(L-R) Masakatsu Hioki, senior executive officer, Komatsu Ltd; and Masato Kitani, executive director, Institute of National Colleges of Technology, Japan.

Komatsu Ltd is offering JPY200 million (USD2.449 million) in scholarships to alleviate the suffering of students and their families affected by the 11 March earthquake and subsequent tsunami.

On 15 April, the Japanese manufacturer reached an agreement with the Institute of National Colleges of Technology, Japan to offer Komatsu scholarships to students of national technical colleges in the devastated areas of Tohoku and northern Kanto. The financial assistance will support students who are expected to join Japan's manufacturing industries in the future.

Komatsu is in the process of discussing with the institute the details of the scholarship allocation but it expects to provide JPY20 million (USD244,900) in annual assistance for 10 years.

Komatsu spokesman Masakatsu Hioki says the group is supported by many "top-notch engineers".

"This is also true for Japan as a nation of manufacturing industries. We have established the scholarship fund with firm convictions that no students should have to give up studying or lose future opportunities because of this disaster."

Hioki hopes that the scholarship recipients will work hard to support Japan's manufacturing industries when they complete their studies.

Komatsu says it will continue with other relief efforts like the ongoing loan of construction equipment and other products to areas hit by the earthquake and tsunami.