Kubota Revenues Dip

Kubota’s farm and industrial machinery segment reported a 5.1 percent decline compared to 2016. The Japanese company’s domestic sales revenue dropped by 7 percent. Its overseas revenue dipped by 4.6 percent. The drought in Thailand and “stagnation” in the North American ag economy contributed to the weak overseas numbers, the company said. A bright spot in the U.S. was an increase in sales of compact tractors.

In its 2017 forecast, Kubota anticipates growth in its machinery sector. It expects the overseas market to see a 6.6 percent increase this year. The domestic market is forecast to improve by 4.4 percent.