsu believes that Japan, North America and Europe are their traditional markets, as are the markets in China, Latin America, Asia, Oceania and Africa. The Middle East and the Commonwealth of Independent States (x93CISx94)
As its strategic market.
The table below further details the major construction projects undertaken by Komatsu in the fiscal year ended March 31, 2013.
Komatsu, major facility operations division, completed during the financial year ended March 31, 2013, major facility construction, mining and utility equipment (Shandong)
Construction machinery company
: Expansion of factory products: hydraulic excavator, hydraulic equipment, cast iron material, final drive, etc.
Location: Jining, Shandong province, the capital investment for the fiscal year ended March 31, 2013 is mainly financed by the funds on hand and bank loans.
For information on major capital investments expected by Komatsu for the fiscal year ended March 31, 2014, see Item 4. D.
Property, plant and equipment. 7B.
Business Overview alkgenersu is a global company engaged in the manufacture, development, marketing and sales of various industrial products
Use products and services.
With quality and reliability as the cornerstone of its management policy, Komatsu is committed to providing safe and innovative products and services that meet the needs and expectations of customers.
Komatsu\'s manufacturing business is mainly carried out in factories in Japan, the United States, Brazil, the United Kingdom, Germany, Sweden, Italy, Indonesia, China, Thailand, India and Russia.
Komatsu\'s products are mainly sold in the name of Komatsu\'s brand. Almost all sales and service activities are carried out through its sales subsidiaries, mainly related companies and independent distributors selling products to retail dealers.
The products and services table below lists the net sales of Komatsu by business unit as of fiscal March 31, 2013, 2012 and 2011, which are derived from the company\'s audited consolidated financial statements.
Net sales of each business sector (Million yen)
Construction, mining and utility equipment for the fiscal year ended March 31, 2013 as of March 31, 2012 for the fiscal year ended March 31, 2011. 0%¥1,739,34887. 8%¥1,615,68987.
7% industrial machinery and other 94211. 0%242,41512. 2%227,43812.
3% Total 1,884,991 100. 0% ¥1,981,763 100. 0% ¥1,843,127 100. 0%(1)
Construction, mining and utility equipment has been the main operating unit of Komatsu for the last few decades.
Net sales in this business unit are 89.
For the fiscal year ended March 31, 2013, Komatsu had 0% of total net sales.
Komatsu offers various types of construction, mining and utility equipment from the super
Large machines capable of mining applications on general construction equipment and small construction equipment used in cities.
Komatsu\'s range of products in this business area also includes a wide range of accessories that can be used with the products.
The main products of Komatsu in this business area are divided into the following categories: classification main products and business excavation equipment hydraulic excavators, small excavators and backhoe loaders loading equipment wheel loaders, small wheel loaders and grader and vibrating roller equipment-
Forestry equipment for road dump trucks, articulated dump trucks and crawler trucks
Mechanical protection machine in tunnel
Machines and small
Diameter pipe jacking Machine recycling equipment mobile crusher, mobile soil recycling machine and mobile bathtub grinding machine industrial vehicle forklift truck equipment road maintenance equipment engine and components diesel engine, Diesel Generator Set and hydraulic equipment casting products casting storage and transportation in this area of business remains competitive, komatsu launched the dandansusu strategy in 2003 and has been working to increase the number of DANTOTSU products.
Dantosu means \"unique\" and \"unmatched\" in Japanese \".
Komatsu only specifies one product as DANTOTSU, if this product is considered unique and unparalleled compared to the products produced by Komatsu\'s competitors, because this product is equipped with functions that one or more competitors can\'t match for a period of time.
Since the launch of DANTOTSU products, Komatsu has been working to replace many of its product models with DANTOTSU products.
Komatsu plans to continue with model changes to replace some of its existing building, mining and utility product models with dantosu products.
In addition to the production and development of new products, Komatsu also focuses on downstream businesses such as second-hand equipment business and equipment leasing business.
Used Equipment Company of Xiaosong
Since the medium term, it has been promoting sales of used equipment by holding annual auctions in several places in Japan1990s.
For the fiscal year ended March 31, 2013, the main products developed and brought to market by the construction, mining and utility equipment operation departments are as follows: company product model Komatsu Co. , Ltd.
