04 29-13 komatsu results-q4-2

1

Akira Sugiki

Senior Executive Officer General Manager, Business Coordination Department

Komatsu Ltd.

Tasks and Projection for FY2013 ending March 31, 2014

April 25, 2013

2

2. Outlook of two business segments - Construction, Mining and Utility Equipment While demand for mining equipment should decline, demand for construction equipment should advance in Japan and 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 Others While sales of presses and machine tools should remain stable, demand for wire saws should remain sluggish. 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 Change Net 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% +3.7pts Net income *1 126.3 bil yen 184.0 bil yen +45.7% ROE 11.5% 14.6% +3.1pts Net debt-to-equity ratio [Excl. retail finance business]

0.49 [0.20]

0.39 [0.12]

(0.10)pts [(0.08)pts]

3. Cash dividends We 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

FY2012 Results USD 1 = JPY 82.5

EUR 1 = JPY 106.6 RMB 1 = JPY 13.2

FY2013 Projection USD 1 = JPY 95

EUR 1 = JPY 123 RMB 1 = JPY 15.3

Changes

Increase (decrease)

Change %

Net sales 1,884.9 2,050.0 165.0 8.8%

Construction, Mining & Utility Equipment Industrial 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 Equipment Industrial Machinery & Others

208.9 6.2

302.0 6.0

93.0 (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 10yen

11.2%

- 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 of parts, 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 of inter-segment transactions

Billions of yen

2.9%

14.9%

16.3%

14.9%

4

286.3 292.7 308.0

237.8 276.4 319.0 120.6 100.3 114.0 205.2 259.2

282.0 79.7 89.4

96.0 201.3 119.9 140.0

319.4 218.0 258.0

161.8 193.0 198.0 36.4 29.6 41.0 90.4 98.0 92.0

0

500

1,000

1,500

2,000

2,500

FY2011 FY2012 FY2013(Projected)

Africa

Middle East

Oceania

Asia

China

CIS

LatinAmericaEurope

NorthAmericaJapan

246.2 208.9

302.0

0

5

10

15

20

0

100

200

300

400


14.1%

% Billions of yen

% Japan North America Europe Latin

America CIS China Asia Oceania Middle East Africa Total

FY2012 +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 by 10.2%, 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 profit ratio 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/RMB

Growth rate (year-on-year)

Sales by region (To outside customers) Breakdown (%) Segment profit Billions of yen

Construction, Mining & Utility Equipment : Projection of Sales (to Outside Customers) by Region and Segment Profit

: Segment profit ratio Sales before elimination of inter-segment transactions

1,848.0 1,677.0

Japan 17%

North America

17%

Europe 6% Latin

America 15%

CIS 5%

China 8%

Asia 14%

Oceania 11%

Middle East 2%

Africa 5%

FY2013 (Projected)

Japan 17%

North America

17%

Europe 6%

Latin America

15%

CIS 5%

China 7%

Asia 13%

Oceania 12%

Middle East 2%

Africa 6%

Strategic Markets

60%

Traditional Markets

40% FY2012

Strategic Markets

60%

Traditional Markets

40%

+44.5% (15.2)%

5

208.9

302.0

0

100

200

300

400

FY2012 FY2013(Projected)

Positive factors Negative factor

16.3% 12.4%

+93.0 billion yen

【Positive factors】 Fixed costs: +7.0 Selling prices & others: +29.1 Foreign 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 be compensated for by the increase in selling prices resulting from improved selling prices. Coupled with the foreign exchange gain from the Japanese yen’s depreciation, we project that segment profit will advance by JPY93.0 billion from FY2012.

