The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Tsubasa Sasaki - Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Research Division - Analyst
: Hello, do you hear me? This is Sasaki of Mitsubishi UFJ Morgan Stanley Securities. First question is about the demand environment. In your
presentation, you said that latest demand has been very robust, but also said the interest hike and supply chain disruption may affect the demand
trend.
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JULY 29, 2022 / NTS, 6301.T - Q1 2023 Komatsu Ltd Earnings Presentation
In mining, the demand for mining equipment has been robust as well. But it is a fact that the recent price of various minerals, including copper
and iron ore, except summer coal has been falling.
So I'd like to have your comment based on the feedback from operational site on whether you feel the slowdown in construction and mining
equipment in Europe, America and Asia where demand has been robust. I'd like to hear your thoughts on the sustainability of the strong demand.
Would you give us more color, more in detail? How do you feel about it as of now?
Question: Tsubasa Sasaki - Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Research Division - Analyst
: I learned your feeling that the demand is strong. As a follow-up question, though you talked about a good story. Generally speaking, there is a
strong concern for the potential economic slowdown caused by interest hike and monetary tightening policy.
Now listening to your comment, I thought that customers' inquiry is strong, both in Mining and Construction. What is the background of such
strong demand? Would you please share your thoughts on this with us.
Question: Tsubasa Sasaki - Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Research Division - Analyst
: It was extremely useful. Second question is a different topic. I'd like to know the supply chain disruption for Komatsu. I think the logistics disruption
caused by semiconductor shortages and mainly the tight shipping space has been the issue originally. But for you, would you comment on the
situation in material shortage and the shipping space in April to June period and your forecast going forward?
In particular, just yesterday, a competitor said that the logistic disruption will grow more serious starting from the first quarter. So please let us
know the update on material shortage and the shipping condition of Komatsu.
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