Hydraulic Excavator-10, PC138US-10, PC200-10, PC200-8M0, PC220-8M0, PC300-8M0, HB205-1M0, PC4000-
Spw160 6-wheel hydraulic excavator-8, PW180-10 bullring 37-22, D39-22, D61EX/PX-23, D61EXi/PXi-
23 wheel load 2 70-7, WA320-7, WA470-
7 dump trucks
3M0/month RMotor GradersGD755-
RForklifts truck sfh40-51, FH45-1, FH50-1(2)
Net sales of industrial machinery and other products in industrial machinery and other business sectors accounted for 11.
For the fiscal year ended March 31, 2013, Komatsu had 0% of total net sales.
The products provided by this business unit are used by a wide range of enterprises, including industrial machinery such as forging and sheet metal machinery and other services.
Komatsu\'s main products in this business area are divided into the following categories: main products and business categories metal forging and stamping pressure large Press, Servo Press, small pressand medium-
Press and forged pressure plate of size-
Laser cutting machine for metal machinery-
Plasma cutting machine, stepping on brake and cutting machine bed, machining center, crankshaft milling machine, grinding machine and wire saw anti-system, ammunition and armor personnel
Thermal power modules and temperature control equipment
Control equipment for commercial semiconductor manufacturing
The use of prefabricated structures and lasers for exposure tools in semiconductor manufacturing 9 during the fiscal year ended March 31, 2013, the main products developed and brought to market by industrial machinery and other operations are as follows: company product model Xiaosong Industry Co. , Ltd-and medium-
Size presseh2f101, H2F600, h1f10-
2 by brakespvs8525 Komatsu NTC Co. , Ltd.
Processing Center-
Monthly SPWire sawsPV500HDPRINCIPAL MARKETSKomatsu operations and competitors in the following six major markets :(1)Japan, (2)the Americas, (3)
Europe and the CIS ,(4)China, (5)Asia (
Excluding Japan and China)
And Oceaniaand (6)
Middle East and Africa.
In this annual report, net sales information by geographical segment is provided in two ways :(1)
By customer location (
Based on the country where the purchaser is located)and (2)
According to the origin of sales (
Based on the country where the seller is located).
The table below lists Komatsu snet sales approved by client locations as of March 31, 2013, 2012 and 2011.
Net sales data by source of sales are listed in item 5. A.
Operating and Financial Review and prospectus, as well as note 22 to audited consolidated financial statements contained elsewhere in this report. (Million yen)
The fiscal year ending March 31, 2013 and the fiscal year ending March 31, 2012 ended at 02420 yen. 2%¥402,50520. 3%¥349,18418.
9% American 96229. 8%460,81423. 3%397,42721.
6% Europe and CIS203, 87810. 8%207,84810. 5%165,4189. 0% China156 0308. 3%270,01713. 6%428,20823. 2%Asia (
Excluding Japan and China)
And Oceania454, 39424. 1%513,57525. 9%398,36621.
6% Middle East and Africa 7036. 8%127,0046. 4%104,5245.
7% Total 1,884,991 100. 0% ¥1,981,763 100. 0% ¥1,843,127 100.
0% international and domestic sales and distribution of construction, mining and utility equipment operations of Komatsu company are conducted primarily through networks of subsidiaries, affiliates and independent distributors.
Except as described below, the small pine nut company sells products directly to customers, and construction, mining and utility equipment is usually sold through independent dealers, who buys this equipment from the company that makes it and its subsidiaries.
Komatsu\'s construction, mining and equipment sales and distribution business in Japan focuses mainly on retail sales to customers, in part installment payments, undertaken by independent dealers, subsidiaries and affiliates of Komatsu purchased a large number of equipment from the company.
In addition, Komatsu has strengthened its equipment leasing service business in Japan, especially construction and public equipment, in response to the strong demand of customers.
Komatsu\'s subsidiaries and independent distributors in Japan form Komatsu\'s service network in Japan to provide customers with comprehensive services.
Support services.
Komatsu\'s network of overseas construction, mining and utility equipment sales and services is a global network that covers almost all parts of the world.