FY 2012 vs. FY 2013 Projection Billions of yen

JPY82.5/USD JPY106.6/EUR JPY13.2/RMB

JPY95/USD JPY123/EUR JPY15.3/RMB

Segment profit ratio

Total: +93.0 billion yen

Foreign exchange rates

+70.0

Fixed Costs +7.0

Selling prices & others

+29.1

Volume difference

(13.0)

Construction, Mining & Utility Equipment: Causes of Difference in Projected Sales & Segment Profit

[Billions of yen]

6

+22%

+13% +16%

+13% +15%

-20% -20%

45%

+5%

-7%

+4%

-60%

-40%

-20%

0%

20%

40%

60%

0

100,000

200,000

300,000

400,000

500,000

600,000

FY03

FY04

FY05

FY06

FY07

FY08

FY09

FY10

FY11

FY12

FY13

Japan North AmericaEurope ChinaOthers Y-O-Y growth rate

100

80 64

+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%

0

30,000

60,000

90,000

120,000

150,000

'07/4-6'07/7-9'07/10-12'08/1-3'08/4-6'08/7-9'08/10-12'09/1-3'09/4-6'09/7-9'09/10-12'10/1-3'10/4-6'10/7-9'10/10-1211/1-3'11/4-6'11/7-9'11/10-12'12/1-3'12/4-6'12/7-9'12/10-12'13/1-3

Japan North AmericaEurope ChinaOthers Y-O-Y growth rate

92

97

Index : FY2007=100

91

94

FY2012: While demand increased steadily in Japan and North America, that in China and Indonesia dropped drastically, resulting in a decrease of 7% from FY2011. FY2013: In addition to Chinese demand having bottomed out in FY2012, we project that demand will increase by about 4% from FY2012, supported by steady growth of demand continuing in Japan and North America.

Construction & Mining Equipment: Demand and Outlook for 7 Major Products

Quarterly demand for 7 major products Annual demand for 7 major products Units

Growth rate

Growth rate Units

Demand: Estimated by Komatsu (Projected)

7

0

5,000

10,000

15,000

-100%

-75%

-50%

-25%

0%

25%

50%

75%

100%

FY07

/1Q 2Q 3Q 4QFY

08/1Q 2Q 3Q 4Q

FY09

/1Q 2Q 3Q 4QFY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4QFY

12/1Q 2Q 3Q 4Q

Demand (units) Y-O-Y growth rate

0

20,000

40,000

60,000

80,000

0

10

20

30

40

50

60

70

80

90

100

'80 '82 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12 '13Private-sector non-residentialPrivate-sector residentialGovernment construction

FY

FY2012: Demand advanced by 25% from FY2011, mainly driven by demand in the earthquake and tsunami-destroyed regions. 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 90 40 45 45

Index : FY07/4Q=100

4Q: +16%

Units

Construction & Mining Equipment: Demand in Major Markets and Outlook (1) Japan

Construction investment Trillions of yen

Year-on-year growth rates of 7 major products Demand for new equipment/

Exports of used equipment (Units)

Property bubble FY12: +25%

FY13: +7% to +12% (projected)

[Sources] : Construction investment by the Ministry of Land, Infrastructure, Transport & Tourism, and Research Institute of Construction and Economy Demand for 7 major products estimated by Komatsu No. of used equipment estimated by Komatsu

(Projected)

Demand for new equipment (7major products) and construction investment Quarterly demand for 7 major products

Growth rate

Demand for new equipment

Used equipment bubble Exports of used

equipment

Pref. Municipality District Schedule (calendar year)

’13 ’14 ‘15 ‘16

Iwate Rikuzentakata Takata, Imaizumi

Miyagi

Minamisanriku

Shizugawa (East)

Shizugawa (Mid)

Shizugawa (West)

Fishing Port

Onagawa Miyagasaki

Higashi matsushima Nobiru

Natori Yuriage

0

5,000

10,000

15,000

20,000

25,000

30,000

FY11 FY12

Rental

Regular

Units

Demand for hydraulic excavators

(Regular & rental uses)

Large-scale residential relocation projects in the areas affected by the Great East Japan Earthquake (planned)

