FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of March 2002
COMMISSION FILE NUMBER: 1-7239
KOMATSU LTD.
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Translation of registrant's name into English
3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan
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Address of principal executive offices
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INFORMATION TO BE INCLUDED IN REPORT
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1. One company announcement made on March 1, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
KOMATSU LTD.
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(Registrant)
Date: March 1, 2002 By: /s/ Kenji Kinoshita
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Kenji Kinoshita
Executive Officer
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[LOGO]
KOMATSU
For Immediate Release
March 1st, 2002
Komatsu Ltd.
Masahiro Sakane, President.
Nobuyuki Kanatomi, General Manager,
Public Relations & Advertising Dept.,
as liaison.
Tel: +81-3-5561-2616
URL: http://www.komatsu.com/
On Revision of Business Forecast
In view of the recent business conditions and its performance, Komatsu has
revised its business forecast as follows for the fiscal year ending March 31,
2002. The earlier forecast was announced on November 9, 2001, when the
Company announced its interim business results. Please be advised that
Komatsu's consolidated financial statements are prepared in conformity with
accounting principles generally accepted in the United States of America.
1. Revised Consolidated Forecast for the Year
(Millions of yen)
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Net Sales Pre-tax Net
Income(Loss) Income(Loss)
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Previous Forecast (A) 1,060,000 (52,000) (45,000)
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Revised Forecast (B) 1,035,000 (107,000) (79,000)
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Amount of Change(B) - (A) (25,000) (55,000) (34,000)
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Rate of Change (%) -2.4 --- ---
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Actual Results for the Previous Year 1,096,369 20,064 6,913
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2. Revised Non-consolidated Forecast for the Year
(Millions of yen)
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Net Sales Ordinary Profit Net
Income(Loss)
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Previous Forecast (A) 410,000 11,000 (24,000)
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Revised Forecast (B) 385,000 3,000 (42,000)
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Amount of Change(B) - (A) (25,000) (8,000) (18,000)
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Rate of Change (%) -6.1 -72.7 ---
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Actual Results for the Previous Year 430,270 11,281 7,222
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3. Reasons for the Revision
Concerning Komatsu's construction and mining equipment business, the Japanese
market has been affected drastically by reduced construction investments,
including slack public outlays which compounded a recessionary mindset for
investment. In such an environment, demand for construction equipment has
been dropping sharply, and Komatsu anticipates earnings from the construction
and mining equipment business will decline from what was projected earlier.
For the Company's electronics business, the depressed market conditions
worldwide for semiconductors have given impact on Advanced Silicon Materials
LLC. (ASiMI), a manufacturing subsidiary of polycrystalline silicon in the
United States. As a result, ASiMI is expected to register lower business
results than projected earlier. To meet such conditions, Komatsu has
thoroughly reassessed ASiMI's production and developed the following
countermeasures. As to polycrystalline silicon for use in semiconductors, the
Butte Plant with the latest facilities in Montana will consolidate their
production. Moses Lake Plant in Washington, which accounts for about 40% of
ASiMI's current production capacity, will discontinue production for the time
being, and Komatsu will also study a possibility to convert production of
polycrystalline silicon for use in solar batteries through an alliance. To
this end, Komatsu plans to record an impairment loss of about (Yen)15.6
billion after revaluating concerned facilities.
Due to the sluggish stock market in Japan, at the end of the current
fiscal year, Komatsu plans to record an impairment loss of about (Yen)4
billion on those marketable securities of which fair value has remained lower
than book value for a given period of time.
In line with the reform of business structure announced in September last
year, Komatsu has been promoting a powerful drive for reduction of company-
wide capacity costs and substantial cutback in production costs. The Company
is determined to build an earnings structure which is more stable against
changes on the market and work for early recovery of business results.
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