Slide 1: Business Results for FY2025
Business Results for FY2025 (April 1,2025 – March 31,2026) April 28, 2026 Komatsu Ltd. Participants Takuya Imayoshi President and Representative Director CEO Hiroshi Hosotani Executive Officer CFO Kiyoshi Hishinuma Executive Officer GM, Business Coordination Department
Slide 2: Contents
Contents Ⅰ. Business Results for FY2025 <PP3-14> PP4-5 : Highlights, Segment Sales and Profits for FY2025 PP6-9 : Construction, Mining & Utility Equipment: Results for FY2025 P10 : Retail Finance: Assets, New Contracts and Revenues for FY2025 P11 : Industrial Machinery & Others: Segment Sales and Pr
Slide 3: Ⅰ. Business Results for FY2025
Ⅰ. Business Results for FY2025 3
Slide 4: Highlights of Business Results for FY2025
Highlights of Business Results for FY2025 ・Net sales increased by 0.7% from FY2024 to JPY4,132.8 billion. ・Operating income decreased by 13.7% to JPY567.3 billion. Operating income ratio was 13.7%, down 2.3 points. Oct. to ・Net income attributable to Komatsu Ltd. decreased by 14.4% - Dec. 2024 billi
Slide 5: Segment Sales and Profits for FY2025
Segment Sales and Profits for FY2025 ・Construction, Mining & Utility Equipment: Sales increased by 0.2% from FY2024 to JPY3,806.0 billion. Segment profit decreased by 18.0% to JPY491.1 billion. ・Retail Finance: Sales increased by 2.4% from FY2024 to JPY126.1 billion. Segment profit increased by 24.4
Slide 6: Construction, Mining & Utility Equipment: Sales by Region for FY2025
Construction, Mining & Utility Equipment: Sales by Region (To Outside Customers) for FY2025 ・Sales to outside customers increased by 0.2% from FY2024 to JPY3,796.1 billion. ・Sales decreased in Asia and Japan, but increased in Latin America, Europe, and Africa. As a result, sales increased by 0.1% fr
Slide 7: Mining: Sales by Region for FY2025
Mining: Sales by Region (To Outside Customers) for FY2025 ・Sales to outside customers decreased by 0.6% from FY2024 to JPY1,904.4 billion. ・Sales decreased in Asia and North America, but increased in Latin America, Africa and Oceania. As a result, sales remained about flat from FY2024 in real terms,
Slide 8: Construction: Sales by Region FY2025
Construction: Sales by Region (To Outside Customers) FY2025 ・Sales to outside customers increased by 1.1% from FY2024 to JPY1,891.7 billion. Sales increased by 0.2% from FY2024 in real terms, excluding the impact of foreign exchange rates. ・Sales decreased in Asia and Japan but increased in North Am
Slide 9: Causes of Difference in Sales and Segment Profit for FY2025
Construction, Mining & Utility Equipment: Causes of Difference in Sales and Segment Profit for FY2025 ・Sales increased by JPY7.8 billion from FY2024 as the positive effects of improved selling prices outweighed the negative effects of decreased sales volume. ・Segment profit decreased by JPY107.8 bil
Slide 10: Retail Finance: Assets, New Contracts and Revenues for FY2025
Retail Finance: Assets, New Contracts and Revenues for FY2025 ・Assets increased by JPY238.3 billion from the previous fiscal year-end, due to an increase in new contracts and the impact of the Japanese yen’s depreciation. ・New contracts increased by JPY75.8 billion from FY2024 mainly due to increase
Slide 11: Industrial Machinery & Others: Segment Sales and Profit for FY2025
Industrial Machinery & Others: Segment Sales and Profit for FY2025 ・Sales increased by 6.8% from FY2024 to JPY238.8 billion. Segment profit increased by 38.5% to JPY37.9 billion. ・Both sales and segment profit increased, mainly due to increased sales of large press for the automotive industry and hi
Slide 12: Consolidated Balance Sheet and Free Cash Flows (FCF)
Consolidated Balance Sheet and Free Cash Flows (FCF) ・Total assets increased by JPY650.4 billion from the previous fiscal year-end to JPY6,423.9 billion mainly due to the impact of the Japanese yen’s depreciation . ・Inventories increased by JPY195.2 billion from the previous fiscal year-end, to JPY1
Slide 13: Progress in Strategic Growth Plan and Tasks Ahead in FY2026 and Onward
Progress in Strategic Growth Plan and Tasks Ahead in FY2026 and Onward 3 growth Category Key activities strategies Diesel trolley power agnostic truck underwent field testing at copper mine in Sweden. Began PoC test of a hydrogen fuel cell-powered hydraulic excavator. FY2025 Advanced the devel