In addition to certain areas, Komatsu sells products to customers through independent distributors around the world, who typically purchase such equipment from the company and its subsidiaries.
With regard to mining equipment, in areas with high demand, such as Australia, Chile and South Africa, Komatsu\'s subsidiaries in these areas provide sales and services directly to customers.
Komatsu\'s liaison office provides sales support and technical support to independent dealers.
The company\'s main sales subsidiaries and affiliates are located in the United States, Brazil, Belgium, Russia, China, Indonesia and the United Arab Emirates.
These subsidiaries and affiliates provide technical assistance to independent distributors and carry spare parts in order to deliver them to customers and distributors in a timely manner.
These subsidiaries and affiliates, as well as independent distributors, provide the services customers may need in construction, mining and utility equipment outside Japan.
In addition, Komatsu provides customers with financing for the purchase of construction, mining and utility equipment, including its retail finance subsidiary and its subsidiaries in major markets such as Japan, the United States and Chile, europe, Thailand, Indonesia, Australia and China.
Komatsu\'s retail finance companies in major markets are providing various types of financing menus, such as Installment Sales and Leasing, according to customers\' needs.
Sales of products by Komatsu in industrial machinery and other business sectors include direct sales to customers and sales through independent dealers and non-affiliated trading companies.
For example, large printing machines are mainly sold directly to customers, while shopping centers-and medium-
Large printing machines are mainly sold through independent dealers.
Supply source Komatsu manufactures all necessary components and parts which are neither economical nor efficient, Komatsu produces some main equipment components internally and purchases other parts and parts, such as electrical components, tires, hoses and batteries from professional suppliers.
Professional suppliers are business partners of Komatsu, providing components and parts that are particularly important to maintain the quality of Komatsu products, or business partners that specialize in providing specific components and parts.
Komatsu also purchased some parts from other business partners, such as metal forgings, machine parts, sheet metal parts and various accessories.
Therefore, material price fluctuations in such parts as steel materials may affect the operating results of Komatsu.
In addition, there is a shortage of parts and materials for the products, and the supplier is bankrupt or the supplier stops producing the products used by Komatsu may make it difficult for Komatsu to purchase parts and materials in time and manufacture its products.
However, Komatsu believes that it has sufficient and reliable sources of supply for its material components, parts and raw materials, and that it has appropriate alternative sources for such use in accordance with its prudent business practices
In general, Komatsu\'s business has experienced some seasonal fluctuations in sales in history.
While markets and products vary, Komatsu\'s combined sales are typically the highest in the fourth quarter.
However, this seasonality is often not important for the results of Komatsu\'s operations.
It has many Japanese and foreign patents, design patents and utility model registrations related to the products.
There are also many pending applications for Japanese and foreign patents.
Under Japanese law, utility model registration is a right granted in relation to those inventions that are eligible for a patent.
Komatsu also produces various products under license agreements with various other companies.
While Komatsu believes that all of its patents and licenses are critical to the operation of its business, it does not believe that any of its patents or licenses or any related patents or license groups will have a significant impact on its expiration or termination on Komatsu\'s overall business, it also does not believe that the activities of any of its classes are substantially dependent on the protection of patents or licenses, patents or licenses.
Komatsu also owns and maintains a large number of trademarks and trade names registered under the laws of different jurisdictions or otherwise protected.
11 competitive environmental construction, mining and utility equipment as a full-line manufacturer
With the development of construction and mining equipment, Komatsu offers from super
Large equipment for mining, general construction equipment for urban use and small construction equipment.
While there is fierce competition in all product categories in this operations division based on sales, Komatsu continues to be one of the market leaders in construction and mining equipment in every geographic area it operates.
In many countries in the Asian market, Komatsu is a market leader in construction and mining equipment.
In the construction and mining equipment business, Komatsu\'s competitors include global competitors, regional competitors and local professional competitors.
Caterpillar is a major global competitor. (x93Caterpillarx94)
Hitachi Engineering Machinery Co. , Ltd. , Ltd. (
Hitachi Construction Engineering)
Volvo Construction EquipmentV. (x93Volvox94)
Liebherr Group (
Liebherr Group).
The competitive environment varies depending on the region and product model.
