UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934

KOMATSU LTD.

3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan

Address of principal executive office

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-                    

 

 

INFORMATION TO BE INCLUDED IN REPORT

1. A company announcement made on January 28, 2010.

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.
		Corporate Communications Dept.
		Tel: +81-(0)3-5561-2616
		Date: January 28, 2010
		URL: http://www.komatsu.com/

Consolidated Business Results for the Nine Months of the Fiscal Year Ending
March 31, 2010 (U.S. GAAP)

1.		Results for the Nine Months Ended December 31, 2009
(Amounts are rounded to the nearest million yen.)

(1) Consolidated Financial Highlights

Millions of yen except per share amounts

		Nine months				Nine months
		ended December				ended December				Changes
		31, 2009 (A)				31, 2008 (B)				(A)-(B)
Net sales			1,003,927				1,642,689				(638,762	)			(38.9	)%
Operating income			36,097				200,171				(164,074	)			(82.0	)%
Income before income taxes and equity in earnings of affiliated companies			34,688				178,104				(143,416	)			(80.5	)%
Net income attributable to Komatsu Ltd.			18,355				113,321				(94,966	)			(83.8	)%
Net income attributable to Komatsu Ltd. per share (Yen)
Basic		¥	18.96			¥	114.30			¥	(95.34	)
Diluted		¥	18.95			¥	114.21			¥	(95.26	)

(2) Consolidated Financial Position

Millions of yen except per share amounts

		As of December 31, 2009				As of March 31, 2009
Total assets			1,947,020				1,969,059
Komatsu Ltd. shareholders’ equity			810,871				814,941
Komatsu Ltd. shareholders’ equity ratio			41.6	%			41.4	%
Komatsu Ltd. shareholders’ equity per share (Yen)		¥	837.64			¥	842.04

2.

Dividends

(For the fiscal years ended March 31, 2009 and ending March 31, 2010)		Yen

		The entire FY ending March 31, 2010								The entire FY ended
		Results				Projection				March 31, 2009
First quarter period
Second quarter period			8.0				—				22.0
Third quarter period
Year-end			—				8.0				18.0
Total							16.0				40.0

3.		Projections for the Fiscal Year Ending March 31, 2010
(From April 1, 2009 to March 31, 2010)

Millions of yen except per share amounts

		The entire fiscal year
						Changes
Net sales			1,430,000				(29.3	)%
Operating income			72,000				(52.6	)%
Income before income taxes and equity in earnings of affiliated companies			62,000				(51.9	)%
Net income attributable to Komatsu Ltd.			35,000				(55.6	)%
Net income attributable to Komatsu Ltd. per share (basic) (Yen)		¥	36.16

4.

Others

(1)

Changes in important subsidiaries during the nine months ended December 31, 2009: None

(2)

Use of simplified accounting procedures and of specific accounting procedures for the preparation of consolidated quarterly financial statements: None

(3)

Changes in accounting standards, procedures and presentations for the preparation of consolidated quarterly financial statements

1)

Changes resulting from revisions in accounting standards, etc.: Applicable

2)

Changes in other matters except for 1) above: None

Note: See “4. Others” of “Management Performance and Financial Conditions” on page 8 for more details.

(4)

Number of common shares outstanding

	1)		The numbers of common shares issued (including treasury stock) were as follows:
			As of December 31, 2009: 998,744,060 shares
			As of March 31, 2009:       998,744,060 shares

	2)		The numbers of shares of treasury were as follows:
			As of December 31, 2009: 30,696,468 shares
			As of March 31, 2009:       30,921,768 shares

	3)		The weighted average numbers of common shares outstanding were as follows:
			Nine months ended December 31, 2009: 968,000,628 shares
			Nine months ended December 31, 2008: 991,427,410 shares

[Reference]
Results for the Three Months Ended December 31, 2009

Millions of yen except per share amounts

		Three months				Three months
		ended December				ended December				Changes
		31, 2009 (A)				31, 2008 (B)				(A)-(B)
Net sales			357,964				431,401				(73,437	)			(17.0	)%
Operating income			16,312				40,517				(24,205	)			(59.7	)%
Income before income taxes and equity in earnings of affiliated companies			16,236				21,376				(5,140	)			(24.0	)%
Net income attributable to Komatsu Ltd.			10,157				12,980				(2,823	)			(21.7	)%
Net income attributable to Komatsu Ltd. per share (Yen)
Basic		¥	10.49			¥	13.19			¥	(2.70	)
Diluted		¥	10.49			¥	13.19			¥	(2.70	)