Slide 14: Business Results and Progress towards Management Targets of the Strategic Growth Plan
Business Results and Progress towards Management Targets of the Strategic Growth Plan ・Sales for FY2025 increased by 0.7% due to improved selling prices. Operating profit declined due to the impact of additional U.S. tariffs. Progress toward management targets is generally on track. Sales 16.0% Oper
Slide 15: Ⅱ. Projection for FY2026 Business Results
Ⅱ. Projection for FY2026 Business Results 15
Slide 16: Impact Factored into the Projection for FY2026
Impact Factored into the Projection for FY2026 ・The assumptions incorporated into the projection for FY2026, and their impact are as follows. The Situation in the Middle East Sales (90.1) billions of yen, Increase in costs +18.8 billions of yen (loss) (Assumption) The impact of the situation in the
Slide 17: Outline of Projection for FY2026
Outline of Projection for FY2026 ・Net sales will decrease by 0.4% from FY2025 to JPY4,118.0 billion. ・Operating income will decrease by 10.5% to JPY508.0 billion. Operating income ratio will be 12.3%, down 1.4 points. ・Net income attributable to Komatsu Ltd. will decrease by 15.5% to JPY318.0 billio
Slide 18: Projection for Segment Sales and Profits for FY2026
Projection for Segment Sales and Profits for FY2026 ・Construction, Mining & Utility Equipment: Sales will decrease by 0.4% from FY2025 to JPY3,790.0 billion. Segment profit will decrease by 10.4% to JPY440.0 billion. ・Retail Finance: Sales will increase by 1.1% from FY2025 to JPY127.5 billion. Segme
Slide 19: Construction, Mining & Utility Equipment: Projection for Sales by Region for FY2026
Construction, Mining & Utility Equipment: Projection for Sales by Region (To Outside Customers) for FY2026 ・Sales to outside customers will decrease by 0.5% from FY2025 to JPY3,778.2 billion. Excluding the impact of foreign exchange rates, sales will decrease by 1.2%. Billions of yen 4,000 Billions
Slide 20: Mining: Projection for Sales by Region for FY2026
Mining: Projection for Sales by Region (To Outside Customers) for FY2026 ・Sales to outside customers will decrease by 2.4% from FY2025 to JPY1,858.5 billion. Excluding the impact of foreign exchange rates, sales decreased by 3.5%. ・Sales will decline in Asia and the Middle East due to sluggish deman
Slide 21: Construction: Projection for Sales by Region FY2026
Construction: Projection for Sales by Region (To Outside Customers) FY2026 ・Sales to outside customers will increase by 1.5% from FY2025 to JPY1,919.7 billion. Excluding the impact of foreign exchange rates, sales will increase by 1.1%. ・While sales will decrease in Middle East and Asia, overall sal
Slide 22: Causes of Difference in Projected Sales and Segment Profit for FY2026
Construction, Mining & Utility Equipment: Causes of Difference in Projected Sales and Segment Profit for FY2026 ・Sales will decrease by JPY16.0 billion from FY2025 as the negative effects of a decrease in sales volume caused by the situation in the Middle East will outweigh the positive effects of a
Slide 23: Retail Finance: Projection for Assets, New Contracts and Revenues for FY2026
Retail Finance: Projection for Assets, New Contracts and Revenues for FY2026 ・Assets will increase by JPY23.6 billion from the previous fiscal year-end, as new investments will exceed recoveries. ・New contracts will increase by JPY5.0 billion from FY2025 mainly due to a high finance penetration like
Slide 24: Industrial Machinery & Others: Projection for Segment Sales and Profit for FY2026
Industrial Machinery & Others: Projection for Segment Sales and Profit for FY2026 ・Sales will increase by 0.1% from FY2025 to JPY239.0 billion. Segment profit will decrease by 2.5% to JPY37.0 billion. ・For the semiconductor industry, sales will increase due to increased production by customer with m
Slide 25: Construction: Actual and Projected Demand for Major Products
