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Komatsu Plans to Raise Prices and Cut Costs Due to an Expected Strengthening of the Yen

Komatsu, the world’s second-largest construction machinery maker, plans to raise prices and cut costs due to an expected strengthening of the yen next year. CEO Hiroyuki Ogawa outlined three strategies to counter this: price improvement, cost reduction, and investments in growth areas. While Chinese demand for construction equipment is expected to remain slow, it only makes up 2% of Komatsu’s revenue. The North American market, which accounts for a quarter of their sales, is expected to stay strong in 2024.

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