North America is the world\'s largest market for construction equipment, and Caterpillar is the market leader in sales.
Deere, which has formed an alliance with HitachiConstruction, is also based on sales and occupies a strong market position in the North American construction equipment field.
With regard to mining equipment, Komatsu\'s main competitor in North America is Caterpillar, which has a full line of production linesup of products.
In Europe, in addition to global manufacturers with full production lines,
In terms of construction equipment such as Caterpillar, Volvo and Liebherr Group, there are many regional or local professional competitors with a solid foundation in the local construction equipment market.
Komatsu competes with different competitors in every country or region of Europe, and it is expected that the construction equipment market in Europe will continue to compete fiercely.
In Asia, Komatsu\'s competitors in the construction equipment market include Caterpillar, Hitachi Construction and South Korean manufacturers such as Hyundai Heavy Industries. , Ltd.
And Doosan. , Ltd.
In addition to the above products, Komatsu also competes with some local professional manufacturers of construction equipment in China.
Mention of competitors
Regarding mining equipment, Komatsu\'s main competitor in Asia (Including China)
Is Caterpillar a mining equipment manufacturer with a full production line? up of products.
As for industrial vehicles, Komatsu competes with global competitors who provide full-line services.
Such as the forklift of asToyota Industrial Company (x93Toyotax94)
As well as local professional manufacturers.
The main markets for forklifts are traditionally Europe, the United States and Japan.
Recently, China has overtaken Europe as the largest market for forklifts.
Europe and the United StatesS.
Forklift manufacturers not only sell forklifts, but also warehouse equipment, Komatsu and other Japanese manufacturers (
Not including Toyota)
Forklifts are mainly concentrated on forklifts.
In China, Komatsu competes with many local professional manufacturers in addition to Europe and the United States. S.
Korean and Japanese manufacturers.
Despite the fierce competition, Komatsu believes that the following advantages provide a competitive advantage for Komatsu in the global market for construction, mining and utilities equipment: DANTOTSU products are products with truly outstanding features or qualities in fuel efficiency, information and communication technologies (x93ICTx94)
Reduce environmental features such as carbon dioxide emissions and fuel consumption.
Komatsu specified the product as a DANTOTSU product because it believed that the product had a feature that competitors could not match for a period of time. 12KOMTRAX (
Komatsu machine tracking system)
KOMTRAX was the first system developed and launched by Komatsu in 2001.
With KOMTRAX, customers can use information technology applications such as global positioning systems (x93GPSx94)
Mobile Communication Technology.
Using information collected through KOMTRAX, such as location and operation time, customers operating equipment equipped with KOMTRAX are able to operate the equipment more efficiently and cost-effectively because they are able to reduce fuel use and maintenance costs.
In addition, the system enables distributors to improve their parts and service operations, thereby increasing the time required to respond to customer service requests.
Recently, Komatsu expanded the application of KOMTRAX and launched the komtrax plus, which provides a means to monitor the health status of major components on large machines, such as mining equipment.
More specifically, komtrax plus transfers machine data to Komatsu and service personnel in order to carry out effective preventive maintenance in advance, thereby reducing the cost of repair for customers and minimizingAHS (
Autonomous transportation system
AHS is a system that controls Super operations
Large dump truck for large-scale mines.
Komatsu first introduced AHS in copper mines in northern Chile, where it is now fully operational.
Komatsu began to provide AHS for Xiao iron mine at the end of 2008 as its second device.
Komatsu is the only company providing this system in the mining equipment industry.
On June 2008, Komatsu released the world\'s first hybrid hydraulic excavator with less fuel consumption and less carbon dioxide emissions (CO2).
Komatsu believes that in terms of such equipment, it has a competitive advantage in the market, not only because it is one of the first countries to develop and sell such equipment, it is also because these devices are using advanced technology to reduce carbon dioxide emissions and fuel consumption, which is a function that customers have been paying attention to in recent years.
As of March 31, 2013, Komatsu has launched hybrid excavators in Japan, North America, Central and South America, Europe, China, Southeast Asia, Oceania and other places.
In the industrial machinery and other operating departments, the main products of Komatsu include (1)
Metal Forging Press ,(2)
Sheet metal machinery and (3)machine tools.
