Annual Report 2007 - Komatsu
Annual Report 2007 - Komatsu Annual Report 2007 - Komatsu
Report of Independent Registered Public Accounting Firm The Board of Directors and Shareholders Komatsu Ltd.: We have audited management's assessment, included in the accompanying Management’s Report on Internal Control over Financial Reporting, that Komatsu Ltd. and subsidiaries maintained effective internal control over financial reporting as of March 31, 2007, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company's management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. Our responsibility is to express an opinion on management's assessment and an opinion on the effectiveness of the Company’s internal control over financial reporting based on our audit. We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, evaluating management's assessment, testing and evaluating the design and operating effectiveness of internal control, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. In our opinion, management's assessment that Komatsu Ltd. and subsidiaries maintained effective internal control over financial reporting as of March 31, 2007, is fairly stated, in all material respects, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Also, in our opinion, Komatsu Ltd. and subsidiaries maintained, in all material respects, effective internal control over financial reporting as of March 31, 2007, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Komatsu Ltd. and subsidiaries as of March 31, 2007 and 2006, and the related consolidated statements of income, shareholders’ equity and cash flows for each of the years in the three-year period ended March 31, 2007, expressed in Japanese yen, and our report dated June 29, 2007 expressed an unqualified opinion on those consolidated financial statements. Tokyo, Japan June 29, 2007 90 Annual Report 2007
Directors, Auditors and Officers (As of June 22, 2007) Board of Directors Masahiro Sakane Chairman of the Board Kunio Noji President and Chief Executive Officer Yoshinori Komamura Director and Senior Executive Officer President, Construction & Mining Equipment Marketing Division Yasuo Suzuki Director and Senior Executive Officer General Manager, Corporate Planning Division Supervising Structual Reorganization, External Corporate Affairs, Environment, Compliance, Legal Affairs, CSR, Human Resources and Industrial Machinery Business Masahiro Yoneyama Director and Senior Executive Officer Representative of All China Operations Susumu Isoda Director and Senior Executive Officer President, Komatsu Utility Co., Ltd. Kenji Kinoshita Director and Senior Executive Officer Chief Financial Officer Supervising Audit, Corporate Communications and Investor Relations Toshio Morikawa Outside Director Advisor, Sumitomo Mitsui Banking Corporation Hajime Sasaki Outside Director Chairman of the Board, NEC Corporation Morio Ikeda Outside Director Advisor, Shiseido Company, Limited Corporate Auditors Makoto Nakamura Corporate Auditor (Full time) Masafumi Kanemoto Corporate Auditor (Full time) Takaharu Dohi Outside Corporate Auditor Attorney at law Makoto Okitsu Outside Corporate Auditor Chairman, Teijin Limited Hiroyuki Kamano Outside Corporate Auditor Partner, Kamano Sogo Law Offices Executive Officers Mamoru Hironaka Senior Executive Officer Vice President, Construction & Mining Equipment Marketing Division President, Product Support Division Masao Fuchigami Senior Executive Officer President, Research Division Supervising Design & Development and Quality Assurance Taizo Kayata Senior Executive Officer President, Overseas Marketing, Construction & Mining Equipment Marketing Division Masaji Kitamura Senior Executive Officer President, Construction & Mining Equipment Strategy Division Nobukazu Kotake Senior Executive Officer President, Development Division Susumu Yamanaka Senior Executive Officer President, Defense Systems Division Masakatsu Hioki Executive Officer General Manager, Human Resources Supervising Safety Tetsuji Ohashi Executive Officer President, Production Division Supervising e-KOMATSU Shinichiro Komiya Executive Officer President, Japanese Marketing, Construction & Mining Equipment Marketing Division Koji Yamada Executive Officer President, Industrial Machinery Division Tetsuro Kajiya Executive Officer President, Procurement Division Nobuki Hasegawa Executive Officer General Manager, Construction Equipment Technical Center 2, Development Division Mikio Fujitsuka Executive Officer Deputy General Manager, Corporate Planning Division Ichiro Sasaki Executive Officer Osaka Plant Manager, Production Division Fujitoshi Takamura Executive Officer General Manager, Construction Equipment Technical Center 1, Development Division Yoshisada Takahashi Executive Officer Awazu Plant Manager, Production Division Tadashi Okada Executive Officer General Manager, Corporate Communications and CSR Supervising General Affairs Masahiro Uegaki Executive Officer Mooka Plant Manager, Production Division Kazunori Kuromoto Executive Officer General Manager, Construction Equipment Electronics, Development Division Mitsuru Ueno Executive Officer President, Engines & Hydraulics Business Division and Oyama Plant Manager 91 Annual Report 2007