Management Performance and Financial Conditions

1. Outline of Operations and Business Results

During the nine months from April 1 to December 31, 2009 of the fiscal year ending March 31, 2010, some economies of the world generated signs of recovery supported by positive effects of the economic stimulus packages of their respective governments. However, overall world economies remained far below the level of the pre-financial meltdown of 2008.

Under such a challenging business environment, Komatsu Ltd. and its subsidiaries (hereinafter “Komatsu”) engaged in production adjustment around the world in order to cut down inventories to an appropriate level and reorganized production of both businesses of the Construction, Mining and Utility Equipment and the Industrial Machinery and Others, while realigning sales of construction equipment and forklift trucks in Japan. Komatsu also worked to substantially cut down fixed costs. To ensure sales and profits, Komatsu expanded production capacity for hybrid hydraulic excavators and their sales, reinforced IT-deployed businesses such as the KOMTRAX (Komatsu Machine Tracking System), strengthened operations in China and mining equipment, in which business was expanding, and worked to strengthen the parts and service business. As a result, Komatsu firmly recovered profitability in the third quarter (October — December 2009), improving both sales and profits over the first (April — June 2009) and second quarters (July — September 2009). When compared to the previous nine-month period (April — December 2008), however, consolidated net sales for the nine months (April — December 2009) declined 38.9% to JPY1,003.9 billion (USD10,795 million, at USD1=JPY93), as global demand, excluding that in China, did not come back to the level of the pre-financial meltdown. An additional contributing factor was the Japanese yen’s appreciation against major currencies. With respect to profits for the nine months compared to the nine-month period a year ago, operating income decreased 82.0% to JPY36.0 billion (USD388 million). Income before income taxes and equity in earnings of affiliated companies amounted to JPY34.6 billion (USD373 million), down 80.5%. Net income attributable to Komatsu Ltd. declined 83.8% to JPY18.3 billion (USD197 million).

Millions of yen

		Nine months ended				Nine months ended
		December 31, 2009				December 31, 2008
		(A)				(B)
		USD1=JPY93				USD1=JPY102				Changes
		EUR1=JPY133				EUR1=JPY150				(A-B)/(B)
Net sales			1,003,927				1,642,689				(38.9	)%
Operating income			36,097				200,171				(82.0	)%
Income before income taxes and equity in earnings of affiliated companies			34,688				178,104				(80.5	)%
Net income attributable to Komatsu Ltd.			18,355				113,321				(83.8	)%

[Reference]
Consolidated Financial Results for the Nine Months Ended December 31, 2009 by Quarter

Millions of yen

		1st. quarter				2nd. quarter				3rd. quarter
		(Apr. – Jun., 2009)				(Jul. – Sep., 2009)				(Oct. – Dec., 2009)
		(A)				(B)				(C)
		USD1=JPY97				USD1=JPY93				USD1=JPY90				Changes
		EUR1=JPY133				EUR1=JPY133				EUR1=JPY133				(C-B)/(B)
Net sales			320,428				325,535				357,964				10.0	%
Operating income			8,273				11,512				16,312				41.7	%
Income before income taxes and equity in earnings of affiliated companies			8,728				9,724				16,236				67.0	%
Net income attributable to Komatsu Ltd.			4,763				3,435				10,157				195.7	%

Business results by operation are described below.

Construction, Mining and Utility Equipment

In addition to China, with full-scale recovery in demand, in some emerging economies, such as Indonesia, India and Brazil, demand headed for gradual recovery. Meanwhile, demand remained slack in Japan, North America, Europe and other regions, reducing global demand to a level lower than that in the corresponding nine-month period a year ago. While global demand dropped, Komatsu reduced production in order to attain an appropriate level of inventories, including those of distributors, and the Japanese yen appreciated against major currencies. Adversely affected by these factors, consolidated net sales of construction, mining and utility equipment declined 37.9% from the corresponding nine-month period a year ago, to JPY886.4 billion (USD9,532 million).

