diff --git a/src/win/Makefile.mingw b/src/win/Makefile.mingw
index 4390235a9..42b3fbbbc 100644
--- a/src/win/Makefile.mingw
+++ b/src/win/Makefile.mingw
@@ -631,6 +631,7 @@ MCHOBJ		:= machine.o machine_table.o \
 		    m_at_socket8.o m_at_slot1.o m_at_slot2.o m_at_socket370.o \
 			m_at_misc.o
 
+ifeq ($(NEW_KBC), y)
 DEVOBJ		:= bugger.o cartridge.o cassette.o hasp.o hwm.o hwm_lm75.o hwm_lm78.o hwm_gl518sm.o hwm_vt82c686.o \
 			ibm_5161.o isamem.o isartc.o lpt.o pci_bridge.o postcard.o serial.o \
 			clock_ics9xxx.o isapnp.o \