As discussed below, the market competition for these products is very fierce. (1)
Metal forging and stamping pressure Komatsu manufactures and sells stamping presses that are used to punch doors and roofs of cars and various other parts into shapes.
Komatsu s stamping can be divided into large-
Medium and medium printing machinesand small-sized presses.
In 2012, as the world economy showed signs of improvement, capital investment by carmakers began to pick up, especially in Asian markets such as China and Thailand.
Therefore, the demand for stamping press has increased.
About big-
Komatsu believes that IHI Corporation, Hitachi ZosenFukui Corporation and AIDA Engineering Co. , Ltd. mainly sell medium-sized printing machines to automobile manufacturers. (x93AIDAx94)
The Japanese and German companies are their main competitors.
In Japan, Japanese manufacturers, including Komatsu
Japanese manufacturer
Similarly, German manufacturers in Germany dominate and have a competitive advantage among non-German manufacturers.
German manufacturer
In other markets, in addition to the above-mentioned markets, regional and local professional competitors
The major manufacturers mentioned compete with other manufacturers, making the market competitive.
Under such market conditions, Komatsu standardized the models of large cars.
In order to improve production efficiency and increase the number of service personnel and offices to strengthen its global service force, the AC servo press with the right size.
In addition, large local production
The medium-sized AC servo press has started in China and has increased its sales promotion in emerging countries such as China and Brazil.
13 about small-and medium-
Asian size printing machine (Including Japan)
It is the biggest market for Komatsu.
Komatsu\'s main competitors in these products include AIDA and Amada Co. , Ltd. (x93Amadax94)
Minster Machine Company in Japan, USA and China Machine Industry Company. , Ltd. of Taiwan. Komatsux92ssmall-
In March 2013, the larger AC servo press was completely redesigned and its specification menu was enhanced.
Small locally produced
The large scale AC Servo Press started from China and increased its promotion in China. (2)
Sheet metal machinery Komatsu\'s sheet metal machinery business is mainly focused on the machine of cutting and bending steel plates, and Japan is the main market of Komatsu.
Komatsu\'s competitors include other Japanese manufacturers such as Amada, Mitsubishi Electric, Yamazaki Mazak and Koike Sanso Kogyo. , Ltd.
Because of its huge product line, Amada has a large market share in this business. up.
One of the main products of Xiaosong sheet metal machinery business is plasma cutting machine.
With Komatsu\'s original technology, Komatsu\'s plasma cutting machine has high productivity and excellent cost performance in terms of operation and initial cost while maintaining the cutting quality equivalent to the laser cutting machine.
These features are highly valued in this market and have enabled Komatsu to improve profitability in this business.
In addition, Komatsu\'s 3D laser cutting machine that can be used to cut 3D objects is highly valued in the sheet metal machinery market.
In May 2013, Komatsu began selling fiber laser cutting machines, the next generation of sheet metal machines in Komatsu. (3)
The main product of machine tool Komatsu machine tool is the machine tool used to cut and manufacture engine parts (
Crankshaft Mill, grinding machine), general-
For machining center and wire saw.
The main competitors in the machine tool market for cutting and manufacturing engine parts include Japan\'s JTEKT company and Enshu Co. , Ltd. and Germany\'s gebr üder masmaschinenfabrik
Komatsu believes that it continues to maintain a competitive advantage in the global machine tool market, which cuts and manufactures engine parts based on its technical advantages and a wide range of product linesup.
In addition, the wire saw used to cut silicon ingots, used to manufacture solar cells, is one of the main products of Komatsu machine tool business, and China is the main market of Komatsu machine tools.
The main competitors in the wire saw market include Swiss manufacturers Shaping Systems SA and Meyer Hamburg technology.
Komatsu\'s wire saw was highly valued by customers for its original wire technology.
Komatsu maintains its competitive position in the rope saw market by launching diamondswire saws.
In addition, Komatsu is developing wire saws for machines other than solar cells, which will be a new processing area for Komatsu.
Regulation of Komatsu is subject to a wide range of laws and regulations in the countries and regions in which it operates, including safety regulations, emission restrictions, noise and product vibration, as well as various environmental controls over the production process, such as the management of toxic chemicals and hazardous wastes, green procurement and recycling.