Komatsu engaged in bold adjustment of production up through the second quarter, powerfully promoting inventory reduction, and thus, Komatsu regained the production volume, which corresponds to the present level of market demand.

[Sales of Construction, Mining and Utility Equipment by Region]		Millions of yen

		Nine months ended				Nine months ended
		December 31, 2009				December 31, 2008				Changes
		(A)				(B)				(A-B)/(B)
Japan			167,165				245,793				(32.0	)%
Americas			219,547				373,080				(41.2	)%
Europe & CIS			89,015				239,920				(62.9	)%
China			160,066				125,558				27.5	%
Asia & Oceania			190,871				259,550				(26.5	)%
Middle East & Africa			59,823				184,748				(67.6	)%
Total			886,487				1,428,649				(37.9	)%

Japan

While public-sector investment was firm, as supported by the effects of a supplementary budget executed by the former cabinet, private-sector capital investment and residential investment remained slack. As a result, overall demand sharply receded from the corresponding nine-month period a year ago, and sales also declined. Komatsu concerted efforts to enhance the efficiency of production and sales operations, while working to expand sales of hybrid hydraulic excavators which offer outstanding reduction of fuel consumption and CO₂ emissions. Komatsu also expanded the production capacity for electric motors and other key components for hybrid hydraulic excavators at its Shonan Plant in Hiratsuka City, Kanagawa Prefecture.

Americas

In North America, the operating rate of construction equipment showed signs of bottoming out, but fell short of increasing market demand against the backdrop of uncertainty over prolonged economic recovery. As a result, the business environment remained challenging. In Latin America, while demand in the civil engineering sector dropped, reflecting sluggish economies, demand in the mining sector was relatively firm. Under such an environment, Komatsu advanced reorganization of production and sales operations, while reinforcing sales and product support efforts of mining equipment. Affected by sluggish market conditions, as well as production adjustment to attain an appropriate level of distributors’ inventories, sales in the Americas declined from the corresponding nine-month period a year ago. Following Japan and China, Komatsu decided to launch hybrid hydraulic excavators in North America and embarked on their test marketing in the third quarter.

Europe & CIS

A sharp drop in demand continued into the nine months under review, reflecting sluggish economies in Europe and CIS. Sales in Europe & CIS plunged sharply from the corresponding nine-month period a year ago, as Komatsu focused efforts on adjusting production in order to reduce distributors’ inventories to an appropriate level against the backdrop of dropping demand in both regions, and narrow down the models of local production in Europe.

China

The Chinese government’s economic stimulus measures advanced large-scale infrastructure developments, such as railways and highways, and upturned year-on-year monthly demand in June last year. Since then, market demand has remained strong. By capitalizing on this market recovery, Komatsu increased sales from the corresponding nine-month period a year ago. As a result, sales in China increased to account for 18.1% of total sales of the construction, mining and utility equipment business. In China, Komatsu aggressively launched hybrid hydraulic excavators and other new models. Furthermore, Komatsu (Changzhou) Construction Machinery Corp. is relocating its head office and is building a new plant and the KC Techno Center, designed to train service engineers and to reinforce its machine demonstration capability for customers. As shown by these moves, Komatsu has continued to strengthen its efforts in a promising market.

Asia & Oceania

In Indonesia, demand began to recover at the start of 2009, and demand upturned in India in the third quarter, centering on mining equipment. Also, in Australia, demand for mining-related equipment remained firm. Nine-month sales in Asia & Oceania, however, declined from the corresponding nine-month period a year ago, as demand did not recover to the level of the pre-financial meltdown of 2008 in both regions and Komatsu slowed down production to promote an appropriate level of distributors’ inventories. In both regions, Komatsu further reinforced its operations, for example, by promoting global Reman (remanufacturing) operations in Indonesia and starting to reorganize its distributors in Thailand and Australia.