Construction, Mining & Utility Equipment: Actual and Projected Demand for 7 Major Products ・In FY2025, global demand increased by 5% from FY2024. ・In FY2026, demand will decrease by between 0% and 5% from FY2025. Annual demand for 7 major products Quarterly demand for 7 major products N.America Euro
Slide 26: Construction, Demand in Major Markets (1) North America
Construction, Mining & Utility Equipment: Demand in Major Markets (1) North America ・In FY2025, demand increased by 3% from FY2024. Demand for infrastructure such as data centers, as well as for rental services and energy, remained strong. ・In FY2026, demand will remain about flat from FY2025. Deman
Slide 27: Construction, Demand in Major Markets (2) Europe
Construction, Mining & Utility Equipment: Demand in Major Markets (2) Europe ・In FY2025, demand increased by 4% from FY2024. ・In FY2026, demand will increase by between 0% and 5% from FY2025. We expect the economy to remain robust, driven by public investment in Germany and the United Kingdom. Quart
Slide 28: Construction, Demand in Major Markets (3) Asia
Construction, Mining & Utility Equipment: Demand in Major Markets (3) Asia ・In FY2025, demand increased by 5% from FY2024. While demand for mining declined in Indonesia, demand increased due to projects (*) Large-scale plantation such as the Food Estate Project(*). development project by ・In FY2026,
Slide 29: Construction, Demand in Major Markets (4) Japan
Construction, Mining & Utility Equipment: Demand in Major Markets (4) Japan ・In FY2025, demand decreased by 13% from FY2024. Demand for rental and regular customer remained sluggish. ・In FY2026, demand will remain about flat from FY2025. Construction Demand for new equipment (7 major products) and D
Slide 30: Price Trends and Projection for Major Minerals
Construction, Mining & Utility Equipment: Price Trends and Projection for Major Minerals ・Copper and Gold prices have remained at high levels in the long term. ・For iron ore and metallurgical coal, stable demand is expected, and prices are projected to remain stable. ・As for thermal coal, both low-g
Slide 31: Actual and Projected Demand for Mining Equipment
Construction, Mining & Utility Equipment: Actual and Projected Demand for Mining Equipment ・In FY2025, demand for mining equipment decreased by 10% from FY2024. ・In FY2026, demand will decrease by between 10% and 15% from FY2025. Annual demand for mining equipment Quarterly demand for mining equipme
Slide 32: Projection for Sales of Equipment, Parts and Service, etc.
Construction, Mining & Utility Equipment: Projection for Sales of Equipment, Parts and Service, etc. (To Outside Customers) ・ In FY2025, parts sales increased by 0.4% from FY2024 to JPY1,055.2 billion, accounting for 52% of the aftermarket business, including service, etc. ・ In FY2026, parts sales w
Slide 33: Projection for Capital Expenditures, Depreciation, R&D Expenses and Fixed Costs
Projection for Capital Expenditures, Depreciation, R&D Expenses and Fixed Costs ・CAPEX will increase from FY2025, mainly due to investments in production and sales bases, as well as the impact of the construction of the new headquarters. ・R&D expenses will increase from FY2025, due to focused invest
Slide 34: Appendix
Appendix KOMATSU 34
Slide 35: Highlights for the Fourth Quarter of FY2025
<Appendix> Highlights for the Fourth Quarter (Jan. – Mar. 2026) of FY2025 ・Net sales increased by 6.1% year on year to JPY1,217.3 billion. ・Operating income decreased by 22.4% to JPY148.3 billion. Operating income ratio was 12.2%, down 4.5 points. ・Net income attributable to Komatsu Ltd. decreased b
Slide 36: Segment Sales and Profits for the Fourth Quarter of FY2025
<Appendix> Segment Sales and Profits for the Fourth Quarter (Jan. – Mar. 2026) of FY2025 ・Construction, Mining & Utility Equipment: Sales increased by 6.5% year on year to JPY1,118.0 billion. Segment profit decreased by 26.1% to JPY128.5 billion. ・Retail Finance: Sales increased by 6.0% year on year
Slide 37: Sales by Region for the Fourth Quarter
<Appendix> Construction, Mining & Utility Equipment: Sales by Region (To Outside Customers) for the Fourth Quarter (Jan. - Mar. 2026) of FY2025 ・Sales to outside customers increased by 6.6% year on year to JPY1,115.6 billion. Billions of yen Plus Billions of yen Minus 1,200 1,115.6 +13.0 +17.0 Excl.