Failure to comply may result in fines or penalties.
Komatsu is committed to complying with applicable laws and regulations.
Komatsu does not expect that the cost of complying with existing and reasonably foreseeable laws and regulations will have a significant impact on its financial position and operational results, however, it is difficult to predict and estimate compliance costs and the burden that new laws may place on their operations.
The following summarizes some important laws and regulations that affect Xiaosong\'s business.
14 regulations on engine emissions Japan Ministry of Land and transportation (x93MLITx94)
Low approval system introduced
The emission-type construction equipment used in construction in 1997 sets the maximum emission level according to the model and power range.
Under this system, manufacturers are required to submit an application to MSRP to approve their low
Emission-type construction equipment that meets MSRP specified standards.
In 2006, Japan implemented a new law to control non-motor vehicle emissions.
Road-specific vehicles with a power range of 19 KW to 560 KW kilometers.
With respect to the implementation of this new law, the maximum emission level of such equipment has been reduced and the MSRP approval system has been modified, requiring the manufacturer to submit an application to MILT for approval of such non-
Special vehicles for roads (
Not needed before).
MSRP and related ministries have further introduced new maximum emission limits, which are similar to the temporary level 4 standard in the United States. S.
The third phase B standard in Europe, and the first phase of this new restriction, came into effect in Japan from 2011.
The next set of emission level limits that Japan must comply with is expected to take effect in 2014, similar to the US level 4 standardS.
The European Phase IV standard is also expected to take effect in 2014.
In the United States, the United StatesS.
Environmental Protection Bureau (x93EPAx94)
Emission standards are established for diesel engines used in construction equipment, and the first-class standard for engines of 130 KW or higher came into effect for the first time in 1996.
Since then, EPA has lowered its emission standards, and the current effective interim four-level standard has been implemented in stagesin since 2011.
A more stringent level 4 standard plan is implemented in stages
At 2014.
In Europe, engine emission Directive 97/68/EC, regarding the prohibition of installation on off-
Road mobile machinery was launched in 1999.
The directive was amended by several directives and the latest Directive 2011/88/EU came into force on 2011.
The third phase B standard has been implemented in stages-in since 2011.
The next phase (
Phase IV standard)
Plan in stages-
The 2014 season starts similar to Japan and the United States.
National standard for engine emissions in China gb20891-
2007 introduced by the Air Pollution Prevention and Control Act and the Environmental Protection Act, issued on 2007 and entered into force on 2007.
The current effective phase 2 standard has been implemented in stages --insince 2009.
Both standards are mandatory, similar to the EU Directive 97/68/EC.
Ministry of Environmental Protection (x93MEPx94)
The local representative supervises the implementation of the standards.
With regard to regulations on noise and vibration in Japan, MSRP has established an approval system for low noise and vibration
Noise emission and low
Vibrating construction equipment in 1983.
Under this system, manufacturers are required to submit an application to mliti to approve their lownoise and low-
Vibrating construction equipment that meets the standards specified by MSRP.
Initially, this noise emission and vibration approval system was used only for noise emission.
The current noise emission level measurement methods and limits of the type certification system will take effect from October 1997.
Although the maximum noise emission standards set by MSRP are not legally binding, in practice, these highest standards must be observed in Japan, because only building equipment that is approved as required is allowed to be used for construction projects under the direct control of MSRP.
The type certification system has been used for low
Vibration construction equipment since October 1996.
Similar to the noise emission type certification system, the maximum vibration standard set by MSRP is not legally binding.
However, unlike the noise emission type certification system, construction equipment such as vibrators and hydraulic excavators, projects that do not have such approval can be used for construction projects under the direct control of MSRP.
15 in Europe, directive 5/27/EC of June 9, 1995 of the European Parliament and Council amended Council Directive 86/662/EEC on restricting noise from hydraulic excavators
Operating excavators, bulldozers, loaders and excavators-
The loader will take effect from January 1997.
The directive defines the maximum license
The power level of these Earth-fired air noise
Move the machine under dynamic operating conditions and require the manufacturer to obtain the EC type
Test certificate.
The second phase of the directive requires further noise reduction, effective from January 2006.
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