104

+16%

+30%

8

0

10,000

20,000

30,000

-60%

-40%

-20%

0%

20%

40%

60%

FY05

/1Q 2Q 3Q 4QFY

06/1Q 2Q 3Q 4Q

FY07

/1Q 2Q 3Q 4QFY

08/1Q 2Q 3Q 4Q

FY09

/1Q 2Q 3Q 4QFY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4QFY

12/1Q 2Q 3Q 4Q


0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

0

50

100

150

200

250

Housing starts (calendar year)Demand for major 7 products

FY

0

10,000

20,000

30,000

40,000

50,000

60,000

FY11 FY12

+16%

100 91 66

39 33 48 64

67

+10%

+5%

+40%

-5%

Residential Non-residential

FY2012: Demand advanced by 18% from FY2011, largely driven by demand in the rental industry and the housing sector. FY2013: We project demand will continue to grow by 15% to 20% from FY2012, centering on strong demand in the rental industry and the housing sector.

Construction & Mining Equipment: Demand in Major Markets and Outlook (2) North America

Demand for 7 major products and US housing starts Quarterly demand for 7 major products

Breakdown of demand by segment (Unit based)

FY12: +18% FY13: +15% to +20% (projected)

Housing starts in ten thousands

Demand for 7 major products

Units 11yrs 9 yrs 6 yrs

Year-on-year growth rates

[Source]: Housing starts by U.S. Department of Commerce Demand for 7 major products estimated by Komatsu

4Q: +5%

Index : FY05/4Q=100

Units Growth rate

Units <Breakdown> <Units>

Others Rental Mining & energy Road Construction

Others

Rental

Mining & energy

Road

Construction Residential

Non-residential

28% 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

010,00020,00030,000

-80%-60%-40%-20%

0%20%40%60%

FY07

/1Q 2Q 3Q 4QFY

08/1Q 2Q 3Q 4Q

FY09

/1Q 2Q 3Q 4QFY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4QFY

12/1Q 2Q 3Q 4Q


0%

20%

40%

60%

80%

100%

FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12(April-Feb.)

Southern

Eastern

Other WesternCountries

Northern

The U.K.,France, andGermany

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

95 96 97 98 99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13FY

Units Units

100

36 52 50 38

Index : FY07/4Q=100

FY12: -5% FY13: -5% to 0% (projected)

4Q: -14%

Breakdown of demand by region

43

FY2012: Demand declined by 5% from FY2011, reflecting sluggish demand in southern and eastern Europe. FY2013: We project that demand will remain about flat (-5% to 0%) from FY2012.

Construction & Mining Equipment: Demand in Major Markets and Outlook (3) Europe

Annual demand for 7 major products Quarterly demand for 7 major products

Year-on-year growth rates of 7 major products Growth rate

Demand: Estimated by Komatsu

10

0

4,000

8,000

12,000

16,000

20,000

24,000

4 5 6 7 8 9 10 11 12 1 2 3

FY 2013 (Projected)FY 2012FY 2011FY 2010

0

10,000

20,000

30,000

40,000

50,000

-50%

0%

50%

100%

150%

200%

250%

FY07

/1Q 2Q 3Q 4QFY

08/1Q 2Q 3Q 4Q

FY09

/1Q 2Q 3Q 4QFY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4QFY

12/1Q 2Q 3Q 4Q


0

50,000

100,000

150,000

'02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13

Demand for 7 major products (foreign makers) Units

FY12: -41 % FY13: +3% to +8% (projected)

Units

Month

Hours

4Q: -32%

Year-on-year growth rate

FY2012: 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 second half period and increase by 3% to 8% from FY2012.

