Kubota Releases Year-End Report

Kubota Corporation reported this week its consolidated results for the year ended March 31. The report showed revenues of the corporation and its subsidiaries increased by ¥78.3 billion (5.2%) from the prior year, to ¥1,586.9 billion.

The Farm & Industrial Machinery segment increased by 5.4% from the prior year to ¥1,215 billion, and accounted for 76.6% of consolidated revenues.

Overseas revenues increased by 16.7% to ¥957.4 billion.

In North America, as economic recovery trends continued, sales of tractors remained steady due to market expansion and other factors. Revenues in Europe rose significantly because of increased sales of tractors, construction machinery and engines, owing to the effect of yen depreciation, the bottoming out of the economy and business expansion in Central and Eastern Europe, including Poland. Revenues in Asia outside Japan were higher than in the prior year due to increased sales of farm equipment in some countries in Southeast Asia and India.

However, sales in China were weak due to the temporary suspension of subsidies for Kubota products. S