Apr. 28, 2023
Komatsu Ltd. (President and CEO: Hiroyuki Ogawa) (hereafter “the Company”) does not disclose projections of non-consolidated business results. However, please be informed of the difference between non-consolidated business results for the fiscal year ended March 31, 2023 and those for the previous fiscal year as follows.
Please be also informed that the Board of Directors, in its meeting on April 28, 2023, resolved to propose at the 154th ordinary general shareholders’ meeting that the Company will change the latest projection of retained earnings with the record date of March 31, 2023 and pay dividends.
1. Difference between non-consolidated results for the fiscal year ended March 31, 2023 and those for the previous fiscal year (April 1, 2022 to March 31, 2023）
[Reasons for the difference]
Concerning non-consolidated business results, both sales and profits increased from the previous fiscal year, as demand for construction and mining equipment remained steady, centering on North America and Asia. Improved results also reflect the Japanese yen’s depreciation and increased dividends received from overseas subsidiaries.
2. Details of dividend
[Reason for the change of projected cash dividend]
Komatsu is building a sound financial position and enhancing its competitiveness in order to increase its sustainable corporate value. Concerning cash dividends, Komatsu has the policy of continuing stable payment of dividends after comprehensively considering consolidated business results and reviewing future investment plans, cash flows and the like. Specifically, Komatsu has the policy of maintaining a consolidated payout ratio of 40% or higher.
Concerning cash dividends for the fiscal year under review, after considering consolidated business results for the fiscal year under review and future business prospects under its dividend policy, the Company is planning to increase the year-end common stock dividend per share by JPY 11 from the earlier projection of JPY 64 per share. As a result, the year-end cash dividend for the fiscal year under review should amount to JPY 75 per share. Annual cash dividends should total JPY 139 per share, including the interim cash dividend which has already been paid, and which shows an increase of JPY 43 per share from the previous fiscal year, ended March 31, 2022. Accordingly, the consolidated payout ratio will translate into 40.3%. This dividend amount will be proposed to the 154th ordinary general meeting of shareholders (scheduled for June 21, 2023).
Regarding the fiscal year, ending March 31, 2024, while consolidated net income is projected to decrease, the Company plans to pay JPY 139 per share, keeping the same amount from the fiscal year under review. The consolidated payout ratio should be translated into 44.0%.
No : 0011(3234)
Corporate Communications Department
Sustainability Promotion Division
*The information may be subject to change without notice.