“Market Cap $19.67 B As of May 2014
At a Glance
- Industry: Heavy Equipment
- Founded: 1921
- Country: Japan
- CEO: Kunio Noji
- Website: www.komatsu.com
- Employees: 46,730
- Sales: $19.71 B
- Headquarters: Tokyo
#410 Global 2000
- #479 in Sales
- #436 in Profit
- #855 in Assets
- #562 in Market value
Komatsu Ltd. engages in the manufacture and sale of construction and mining equipment, utility devices, forest machines, and industrial machineries. It operates through the Construction, Mining and Utility Equipment; and Industrial Machinery and Others segments. The Construction, Mining and Utility Equipment segment provides excavating equipment, loading equipment, grading and roadbed preparation equipment,tunneling machines, recycling equipment, industrial vehicles, engines and components, casting products, and logistics. The Industrial Machinery and Others segment offers metal forging and stamping presses, sheet-metal machines, machine tools, defense systems, and temperature-control equipment. The company was founded by Meitaro Takeuchi on March 13, 1921 and is headquartered in Tokyo, Japan.“
Komatsu Iron Works was started by Takeuchi Mining Industry as a subsidiary to make industrial tools for the parent company. Komatsu eventually became large enough to sell to the public, and was spun off on May 13, 1921 as Komatsu Ltd.
Komatsu produced its first agricultural tractor prototype in 1931. Through the 1930s, Komatsu also produced military tractors for the Japanese military, as well as bulldozers, tanks and howitzers. After World War II, under its new president Yoshinari Kawai, Komatsu added non-military bulldozers and forklifts to its line of equipment. In 1949 it began production of its first diesel engine. Its growth as a company was aided by the strong demand for its bulldozers during Japan’s post-war reconstruction in the 1950s. In August 1951 the corporate headquarters were moved to Tokyo. By 1957 the company had advanced technologically to the point that all its models were using Komatsu engines.
In 1964 Rioichi Kawai, son of Yoshinari Kawai, became president of Komatsu, and it began exporting its products, looking to counteract the postwar image of Japanese products as being cheap and poorly made. In July 1967, it entered the U.S. market, taking on Caterpillar,the largest bulldozer maker, in its home market. This was done under the company slogan of “Maru-C”, translating into English as “encircle Caterpillar” (from the game of Go (board game), where encircling an opponent results in capture of his territory).
Komatsu and Dresser Industries established Komatsu Dresser to make mining tractors and related equipment. This 50-50 ownership lasted from September 1988 to August 1994, when Komatsu bought out Dresser’s share. Komatsu’s mining products were consolidated under the name Komatsu Mining Systems in 1997. To prevent brand-name confusion during these corporate changes, the name “Haulpak” was used for the product line Komatsu began with Dresser. The name “Haulpak” dates back to 1957 when LeTourneau-Westinghouse introduced a range of rear dump trucks known as “Haulpaks”. LeTourneau-Westinghouse equipment later became known simply as WABCO equipment in 1967. The name Haulpak was an industry term that eventually became applied to any type of rear dump truck. A detailed history of the development of the Haulpak can be found in Wabco Australia.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “KomatsuMarketing“