Middle East & Africa

Although commodity prices upturned for an increase from the drastic plunge two years ago, market demand remained far behind recovery in the Middle East and Africa, as affected by recessionary economies. Affected also by efforts to reduce distributors’ inventories, sales in both regions declined from the corresponding nine-month period a year ago. To prepare for future recovery of demand in new mines and infrastructure development, Komatsu worked to strengthen its product support capability. For example, it opened a new training center in Dakar, Senegal and a new product support center in Tanzania.

Industrial Machinery and Others

As the automobile and other client industries continued the restraint of making capital investment, resulting in a sharp drop in new orders received, consolidated net sales of industrial machinery and other operations for the nine months under review declined 45.1% from the corresponding nine-month period a year ago, to JPY117.4 billion (USD1,263 million).

With the business environment remaining challenging, Komatsu continued its structural reform efforts, including the reorganization of production, centering on production transfer from the Komatsu Plant to the Kanazawa Plant. By anticipating growth of the solar cell market, Komatsu also worked to broaden a line-up of its wire saws while enhancing its technological capability. In order to further streamline the press business, develop new markets and expand business in China and other emerging economies, Komatsu embarked on the integration of development, as well as sales and service operations of the large press business, into Komatsu Industries Corp. in the third quarter. Komatsu also commenced sales of small and medium-sized presses equipped with the KOMTRAX as a standard feature. KOMTRAX is a Komatsu-original system that monitors operating conditions of construction equipment, which has been well received on the market.

2. Financial Conditions

As of December 31, 2009, total assets had decreased by JPY22.0 billion from the previous fiscal year-end, to JPY1,947.0 billion (USD20,936 million), largely due to a decrease in inventories resulting from our proactive efforts to reduce them to an appropriate level. Interest-bearing debt increased by JPY38.8 billion from the previous fiscal year-end, to JPY638.7 billion (USD6,868 million). This increase is mainly attributable to the inclusion of a retail finance company in Australia as a consolidated subsidiary. Komatsu Ltd. shareholders’ equity amounted to JPY810.8 billion (USD8,719 million), a decline of JPY4.0 billion from the previous fiscal year-end. As a result, Komatsu Ltd. shareholders’ equity ratio increased by 0.2 percentage points from the previous fiscal year-end, to 41.6%. Net debt-to-equity ratio* was 0.67, compared to 0.62 as of the previous fiscal year-end.

For the nine months under review, net cash provided by operating activities amounted to JPY115.3 billion (USD1,240 million), an increased of JPY68.2 billion from the corresponding period a year ago, mainly due to a decrease in working capital. Net cash used in investing activities declined by JPY63.9 billion from the corresponding period a year ago, to JPY50.5 billion (USD544 million), mainly due to restrained investments in Japan and overseas. Net cash used in financing activities totaled JPY60.5 billion (USD651 million), an increase of JPY129.9 billion from the corresponding period a year ago. As a result, cash and cash equivalents, as of December 31, 2009, increased by JPY2.9 billion from the previous fiscal year-end, to JPY93.4 billion (USD1,005 million).

3. Projections for the Fiscal Year Ending March 31, 2010

(From April 1, 2009 to March 31, 2010)

As of the date of this news release, there is no change in the projections of October 29, 2009 concerning consolidated business results for the fiscal year ending March 31, 2010. In the construction, mining and utility equipment business, we are anticipating that demand will remain strong in China and continue recovering in emerging economies, such as Indonesia, India and Brazil. We cannot expect any rapid recovery of demand in Japan, North America, Europe or other regions. All combined, overall demand will decline from the previous fiscal year. In the industrial machinery and others business, we are projecting a very challenging environment, as we cannot expect full-scale investment by the automobile manufacturing industry, our main client. Under such a business environment, we are resolutely determined to improve profits by not only strengthening our efforts in Greater Asia, including the full-scale market introduction of hybrid hydraulic excavators in China, but also by working to further reduce our fixed and production costs.