Slide 38: Mining: Sales by Region for the Fourth Quarter
<Appendix> Mining: Sales by Region (To Outside Customers) for the Fourth Quarter (Jan. - Mar. 2026) of FY2025 ・Sales to outside customers increased by 5.9% year on year to JPY556.8 billion. Billions of yen Plus Excl. foreign Billions of yen exchange effects 600 Minus +10.1 556.8 +11.4 [+1.9 %] 525.6
Slide 39: Construction: Sales by Region for the Fourth Quarter
<Appendix> Construction: Sales by Region (To Outside Customers) for the Fourth Quarter (Jan. - Mar. 2026) of FY2025 ・Sales to outside customers increased by 7.2% year on year to JPY558.8 billion. Billions of yen Plus Billions of yen Minus 600 558.8 Excl. foreign exchange effects 521.3 +10.4 Japan [+
Slide 40: Quarterly Sales and Operating Income
<Appendix> Quarterly Sales and Operating Income Industrial Machinery & Others Retail Finance Quarterly Sales Billions of yen Construction, Mining & Utility Equipment Elimination 1,147.1 1,217.3 1,200 1,070.1 1,023.9 76 1,004.2 972.0 959.8 1,008.2 989.2 76.9 982.1 33.1 920.5 899.6 923.4 64.1 909.5 55
Slide 41: Quarterly Sales and Segment Profit
<Appendix> Construction, Mining & Utility Equipment: Quarterly Sales and Segment Profit Quarterly Sales Billions of yen 1,000 800 600 1,049.9 1,118.0 926.9 918.2 989.4 935.9 918.2 945.8 863.4 846.9 860.7 894.3 844.9 897.3 400 790.9 715.3 200 0 FY22/1Q 2Q 3Q 4Q FY23/1Q 2Q 3Q 4Q FY24/1Q 2Q 3Q 4Q FY25/
Slide 42: Quarterly Sales by Region
<Appendix> Construction, Mining & Utility Equipment: Quarterly Sales by Region (To Outside Customers) Billions of yen 1,200 1,115.6 Japan 1,100 1,046.9 92.0 CIS 983.8 18.6 1,000 923.5 933.2 91.2 943.2 20.2 916.1 13.5 895.0 China 904.7 94.4 891.3 93.3 860.7 860.6 19.3 900 842.2 80.8 80.9 95.1 19.2 87
Slide 43: Retail Finance: Quarterly Sales and Segment Profit
<Appendix> Retail Finance: Quarterly Sales and Segment Profit Billions of yen Quarterly Sales 35 30 25 20 31.3 31.2 32.1 33.1 15 28.9 30.5 30.2 30.4 30.5 27.2 22.9 24.6 10 19.9 21.6 22.1 22.1 5 0 FY22/1Q 2Q 3Q 4Q FY23/1Q 2Q 3Q 4Q FY24/1Q 2Q 3Q 4Q FY25/1Q 2Q 3Q 4Q Exchange rates 22/1Q 22/2Q 22/3Q 22/
Slide 44: Industrial Machinery & Others: Quarterly Sales and Segment Profit
<Appendix> Industrial Machinery & Others: Quarterly Sales and Segment Profit Billions of yen Quarterly Sales 80 60 40 76.9 76.0 64.1 64.1 63.5 51.2 55.8 49.2 46.5 45.5 49.9 20 43.1 40.5 44.6 43.5 34.5 0 FY22/1Q 2Q 3Q 4Q FY23/1Q 2Q 3Q 4Q FY24/1Q 2Q 3Q 4Q FY25/1Q 2Q 3Q 4Q Exchange rates 22/1Q 22/2Q 22
Slide 45: Actual and Projected Demand and Sales for Mining
<Appendix> Construction, Mining & Utility Equipment: Actual and Projected Demand and Sales for Mining Annual demand for mining equipment Annual sales of Mining (incl. parts and service) N. America Latin America N. America Latin America Europe, Africa and Middle East Oceania Europe, Africa and Middle
Slide 46: Mining: Projection for Sales of Equipment, Parts and Service, etc.
<Appendix> Mining: Projection for Sales of Equipment, Parts and Service, etc. (To Outside Customers) *Aftermarket(AM)=Parts + Service, etc. Annual sales Quarterly sales Aftermarket Aftermarket Billion of yen ratio Billions of yen ratio 700 2,500 100% 70% 70% 68% 65% 69% 69% 68% 67% 65% 65% 66% 69% 7
Slide 47: Construction: Projection for Sales of Equipment, Parts and Service, etc.
