August 23, 2024
Komatsu Ltd. (hereafter “Komatsu”) hereby announces that Komatsu decided today that Komatsu will acquire all of the shares that UMW Corporation Sdn. Bhd. (“UMW”) holds in UMW Komatsu Heavy Equipment Sdn. Bhd. (“UKHE”), which is a subsidiary of UMW and an affiliated company, accounted for by the equity method, of Komatsu, and that Komatsu will thereby make UKHE a wholly owned subsidiary of Komatsu.
1. Reason for the acquisition of shares
In order to strengthen Komatsu’s competitiveness in the construction and mining equipment market in Malaysia, Singapore, Myanmar, Brunei and Papua New Guinea, Komatsu established UKHE on July 9, 2018, whereby UMW and Komatsu subscribed for 74.0% and 26.0%, respectively, of the shares in UKHE. Komatsu entered into distributorship agreements with each of UKHE’s subsidiaries and has been selling its construction and mining equipment and providing related services in the relevant regions.
Following discussions held between UMW and Komatsu, Komatsu concluded that it would be desirable to acquire all of the outstanding shares of UKHE held by UMW and to make UKHE a wholly owned subsidiary of Komatsu, from the viewpoint of future sustainable growth of the construction and mining equipment business of Komatsu and UKHE in Southeast Asia and Papua New Guinea.
2. Outline of company to be converted into subsidiary (UMW Komatsu Heavy Equipment Sdn. Bhd.)
Note: All amounts are converted into yen at the exchange rate of 1 ringgit = 34.05 yen.
3. Outline of the counterparty to the share acquisition
4. Number of shares acquired, acquisition price, and shareholding before and after acquisition
5. Timetable
Note: The date of closing of the stock transfer may vary depending on the fulfillment of certain conditions and the acquisition of necessary permits and approvals.
6. Future Outlook
The impact of this stock transfer on the consolidated financial results for the fiscal year ending March 31, 2025 is expected to be insignificant. Komatsu will promptly make announcements if Komatsu identifies any matters that should be disclosed.
(End)
No : 0041（3266）
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.