4. Others

(1)

Changes in important subsidiaries during the nine months ended December 31, 2009: None

(2)

Use of simplified accounting procedures and of specific accounting procedures for the preparation of consolidated quarterly financial statements: None

(3)

Changes in accounting standards, procedures and presentations for the preparation of consolidated quarterly financial statements

1)

Changes resulting from revisions in accounting standards, etc.: Applicable

Komatsu adopted the FASB Accounting Standards Codification ^TM (ASC) 105, “Generally Accepted Accounting Principles” (Formerly SFAS No. 168, “The FASB Accounting Standards Codification ^TM and the Hierarchy of Generally Accepted Accounting Principles — a replacement of FASB Statement No. 162”) in September 2009. ASC 105 prescribes that FASB Accounting Standard Codification ™ (Codification) is the single source of authoritative U.S. generally accepted accounting principle, doing away with the previous four-level hierarchy.

The financial statements that adopted ASC 105 should follow the Codification in place of legacy accounting pronouncements. SFAS No. 168 is superseded by ASC 105. The adoption of ASC 105 did not have a material impact on our consolidated results of operations and financial condition.

Specific standard number of FASB statement is referred in ( ) hereinafter.

Starting in the fiscal year which began April 1, 2009, Komatsu adopted ASC 805, “Business Combinations” (Formerly SFAS No. 141R, “Business Combinations”). ASC 805 establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any noncontrolling interest in the acquiree and the goodwill acquired or gain from a bargain purchase. ASC 805 also establishes disclosure requirements to enable the evaluation of the nature and financial effects of the business combination. The adoption of ASC 805 did not have a material impact on our consolidated result of operations and financial condition.

Staring in the fiscal year which began April 1, 2009, Komatsu adopted ASC 810, “Consolidation” (Formerly SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements — an amendment of ARB No. 51”). ASC 810 establishes accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. ASC 810 also establishes disclosure requirements that clearly identify and distinguish between the controlling and noncontrolling interests, and requires the separate disclosure of income attributable to controlling and noncontrolling interests. Previously reported amounts have been reclassified accordingly.

2)

Change in other matters except for 1) above: None

Cautionary Statement

The announcement set forth herein contains forward-looking statements which reflect management’s current views with respect to certain future events, including expected financial position, operating results, and business strategies. These statements can be identified by the use of terms such as “will,” “believes,” “should,” “projects” and similar terms and expressions that identify future events or expectations. Actual results may differ materially from those projected, and the events and results of such forward-looking assumptions cannot be assured.

Factors that may cause actual results to differ materially from those predicted by such forward-looking statements include, but are not limited to, unanticipated changes in demand for the Company’s principal products, owing to changes in the economic conditions in the Company’s principal markets; changes in exchange rates or the impact of increased competition; unanticipated cost or delays encountered in achieving the Company’s objectives with respect to globalized product sourcing and new Information Technology tools; uncertainties as to the results of the Company’s research and development efforts and its ability to access and protect certain intellectual property rights; and, the impact of regulatory changes and accounting principles and practices.

Financial statement

(1) Condensed Consolidated Balance Sheets

Assets

Millions of yen

		As of December 31, 2009								As of March 31, 2009
						Ratio (%)								Ratio (%)
Current assets
Cash and cash equivalents		¥	93,491							¥	90,563
Time deposits			1,027								44
Trade notes and accounts receivable			403,998								373,901
Inventories			424,802								507,357
Deferred income taxes and other current assets			104,942								131,374
Total current assets			1,028,260				52.8				1,103,239				56.0
Long-term trade receivables			148,797				7.7				102,969				5.2
Investments
Investments in and advances to affiliated companies			22,484								19,249
Investment securities			56,097								53,854
Other			2,695								12,017
Total investments			81,276				4.2				85,120				4.3
Property, plant and equipment
- Less accumulated depreciation			527,649				27.1				525,462				26.7
Goodwill			29,656				1.5				28,661				1.5
Other intangible assets			61,111				3.1				60,346				3.1
Deferred income taxes and other assets			70,271				3.6				63,262				3.2
Total		¥	1,947,020				100.0			¥	1,969,059				100.0

