Komatsu Ltd. (President & CEO: Kunio Noji) has revised the projections for consolidated and non-consolidated business results for the fiscal year ending March 31, 2011, which the Company announced on April 27, 2010.
1. Projections for Consolidated Business Results for the Fiscal Year Ending March 31, 2011 (U.S. GAAP)
1) Interim period (From April 1, 2010 to September 30, 2010)
3. Reasons for the Revision
In the first half period, demand for construction and mining equipment has been growing more than projected in Asia and Latin America. Furthermore, demand in North America and Japan has been improving over the corresponding period a year ago. In this light, we have revised the projections of April 27, 2010 upward for both consolidated sales and profits for the first half period. In the second half, we are anticipating that we should be able to absorb any negative factors of the Japanese yen's appreciation by capitalizing on steady demand and improving productivity. In this regard, we are not revising the projections of April 27, 2010 for the second half period. As preconditions for our current projections, we are assuming the foreign exchange rates in and after the second quarter will be as follows: USD 1 = JYP 88, EUR 1 = JPY 110, and RMB 1 = JPY13.
Information in the news releases is current on the date of the announcement and is subject to change without notice.
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