Apr. 26, 2024
Komatsu Ltd. (“Komatsu”) hereby announces that Komatsu resolved at a meeting of the board of directors held on April 26, 2024, to repurchase its shares of common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act. It has also resolved to cancel its shares of treasury stock pursuant to Article 178 of the Companies Act.
1.Purpose of share buyback and cancellation of treasury stock
Komatsu is building a sound financial position and enhancing its competitiveness in order to increase its sustainable corporate value. Concerning cash dividends, Komatsu has the policy of continuing stable payment of dividends after comprehensively considering consolidated business results and reviewing future investment plans, cash flows, and the like. Specifically, Komatsu has the policy of maintaining a consolidated payout ratio of 40% or higher.
Komatsu has decided to repurchase its shares of common stock from the viewpoint of increasing its corporate value and shareholder returns taking into consideration the current capital efficiency, financial soundness, and other factors.
In addition, Komatsu has decided to cancel its shares of treasury stock to be repurchased after comprehensively considering the specific use of the shares and the reasons for holding them.
No : 0011（3236）
Corporate Communications Department
Sustainability Promotion Division
Komatsu Ltd.
tel: +81-(0)3-6849-9703
mail: JP00MB_cc_department@global.komatsu
*The information may be subject to change without notice.