<Appendix> Construction: Projection for Sales of Equipment, Parts and Service, etc. (To Outside Customers) *Aftermarket(AM)=Parts + Service, etc. Annual sales Quarterly sales Billions of yen Aftermarket Aftermarket ratio Billions of yen ratio 2,500 100% 100% 800 38% 41% 40% 39% 39% 39% 38% 38% 36% 3
Slide 48: Komtrax: Average Operating Hours per Month
<Appendix> Komtrax: Average Operating Hours per Month Japan Europe Y-o-Y Y-o-Y Hours Hours growth rate Operating hours Y-o-Y change(%) growth rate 250 Operating hours Y-o-Y Change(%) 250 9% 12% 15% 13% 11% 7% 15% 200 3% 1% 200 6% 6% 7% 5% 4% 1% 1% 2% 1% 3% 3% 1% 1% 0% 0% 0% 150 -1% 150 -1% -1% -1% -
Slide 49: Book-to-Bill Ratio for Mining Equipment (6 Months)
<Appendix> Book-to-Bill Ratio for Mining Equipment (6 Months) Avg. orders in value for 6 months / Avg. factory shipment in value for 6 months) 300% Komatsu America (Mining equip.) 250% 200% 730E, 830E, 860E 930E, 960E, 980E 150% 100% 50% Orders received / Sales index 0% 250% KMC (Mining equip.) 200%
Slide 50: Book-to-Bill Ratio for Mining Equipment (6 Months)
<Appendix> Book-to-Bill Ratio for Mining Equipment (6 Months) Avg. orders in value for 6 months / Avg. factory shipment in value for 6 months) 400% Komatsu Germany Orders received / Sales index 350% (Mining equip.) 300% PC3000, PC4000 250% PC5500, PC7000 200% PC8000, PC9000 150% 100% 50% 0% -50% -10
Slide 51: Komatsu has acquired remanufacturing business of SRC of Lexington, Inc.
Komatsu has acquired remanufacturing business of SRC of Lexington, Inc. in the United States Komatsu Ltd. has acquired the remanufacturing business assets of SRC of Lexington, Inc. through its wholly owned subsidiary, Komatsu America Corp. 51
Slide 52: On-site PoC test of a hydrogen fuel cell-powered hydraulic excavator
On-site PoC test of a hydrogen fuel cell-powered hydraulic excavator at a construction site Obayashi Corporation, Iwatani Corporation and Komatsu Ltd. jointly conducted on-site proof-of-concept (PoC) test using a medium-sized hydraulic excavator equipped with a hydrogen fuel cell system (hereafter
Slide 53: Komatsu demonstrates how connected performance drives results at CONEXPO-CON/AGG 2026
Komatsu demonstrates how connected performance drives results at CONEXPO-CON/AGG 2026 Komatsu exhibited at CONEXPO-CON/AGG 2026, an international construction machinery trade show held in Las Vegas, USA. 【Digital Solutions】 【Next-generation dozer D175AX-10】 【Next-generation excavator PC158USLCi-12
Slide 54: Expanding value creation across the circular forestry process
- Expanding value creation across the circular forestry process - Komatsu has acquired Malwa Forest AB, a Swedish Manufacturer of Lightweight and Compact Forestry Machinery Komatsu Ltd. has acquired Malwa Forest AB, a manufacturer of forestry machinery, through its wholly-owned subsidiary, Komatsu
Slide 55: Komatsu becomes first OEM to commission 1,000 ultra-class autonomous haul trucks
Komatsu becomes first OEM to commission 1,000 ultra-class autonomous haul trucks Komatsu has reached a historic milestone in autonomous mining, commissioning its 1,000th autonomous ultra-class haul truck equipped with the Autonomous Haulage System. A 930E-5AT AHS haul truck in operation at Nevada
Slide 56: IR Reference Information Links
IR Reference Information Links Investor relations https://www.komatsu.jp/en/ir Strategic Growth Plan https://www.komatsu.jp/en/newsroom/2025/20250428_2 Komatsu Report (Integrated Report) https://www.komatsu.jp/en/ir/library/annual IR-Day https://www.komatsu.jp/en/ir/library/results/2025 Cautionary S