Liabilities and Equity

Millions of yen

		As of December 31, 2009								As of March 31, 2009
						Ratio (%)								Ratio (%)
Current liabilities
Short-term debt		¥	189,802							¥	220,087
Current maturities of long-term debt			86,249								87,662
Trade notes, bills and accounts payable			182,945								214,375
Income taxes payable			8,156								10,818
Deferred income taxes and other current liabilities			179,514								199,345
Total current liabilities			646,666				33.2				732,287				37.2
Long-term liabilities
Long-term debt			362,653								292,106
Liability for pension and retirement benefits			49,432								53,822
Deferred income taxes and other liabilities			37,066								42,510
Total long-term liabilities			449,151				23.1				388,438				19.7
Total liabilities			1,095,817				56.3				1,120,725				56.9
Komatsu Ltd. shareholders’ equity
Common stock			67,870								67,870
Capital surplus			140,421								140,092
Retained earnings:
Appropriated for legal reserve			31,160								28,472
Unappropriated			709,709								719,222
Accumulated other comprehensive income (loss)			(103,552	)							(105,744	)
Treasury stock			(34,737	)							(34,971	)
Total Komatsu Ltd. shareholders’ equity			810,871				41.6				814,941				41.4
Noncontrolling interests			40,332				2.1				33,393				1.7
Total equity			851,203				43.7				848,334				43.1
Total		¥	1,947,020				100.0			¥	1,969,059				100.0

(2) Condensed Consolidated Statements of Income

Nine months ended December 31, 2009 and 2008

Millions of yen except per share amounts

		Nine months ended								Nine months ended
		December 31, 2009								December 31, 2008
						Ratio								Ratio
						(%)								(%)
Net sales		¥	1,003,927				100.0			¥	1,642,689				100.0
Cost of sales			780,516				77.7				1,199,279				73.0
Selling, general and administrative expenses			181,204				18.0				242,444				14.8
Other operating income (expenses), net			(6,110	)			(0.6	)			(795	)			(0.0	)
Operating income			36,097				3.6				200,171				12.2
Other income (expenses), net			(1,409	)							(22,067	)
Interest and dividend income			5,215				0.5				6,696				0.4
Interest expense			(7,276	)			(0.7	)			(11,273	)			(0.7	)
Other, net			652				0.1				(17,490	)			(1.1	)
Income before income taxes and equity in earnings of affiliated companies			34,688				3.5				178,104				10.8
Income taxes			11,839				1.2				60,470				3.7
Income before equity in earnings of affiliated companies			22,849				2.3				117,634				7.2
Equity in earnings of affiliated companies			556				0.1				829				0.1
Net income			23,405				2.3				118,463				7.2
Less net income attributable to noncontrolling interests			(5,050	)			(0.5	)			(5,142	)			(0.3	)
Net income attributable to Komatsu Ltd.		¥	18,355				1.8			¥	113,321				6.9
Net income attributable to Komatsu Ltd. per share (Yen)
Basic			18.96								114.30
Diluted			18.95								114.21

Three months ended December 31, 2009 and 2008

Millions of yen except per share amounts

		Three months ended								Three months ended
		December 31, 2009								December 31, 2008
						Ratio								Ratio
						(%)								(%)
Net sales		¥	357,964				100.0			¥	431,401				100.0
Cost of sales			275,434				76.9				313,604				72.7
Selling, general and administrative expenses			61,721				17.2				76,220				17.7
Other operating income (expenses), net			(4,497	)			(1.3	)			(1,060	)			(0.2	)
Operating income			16,312				4.6				40,517				9.4
Other income (expenses), net			(76	)							(19,141	)
Interest and dividend income			1,250				0.3				2,282				0.5
Interest expense			(2,151	)			(0.6	)			(3,708	)			(0.9	)
Other, net			825				0.2				(17,715	)			(4.1	)
Income before income taxes and equity in earnings of affiliated companies			16,236				4.5				21,376				5.0
Income taxes			5,196				1.5				7,069				1.6
Income before equity in earnings of affiliated companies			11,040				3.1				14,307				3.3
Equity in earnings of affiliated companies			515				0.1				(505	)			(0.1	)
Net income			11,555				3.2				13,802				3.2
Less net income attributable to noncontrolling interests			(1,398	)			(0.4	)			(822	)			(0.2	)
Net income attributable to Komatsu Ltd.		¥	10,157				2.8			¥	12,980				3.0
Net income attributable to Komatsu Ltd. per share (Yen)
Basic			10.49								13.19
Diluted			10.49								13.19