(Projected) FY

100

177

234

119 83 81

Unit : FY07/4Q=100

Construction & Mining Equipment: Demand in Major Markets and Outlook (4) China

KOMTRAX in China : Average operating hours per month

Growth rate Units

Monthly 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%

0

50

100

150

200

250 Operating hours Y-o-Y Growth rate

Demand for 7 major products and hydraulic excavators estimated by Komatsu

Growth rate

11

0

2,000

4,000

6,000

8,000

-80%

-40%

0%

40%

80%

120%

160%FY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4Q

FY12

/1Q 2Q 3Q 4Q

FY13

/1Q 2Q 3Q 4Q

Forest AgroConstruction MiningY-O-Y growth rate

0

3,000

6,000

9,000

12,000

-80%

-40%

0%

40%

80%

120%

160%

FY07

1Q 2Q 3Q 4QFY

08 1Q 2Q 3Q 4Q

FY09

1Q 2Q 3Q 4QFY

10/1Q 2Q 3Q 4Q

FY11

/1Q 2Q 3Q 4QFY

12/1Q 2Q 3Q 4Q

IndonesiaOthersMalaysiaThailandY-O-Y growth rate

0

10,000

20,000

30,000

40,000

'04 '05 '06 '07 '08 '09 '10 '11 '12 '13

Indonesia

Other countries

Malaysia

Thailand

100 59

113 161

227

Growth rate

Units

4Q: -29 %

Units

(Projected)

FY12: -13% FY13: -13% to -8% (projected)

Y-O-Y growth rate

FY2012: While overall demand remained firm, centering on Thailand, with an exception of Indonesia, demand in coal mines in Indonesia plummeted in the second and subsequent quarters. As a result, total demand declined by 13% from FY2011. FY2013: We project that demand will start recovering slowly in Indonesia in the second half period and onward, and that full-year total demand will decline by 13% to 8% from FY2012.

FY

Construction & Mining Equipment: Demand in Major Markets and Outlook (4) South East Asia

Quarterly demand for 7 major products (foreign makers) Annual demand for 7 major products

Indonesia: demand for 7 major products by sector

Units

Demand: estimated by Komatsu

161

Index : FY07/4Q=100 4Q: -41%

Projection

Growth rate

Index : FY07/4Q=100

12

0

100

200

300

400

500

600

700

'03 '06 '07 '08 '09 '10 '11 '12 '13

Africa &M.East

Oceania

Asia

China

Eurioe &CIS

LatinAmerica

NorthAmerica

105.0 113.0 118.0 138.5 158.0 171.5 201.0

154.5 152.0 120.0 141.5

159.0 148.0

182.0

0

100

200

300

400

500

'07 '08 '09 '10 '11 '12 '13

Construction

Mining

0

2,000

4,000

6,000

8,000

10,000

'03 '06 '07 '08 '09 '10 '11 '12 '13

Africa &M.EastOceania

Asia

China

Europe &CISLatinAmericaNorthAmerica

28 87 14

141 81

342

Coal ($/t)Iron ore($/t)Copper (￠/lb)

Units

[+7%] [+15%]

[-35%]

[+40%]

[+51%]

[+12%] [+25%]

[-14%]

[+15%]

[+33%]

356.5

422.0

361.5

292.0

417.0

554.0

125.5

[+22%]

[+18%]

Billions of yen

FY FY

[ ]:Y-O-Y growth rate

Demand: 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 depreciation Parts: Sales of parts totaled JPY319.5 billion for FY2012, remaining flat from FY2011. For FY2013, we project that sales will reach JPY383 billion, up 20% from FY2012,largely supported by expanding volume of sales and the Japanese yen’s depreciation.

[April, 2013] ↓

Copper

Iron ore

Thermal coal

[ ]: Y-O-Y growth rate

Construction & Mining Equipment: Demand for Mining Equipment by Region and Komatsu’s Sales Projection

Demand for mining equipment by region Sales by region (Incl. parts and service)

(Projected) (Projected) Demand: estimated by Komatsu

Dump trucks: 75 tons (HD785) and larger, Bulldozers: 525HP (D375) and larger, Excavators: 200 tons (PC2000) and larger, Wheel loaders: 810HP (WA800) and larger, Motor graders: 280HP (GD825) and larger

