Topcon and Komatsu executed stock transfer of iVolve, an Australian fleet management system provider for construction and mining machinery.

December 6, 2023

Topcon Corporation (Head Office: Itabashi-ku, Tokyo; President and CEO: Takashi Eto) has entered into an agreement to sell the shares of its group company, iVolve Holdings Pty Ltd (Headquarters: Queensland, Australia; CEO: Kim Parascos, hereafter “iVolve”), to Komatsu Ltd (Headquarters: Minato-ku, Tokyo; President and CEO: Hiroyuki Ogawa, hereafter “Komatsu”) through their wholly owned subsidiary in Australia, and its shares transfer has been completed.

iVolve is a technology company that our U.S. subsidiary, Topcon Positioning Systems Inc. (Headquarters: California, USA; President & CEO: Raymond O’Connor), invested in 2014. It specializes in developing fleet management systems for miners, contractors, and quarries. The company focuses on visualizing operational management information, reduce running costs and ensure safe operations through access to real time data. iVolve has a strong presence in sales, primarily catering to small to mid-tier miners and quarries in Australia and the Americas.

Based on the longstanding collaborative relationship between Komatsu and Topcon in the construction and mining world, the smooth business transfer that has now been realized and Topcon wishes to contribute to the further enhancement of Komatsu business leveraging our expertise in precision positioning, the solutions developed by iVolve over time, particularly the fleet management system for mining and quarries operators, are anticipated to complement and strengthen Komatsu business.

The specific sales/purchase amount of the shares was not disclosed.

The impact on Topcon’s consolidated business results is estimated to be minimal.

■ Outline of iVolve
 Company Name : iVolve Holdings Pty Ltd. (private company)
 Location : Brisbane, Queensland, Australia
 Representative : Kim Parascos
 Line of business : Development and sales of fleet management system for small to mid-tier miners,
 contractors, and quarries
 URL :

■ Outline of Komatsu Ltd.
 Company name: Komatsu Ltd.
 Representative: President and Chief Executive Officer Hiroyuki Ogawa
 Established: May 13, 1921
 Capital: Consolidated: 69,660 million yen (according to US GAAP), Non-consolidated: 72,118 million yen
 Net Sales (Consolidated): 3,543.4 billion yen
 Stock Exchange Listings Tokyo Stock Exchange, Prime Market (6301)
 Number of Employees: Consolidated: 64,343, Non-consolidated: 12,208

 Business Description: manufacturing and selling of construction, mining, utility, forestry, and industrial machinery. 

■ Outline of Topcon
 Representative: President & CEO Takashi Eto
 Established: September 1, 1932
 Capital: ¥16,780 million (As of March 31, 2023)
 Net Sales (Consolidated): ¥215,625 million (As of FY2022)
 Stock Exchange Listings Tokyo Stock Exchange, Prime Market (7732)
 Number of Employees (Consolidated) 5,543 (As of March 31, 2023)

 Business Description:
 Enrich the lives of people around the world by solving societal challenges related to
 Healthcare, Agriculture, and Infrastructure market with leading-edge digital transformation solutions.
 Healthcare: Early detection of eye diseases by creating a system for “eye disease screening”
 Agriculture: Improvement of productivity and quality for food production through “Automation of farm operations”
 Infrastructure: “Automation of construction process” for an urban development that enables people to live in affluence.