(3) Consolidated Statements of Cash Flows

Millions of yen

		Nine months				Nine months
		ended December				ended December
		31, 2009				31, 2008
Operating activities
Net income		¥	23,405			¥	118,463
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization			67,752				70,343
Deferred income taxes			(12,330	)			1,476
Net loss (gain) from sale of investment securities and subsidiaries			(807	)			2,182
Net loss (gain) on sale of property			(510	)			162
Loss on disposal of fixed assets			1,313				2,314
Pension and retirement benefits, net			(1,884	)			(2,266	)
Changes in assets and liabilities:
Decrease (increase) in trade receivables			(28,410	)			57,245
Decrease (increase) in inventories			86,846				(84,306	)
Increase (decrease) in trade payables			(30,792	)			(35,905	)
Increase (decrease) in income taxes payable			(2,721	)			(42,433	)
Other, net			13,457				(40,159	)
Net cash provided by (used in) operating activities			115,319				47,116
Investing activities
Capital expenditures			(69,103	)			(107,408	)
Proceeds from sale of property			11,077				4,481
Proceeds from sale of available for sale investment securities			720				619
Purchases of available for sale investment securities			(3,465	)			(12,803	)
Proceeds from sale of subsidiaries and equity investees, net of cash disposed			661				—
Acquisition of subsidiaries and equity investees, net of cash acquired			638				135
Collection of loan receivables			10,512				5,128
Disbursement of loan receivables			(1,116	)			(3,416	)
Decrease (increase) in time deposits			(521	)			(1,315	)
Net cash provided by (used in) investing activities			(50,597	)			(114,579	)
Financing activities
Proceeds from long-term debt			104,021				96,685
Repayments on long-term debt			(41,069	)			(54,944	)
Increase (decrease) in short-term debt, net			(70,869	)			129,114
Repayments of capital lease obligations			(25,876	)			(24,570	)
Sale (purchase) of treasury stock, net			150				(32,831	)
Dividends paid			(25,180	)			(43,803	)
Other, net			(1,752	)			(257	)
Net cash provided by (used in) financing actibities			(60,575	)			69,394
Effect of exchange rate change on cash and cash equivalents			(1,219	)			(5,323	)
Net increase (decrease) in cash and cash equivalents			2,928				(3,392	)
Cash and cash equivalents, beginning of year			90,563				102,010
Cash and cash equivalents, end of period		¥	93,491			¥	98,618

None

Nine months ended December 31, 2009 and 2008

1)

Information by Operating Segment

(For the nine months ended December 31, 2009)		Millions of yen

		Construction,
		Mining and				Industrial
		Utility				Machinery								Corporate &
		Equipment				and Others				Subtotal				elimination				Total
Net sales:
Customers			886,487				117,440				1,003,927				—				1,003,927
Intersegment			2,040				11,276				13,316				(13,316	)			—
Total			888,527				128,716				1,017,243				(13,316	)			1,003,927
Segment profit			44,131				2,273				46,404				(4,197	)			42,207

(For the nine months ended December 31, 2008)		Millions of yen

		Construction,
		Mining and				Industrial
		Utility				Machinery								Corporate &
		Equipment				and Others				Subtotal				elimination				Total
Net sales:
Customers			1,428,649				214,040				1,642,689				—				1,642,689
Intersegment			3,659				18,922				22,581				(22,581	)			—
Total			1,432,308				232,962				1,665,270				(22,581	)			1,642,689
Segment profit			188,074				16,296				204,370				(3,404	)			200,966

Notes:

1) Business categories and principal products & services included in each operating segment are as follows:

	a)		Construction, Mining and Utility Equipment
			Excavating equipment, loading equipment, grading & roadbed preparation equipment, hauling equipment, forestry equipment, tunneling machines, recycling equipment, industrial vehicles, other equipment, engines & components, casting products and logistics
	b)		Industrial Machinery and Others
			Metal forging & stamping presses, sheet-metal machines, machine tools, defense systems, temperature-control equipment and others

2) Transfers between segments are made at estimated arm’s-length prices.

