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Komatsu Has No Plans to Buy Joy Global After Study, CEO Says

Komatsu Ltd., the world’s second-biggest maker of dump trucks, has no plans to bid for Joy Global Inc. after studying the U.S. company as there are few synergies to aid its foray into underground mining equipment.

“While we often consider mergers and acquisitions, it wouldn’t be beneficial for us to do so without synergies,” Chief Executive Officer Kunio Noji said in an interview in Tokyo, where the company is based. Komatsu aims to offer “innovative” products to beat competition in a new business, he said.