Annual Report 2006 - Komatsu

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Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders Komatsu Ltd.: We have audited the accompanying consolidated balance sheets of Komatsu Ltd. and subsidiaries as of March 31, 2006 and 2005, and the related consolidated statements of income, shareholders’ equity and cash flows for each of the years in the three-year period ended March 31, 2006, expressed in Japanese yen. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Komatsu Ltd. and subsidiaries as of March 31, 2006 and 2005, and the results of their operations and their cash flows for each of the years in the three-year period ended March 31, 2006, in conformity with U.S. generally accepted accounting principles. The accompanying consolidated financial statements as of and for the year ended March 31, 2006 have been translated into United States dollars solely for the convenience of the reader. We have audited the translation and, in our opinion, the consolidated financial statements, expressed in yen, have been translated into dollars on the basis set forth in Note 1 to the consolidated financial statements. Tokyo, Japan June 5, 2006, except as to Note 24, which is as of June 14, 2006 88 Annual Report 2006
Directors, Auditors and Officers (As of June 23, 2006) Board of Directors Toshitaka Hagiwara Chairman of the Board Masahiro Sakane President and Chief Executive Officer Kunio Noji Director and Senior Executive Officer Supervising Construction & Mining Equipment Business, e-KOMATSU and KOMATSU Way Kunihiko Komiyama Director and Senior Executive Officer President, Development Division and President, Engines & Hydraulics Business Division Supervising R&D and Quality Assurance Operations Masahiro Yoneyama Director and Senior Executive Officer Assistant to President & CEO Representative of All China Operations Yoshinori Komamura Director and Senior Executive Officer President, Construction & Mining Equipment Marketing Division Supervising External Corporate and Legal Affairs Yasuo Suzuki Director and Senior Executive Officer General Manager, Corporate Planning Supervising Structural Reorganization, Environment, Electronics, Human Resources and Industrial Machinery Business Toshio Morikawa Director Advisor, Sumitomo Mitsui Banking Corporation Hajime Sasaki Director Chairman of the Board, NEC Corporation Morio Ikeda Director Chairman, Shiseido Company, Limited Statutory Auditors Makoto Nakamura Standing Auditor Masafumi Kanemoto Standing Auditor Masahiro Yoshiike Auditor Chairman, Taiyo Life Insurance Company Takaharu Dohi Auditor Makoto Okitsu Auditor Chairman of the Board, Teijin Limited Executive Officers Susumu Isoda Senior Executive Officer President, Production Division Shigeki Fujimori Senior Executive Officer President, Defense Systems Division Munenori Nakao Senior Executive Officer Supervising Compliance, CSR, General Affairs, Corporate Communications and Investor Relations Kenji Kinoshita Senior Executive Officer Chief Financial Officer Supervising Audit Mamoru Hironaka Executive Officer Vice President, Construction & Mining Equipment Marketing Division President, Product Support Division Masao Fuchigami Executive Officer President, Research Division Taizo Kayata Executive Officer President, Overseas Marketing, Construction & Mining Equipment Marketing Division Masaji Kitamura Executive Officer President, Construction & Mining Equipment Strategy Division Nobukazu Kotake Executive Officer Vice President, Development Division General Manager, Product Planning Yasuki Sato Executive Officer Mooka Plant Manager, Production Division Susumu Yamanaka Executive Officer President, Japanese Marketing, Construction & Mining Equipment Marketing Division Masakatsu Hioki Executive Officer General Manager, Human Resources Supervising Safety Koji Yamada Executive Officer President, Industrial Machinery Division Tetsuro Kajiya Executive Officer President, Procurement Division Nobuki Hasegawa Executive Officer General Manager, Construction Equipment Technical Center 2, Development Division Mikio Fujitsuka Executive Officer Deputy General Manager, Corporate Planning Ichiro Sasaki Executive Officer Osaka Plant Manager, Production Division Fujitoshi Takamura Executive Officer General Manager, Construction Equipment Technical Center 1, Development Division Yoshisada Takahashi Executive Officer Awazu Plant Manager, Production Division 89 Annual Report 2006
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Contents Annual Report 2006 Bringin
Page 3 and 4:
RECORD HIGHS Fourth Consecutive Yea
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Net Sales Income (loss) before Inco
Page 7 and 8:
Toshitaka Hagiwara, Chairman of the
Page 9 and 10:
Interview with Masahiro Sakane, Pre
Page 11 and 12:
have become on par with our foreign
Page 13 and 14:
Q : Please share your thoughts with
Page 15 and 16:
As it turned out that this 30-minut
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the basic remuneration. We have als
Page 19 and 20:
Back to the Future We have expanded
Page 21 and 22:
Brazil has sustained an economic gr
Page 23 and 24:
Leading Innovative IT Applications
Page 25 and 26:
Changzhou Training Center: Focusing
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consumers to learn about eco-friend
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Review of Operations Trends and Per
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ing selling prices, strengthening d
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Global Manufacturing Operation for
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Komatsu America: Showcasing new pro
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Working to Develop DANTOTSU Product
Page 39 and 40: Financial Section Financial Review
Page 41 and 42: FINANCIAL REVIEW record-high figure
Page 43 and 44: FINANCIAL REVIEW (5) Segment Profit
Page 45 and 46: FINANCIAL REVIEW (3) Capital Expend
Page 47 and 48: FINANCIAL REVIEW 5 Environmental la
Page 49 and 50: FINANCIAL REVIEW Interest Rate Risk
Page 51 and 52: TEN-YEAR SUMMARY Millions of yen (e
Page 53 and 54: CONSOLIDATED BALANCE SHEETS Thousan
Page 55 and 56: Consolidated Statements of Sharehol
Page 57 and 58: Notes to Consolidated Financial Sta
Page 59 and 60: NOTES TO CONSOLIDATED FINANCIAL STA
Page 89: NOTES TO CONSOLIDATED FINANCIAL STA
Page 93 and 94: KOMATSU GROUP INVESTMENT HOLDINGS S
Page 95: 2-3-6 Akasaka, Minato-ku Tokyo 107-
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Annual Report 2006 - Komatsu

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