2)

Geographic Information

(For the nine months ended December 31, 2009)		Millions of yen

										Europe &												Corporate &
		Japan				Americas				CIS				Others				Subtotal				elimination				Total
Net sales:
Customers			356,775				221,805				104,828				320,519				1,003,927				—				1,003,927
Intersegment			133,402				26,245				16,141				6,454				182,242				(182,242	)			—
Total			490,177				248,050				120,969				326,973				1,186,169				(182,242	)			1,003,927
Segment profit (loss)			(28,514	)			23,337				8,058				39,802				42,683				(476	)			42,207

(For the nine months ended December 31, 2008)																					Millions of yen
										Europe &												Corporate &
		Japan				Americas				CIS				Others				Subtotal				elimination				Total
Net sales:
Customers			681,726				379,596				234,254				347,113				1,642,689				—				1,642,689
Intersegment			323,059				36,475				18,586				27,114				405,234				(405,234	)			—
Total			1,004,785				416,071				252,840				374,227				2,047,923				(405,234	)			1,642,689
Segment profit			69,560				49,941				23,089				51,718				194,308				6,658				200,966

Note: Transfers between segments are made at estimated arm’s-length prices.

3)

Overseas Sales

(For the nine months ended December 31, 2009)		Millions of yen

		Americas				Europe & CIS				Others				Total
Overseas sales			232,725				92,826				440,343				765,894
Consolidated net sales			—				—				—				1,003,927
Ratio of overseas sales to consolidated net sales (%)			23.2				9.2				43.9				76.3

(For the nine months ended December 31, 2008)		Millions of yen

		Americas				Europe & CIS				Others				Total
Overseas sales			410,944				249,337				635,071				1,295,352
Consolidated net sales			—				—				—				1,642,689
Ratio of overseas sales to consolidated net sales (%)			25.0				15.2				38.7				78.9

Notes:		1) Overseas sales represent the sales of Komatsu to customers in countries or regions other than Japan.
		2) Area segments are separated by the geographic proximity. Main countries or areas of each segment above are as follows:

		a) Americas:		North America and Latin America
		b) Europe & CIS:		Germany, U.K. and Russia
		c) Others:		China, Oceania, Southeast Asia, Middle East and Africa

Three months ended December 31, 2009 and 2008

1)

Information by Operating Segment

(For the three months ended December 31, 2009)		Millions of yen

		Construction,
		Mining and				Industrial
		Utility				Machinery								Corporate &
		Equipment				and Others				Subtotal				elimination				Total
Net sales:
Customers			316,882				41,082				357,964				—				357,964
Intersegment			623				2,945				3,568				(3,568	)			—
Total			317,505				44,027				361,532				(3,568	)			357,964
Segment profit (loss)			23,344				(1,397	)			21,947				(1,138	)			20,809

(For the three months ended December 31, 2008)		Millions of yen

		Construction,
		Mining and				Industrial
		Utility				Machinery								Corporate &
		Equipment				and Others				Subtotal				elimination				Total
Net sales:
Customers			378,424				52,977				431,401				—				431,401
Intersegment			933				5,900				6,833				(6,833	)			—
Total			379,357				58,877				438,234				(6,833	)			431,401
Segment profit			39,326				2,352				41,678				(101	)			41,577

Notes:

1) Business categories and principal products & services included in each operating segment are as follows:

	a)		Construction, Mining and Utility Equipment
			Excavating equipment, loading equipment, grading & roadbed preparation equipment, hauling equipment, forestry equipment, tunneling machines, recycling equipment, industrial vehicles, other equipment, engines & components, casting products and logistics
	b)		Industrial Machinery and Others
			Metal forging & stamping presses, sheet-metal machines, machine tools, defense systems, temperature-control equipment and others

2) Transfers between segments are made at estimated arm’s-length prices.

2)

Geographic Information

(For the three months ended December 31, 2009)		Millions of yen

										Europe &												Corporate &
		Japan				Americas				CIS				Others				Subtotal				elimination				Total
Net sales:
Customers			131,348				76,253				35,366				114,997				357,964				—				357,964
Intersegment			57,125				8,950				5,650				3,108				74,833				(74,833	)			—
Total			188,473				85,203				41,016				118,105				432,797				(74,833	)			357,964
Segment profit (loss)			(4,316	)			8,052				3,046				14,198				20,980				(171	)			20,809