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- Page 47 and 48: FINANCIAL REVIEW 5 Environmental la
- Page 49 and 50: FINANCIAL REVIEW Interest Rate Risk
- Page 51 and 52: FIVE-YEAR SUMMARY Millions of yen (
- Page 53 and 54: CONSOLIDATED BALANCE SHEETS Thousan
- Page 55 and 56: Consolidated Statements of Sharehol
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- Page 97: 2-3-6 Akasaka, Minato-ku Tokyo 107-
Directors, Auditors and Officers<br />
(As of June 22, <strong>2007</strong>)<br />
Board of Directors<br />
Masahiro Sakane<br />
Chairman of the Board<br />
Kunio Noji<br />
President and Chief Executive Officer<br />
Yoshinori Komamura<br />
Director and Senior Executive Officer<br />
President, Construction & Mining<br />
Equipment Marketing Division<br />
Yasuo Suzuki<br />
Director and Senior Executive Officer<br />
General Manager,<br />
Corporate Planning Division<br />
Supervising Structual Reorganization,<br />
External Corporate Affairs, Environment,<br />
Compliance, Legal Affairs, CSR, Human<br />
Resources and Industrial Machinery<br />
Business<br />
Masahiro Yoneyama<br />
Director and Senior Executive Officer<br />
Representative of All China Operations<br />
Susumu Isoda<br />
Director and Senior Executive Officer<br />
President, <strong>Komatsu</strong> Utility Co., Ltd.<br />
Kenji Kinoshita<br />
Director and Senior Executive Officer<br />
Chief Financial Officer<br />
Supervising Audit, Corporate<br />
Communications and Investor Relations<br />
Toshio Morikawa<br />
Outside Director<br />
Advisor,<br />
Sumitomo Mitsui Banking Corporation<br />
Hajime Sasaki<br />
Outside Director<br />
Chairman of the Board,<br />
NEC Corporation<br />
Morio Ikeda<br />
Outside Director<br />
Advisor,<br />
Shiseido Company, Limited<br />
Corporate Auditors<br />
Makoto Nakamura<br />
Corporate Auditor (Full time)<br />
Masafumi Kanemoto<br />
Corporate Auditor (Full time)<br />
Takaharu Dohi<br />
Outside Corporate Auditor<br />
Attorney at law<br />
Makoto Okitsu<br />
Outside Corporate Auditor<br />
Chairman,<br />
Teijin Limited<br />
Hiroyuki Kamano<br />
Outside Corporate Auditor<br />
Partner,<br />
Kamano Sogo Law Offices<br />
Executive Officers<br />
Mamoru Hironaka<br />
Senior Executive Officer<br />
Vice President, Construction & Mining<br />
Equipment Marketing Division<br />
President, Product Support Division<br />
Masao Fuchigami<br />
Senior Executive Officer<br />
President, Research Division<br />
Supervising Design & Development<br />
and Quality Assurance<br />
Taizo Kayata<br />
Senior Executive Officer<br />
President, Overseas Marketing,<br />
Construction & Mining Equipment<br />
Marketing Division<br />
Masaji Kitamura<br />
Senior Executive Officer<br />
President, Construction & Mining<br />
Equipment Strategy Division<br />
Nobukazu Kotake<br />
Senior Executive Officer<br />
President, Development Division<br />
Susumu Yamanaka<br />
Senior Executive Officer<br />
President, Defense Systems Division<br />
Masakatsu Hioki<br />
Executive Officer<br />
General Manager, Human Resources<br />
Supervising Safety<br />
Tetsuji Ohashi<br />
Executive Officer<br />
President, Production Division<br />
Supervising e-KOMATSU<br />
Shinichiro Komiya<br />
Executive Officer<br />
President, Japanese Marketing,<br />
Construction & Mining Equipment<br />
Marketing Division<br />
Koji Yamada<br />
Executive Officer<br />
President, Industrial Machinery Division<br />
Tetsuro Kajiya<br />
Executive Officer<br />
President, Procurement Division<br />
Nobuki Hasegawa<br />
Executive Officer<br />
General Manager, Construction<br />
Equipment Technical Center 2,<br />
Development Division<br />
Mikio Fujitsuka<br />
Executive Officer<br />
Deputy General Manager,<br />
Corporate Planning Division<br />
Ichiro Sasaki<br />
Executive Officer<br />
Osaka Plant Manager,<br />
Production Division<br />
Fujitoshi Takamura<br />
Executive Officer<br />
General Manager, Construction<br />
Equipment Technical Center 1,<br />
Development Division<br />
Yoshisada Takahashi<br />
Executive Officer<br />
Awazu Plant Manager,<br />
Production Division<br />
Tadashi Okada<br />
Executive Officer<br />
General Manager, Corporate<br />
Communications and CSR<br />
Supervising General Affairs<br />
Masahiro Uegaki<br />
Executive Officer<br />
Mooka Plant Manager,<br />
Production Division<br />
Kazunori Kuromoto<br />
Executive Officer<br />
General Manager, Construction<br />
Equipment Electronics,<br />
Development Division<br />
Mitsuru Ueno<br />
Executive Officer<br />
President, Engines & Hydraulics Business<br />
Division and Oyama Plant Manager<br />
91 <strong>Annual</strong> <strong>Report</strong> <strong>2007</strong>
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