Komatsu announced its business results for the fiscal year ended March 31, 2011 which is up by 28.7 per cent. During the fiscal year under review, Komatsu recorded consolidated net sales of $22,206 million, up by 28.7 per cent from the previous fiscal year. While the Japanese currency appreciated sharply against the US Dollar, Euro and Renminbi from the previous fiscal year and Komatsu incurred a loss resulting from the damages by the Great East Japan Earthquake and the subsequent tsunami, made sizable gains by expanding the volume of sales and continuing structural reform efforts, such as the realisation of selling prices and the improvement of production costs. Specifically, operating income reached $2,686 million, registering an increase of 232.6 per cent from the previous fiscal year, and operating income ratio advanced to 12.1 per cent, an improvement of 7.4 per cent points. In the construction, mining and utility equipment business, demand is on a recovery track in traditional markets of North America and Europe in addition to the strong growth of strategic markets. Komatsu is projecting that demand for mining equipment will continue into the next fiscal year.