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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 June, 2000
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 June 14, 2000.
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: June 21, 2000 By: /s/Masaru Fukase
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Masaru Fukase
Senior Executive
Officer
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News Release
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June 14th, 2000
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Komatsu Ltd.
2-3-6 Akasaka, Minato-ku,
Tokyo 107-8414, Japan
Public Relations Section
Tel: +81-(0)3-5561-2616
URL: http://www.komatsu.com/
NOTICE ON THE ACQUISITION OF KOMATSU FORKLIFT'S SHARES
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Komatsu Ltd. hereby announces that at its Board of Directors' meeting held on
June 14, 2000, it has resolved to acquire the shares of Komatsu Forklift Co.,
Ltd., and convert Komatsu Forklift to its subsidiary.
Notes
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1. Purposes of Share Acquisition
- In order to strengthen its ties with Komatsu Forklift Co., Ltd. (hereinafter
to be referred to as "Komatsu Lift"), Komatsu Ltd. (hereinafter to be
referred to as Komatsu) has decided to acquire Komatsu Lift's shares and
convert Komatsu Lift to its subsidiary in manners as described below:
- As already notified, in order to increase the competitiveness of the
forklift truck business, Komatsu and Komatsu Lift signed a basic agreement
with Linde AG of Germany regarding the establishment of a global cooperative
relationship in the manufacture and sales of forklift trucks and related
products.
- In order for the Komatsu Group to further accelerate the strengthening and
development of its forklift truck business, Komatsu will seek to convert
Komatsu Lift to its subsidiary as a step to consolidate and strengthen the
operating foundation of Komatsu Lift in pursue of improved earnings.
2. Outline of the Company (Komatsu Lift) Subject to the Change of Status
1) Corporate Name
Komatsu Forklift Co., Ltd.
2) Representative
Ichiro Mitsui
3) Location
2-3-4 Akasaka, Minato-ku, Tokyo
4) Date of Establishment
February, 1948
5) Lines of Business
Manufacture and sales of industrial vehicles, automated transfer equipment,
etc.
6) Settling Term
March
7) No. of Employees
706 (Non-consolidated. As of the end of March, 2000. Excluding loaned-out
employees and the like)
8) Major Establishments
Head Office (Minato-ku, Tokyo), Tochigi Plant (Oyama, Tochigi)
9) Capitalization
(Yen)11,411,834,062
10) Outstanding Common Shares
(Yen)124,045,676 shares
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11) Major Shareholders and Holding Ratios
Komatsu Ltd. 46.7%
Linde AG 10.0%
Taiyo Mutual Life Insurance Co., Ltd. 3.6%
HSBC Bank, PLC Clients, UK Tax Treaty 2.5%
Komatsu Forklift Employee Holding Association 2.3%
Komatsu Forklift Supplier Holding Association 1.6%
Sumitomo Fire and Marine Co., Ltd. 1.3%
12) Business Results in Recent Fiscal Years (millions of yen)
Non-consolidated
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March, 2000 March, 1999
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Net Sales (Yen)52,882 (Yen)53,816
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Operating Income 205 -5,243
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Ordinary Profit 262 -5,800
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Net Income 172 -3,530
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Total Assets 64,917 69,201
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Shareholders' Equity 42,254 42,081
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Dividends (Yen)0 (Yen)0
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Consolidated
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March, 2000 March, 1999
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Net Sales (Yen)88,349 (Yen)94,542
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Operating Income 1,436 -4,228
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Ordinary Profit 807 -6,099
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Net Income 268 -5,931
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Total Assets 103,050 110,438
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Shareholders' Equity 35,044 34,775
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3. No. of Shares to be Acquired and State of Pre- and post-Acquisition Holding
1) Pre-acquisition Holding 57,939,151 shares
(Holding ratio of 46.7%)
2) Scheduled Acquisition 5,078,000 shares
(Acquisition price not yet fixed)
3) Post-acquisition Holding 63,017,151 shares
(Scheduled) (Holding ratio of 50.8%)
4. Timetable
June 14, 2000 Resolution at the Board of Directors
June 20, 2000(Scheduled) Date of share certificates transfer
5. Outlook
Komatsu Lift is already accounted for in the forecast of business results of
Komatsu for the current fiscal year as the investment profit and loss
accounted for by equity method.
Thus, Komatsu foresees that the conversion of Komatsu Lift to its
subsidiary will result in a sales increase of approximately (Yen)90,000
million in its consolidated net sales totaling (Yen)1,140,000 million. With
regard to the net income of (Yen)15,000 million forecast for the current term,
the conversion will have no substantial effect.
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Note: The share acquisition was completed as scheduled on 20th June 2000.
