Directors and Executive Officers to Change

Tokyo, January 31, 2012— Kawasaki Heavy Industries, Ltd. has announced that, based on decisions made at a Board of Directors meeting earlier today, Mitsutoshi Takao, Senior Vice President, will be appointed Senior Executive Vice President, and Senior Vice Presidents Yuichi Asano and Toshikazu Hayashi will be appointed Directors effective April 1, 2012. Asano and Hayashi will resign as Directors to become Advisors in late June 2012.

The Kawasaki Board of Directors also decided today that Managing Executive Officers Masahiko Hirohata and Yoshinori Kanehana, and Executive Officers Joji Iki and Eiji Inoue will be nominated as Directors at the Kawasaki Shareholders’ Meeting in late June 2012. Subject to approval at that meeting, they will then be appointed Senior Vice Presidents. The Company will also nominate Yuji Murakami as Corporate Auditor at the Shareholders’ Meeting. Current Corporate Auditor Nobuyuki Okazaki will resign after that meeting.

Projected Board of Directors (effective in late June 2012)

Tadaharu Ohashi
Chairman

Satoshi Hasegawa*
President

Masashi Segawa*
Senior Executive Vice President

Mitsutoshi Takao*
Senior Executive Vice President

Nobumitsu Kambayashi*
Senior Vice President

Kyohei Matsuoka*
Senior Vice President

Hiroshi Takata*
Senior Vice President

Shigeru Murayama*
Senior Vice President

Makoto Sonoda*
Senior Vice President

Joji Iki*
Senior Vice President

Masahiko Hirohata
Senior Vice President

Eiji Inoue*
Senior Vice President

Yoshinori Kanehana
Senior Vice President

        *Representative Director

New corporate auditor to be nominated

Yuji Murakami

Retiring corporate auditor

Nobuyuki Okazaki

The Company also announced today that the following management changes will become effective April 1, 2012:

New managing executive officers to be appointed

Joji Iki
President
Gas Turbine & Machinery Company
(currently General Manager
Machinery Division
Gas Turbine & Machinery Company)

Eiji Inoue
President
Plant & Infrastructure Company
(currently Vice President
Plant & Infrastructure Company)

Managing executive officer to be appointed to new position

Yoshinori Kanehana
General Manager
Marketing Division
(currently Vice President
Rolling Stock Company)

New executive officers to be appointed

Yugo Nakagami
(currently General Manager
Industrial Plant Engineering Division
Plant & Infrastructure Company)

Hirokazu Komaki
(currently General Manager
Engineering Division
Aerospace Company)

Shiro Nakabayashi
(currently General Manager
Corporate Business Development Division)

Munenori Ishikawa
(currently General Manager
Manufacturing Division
Aerospace Company)

Toshiyuki Kuyama
(currently Deputy General Manager
Gas Turbine Division
Gas Turbine & Machinery Company)

Shigehiko Kiyama
(currently General Manager
Supply Chain Division
Motorcycle & Engine Company)

Kenji Tomida
(currently Deputy General Manager
Corporate Planning Division)

Retiring executive officer

Yukio Hayano