238.0

280.0

317.0

265.0

319.5

383.0

259.5

Parts 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

0

20

40

60

80

0

20

40

60

80

16.7

6.2 6.0

0

6

12

18

0

10

20

30


Sales Segment Profit （％）

FY2012 FY2013 (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)%

251.1 216.2 205.0

0

100

200

300


6.7%

2.9% 2.9%

Machine tools

Presses

Backlog orders Segment profit ratio

Billions of yen Billions of yen Billions of yen

Billions of yen Billions of yen Breakdown of sales

While we project that sales of presses and machine tools should remain stable, demand for wire saws will remain sluggish in FY2013. Accordingly, we project that sales will decline by 5.2% from FY2012, to JPY205.0 billion, and segment profit by 3.6% to JPY6.0 billion for FY2013.

Industrial Machinery & Others: Projection of Sales and Segment Profit

14

Billions 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 and effects of the Japanese yen’s depreciation.

Billions of yen

Retail Finance Business

Consolidated retail finance subsidiaries

2. Revenues 1. Assets

50.8

62.2

11.8 14.1

0

20

40

60

80

FY2012 FY2013(Projected)

RevenuePretax income

Japan Japan Europe Europe

China China

Oceania Oceania

Others Others

North America

North America

0

100

200

300

400

500

600

Mar.31, 2013 Mar.31, 2014(Projected)

530.9 524.9





15

43.0 53.2 57.0

11.9

7.6 8.0

2.8% 3.2% 3.2%

0

20

40

60

80

100


Industiral Machinery & OthersConstruction, Mining & Utility Equipment

58.4 71.8 79.0

5.5

8.0 5.0

48.7 49.9

40.0

0

20

40

60

80

100


Industrial Machinery & OthersConstruction, Mining & Utility Equipment

63.9

-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-intensive construction equipment. -Fixed costs: We will continue to keep them at a low level in order to investment fund for future growth.

54.8

0

100

200

300

400

500


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 the straight-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 and equipment. 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 of depreciation expense by approximately JPY10 billion for the fiscal year ending March 31, 2014.

79.8 84.0

60.8 65.0

Investment in production and other facilities* and depreciation R&D Expenses Fixed costs Billions

of yen

Billions of yen

Billions of yen

*Excl. investment in rental assets

Projection of Capital Expenditures, Depreciation, R&D Expenses and Fixed Costs

Excl. Foreign exchange rates factor Excl. Foreign exchange rates factor

16

Cautionary Statement This presentation sheets contain forward-looking statements that reflect management’s views and assumptions in the light of information currently available with respect to certain future events, including expected financial position, operating results and business strategies. These statements can be identified by the use of terms such as ”will,” “believes,” “should,” “projects,” “plans,” “expects,” and similar terms and expressions that identify future events or expectations. Actual results may differ materially from those projected, and the events and results of such forward-looking assumptions cannot be assured. Any forward-looking statements speak only as of the date of this presentation sheets, and Komatsu assumes no duty to update such statements. Factors that may cause actual results to differ materially from those predicted by such forward-looking statements include, but are not limited to, unanticipated changes in demand for the Company’s principal products, owing to changes in the economic conditions in the Company’s principal markets; changes in exchange rates or the impact of increased competition; unanticipated costs or delays encountered in achieving the Company’s objectives with respect to globalized product sourcing and new information technology tools; uncertainties as to the results of the Company’s research and development efforts and its ability to access and protect certain intellectual property rights; the impact of regulatory changes and accounting principles and practices; and the introduction, success and timing of business initiatives and strategies.

Business Coordination Department, KOMATSU LTD. TEL: +81-3-5561-2687 FAX: +81-3-3582-8332 http://www.komatsu.com/

D61PXi-23 medium-sized bulldozer which features the world's first* fully auto blade control * Based on Komatsu's research concerning seven major products, i.e., crawler-type hydraulic excavator, wheel-type hydraulic excavator, wheel loader, bulldozer, motor grader, rigid dump truck and articulated dump truck