Osaka, Japan-based Kubota Corp. last week announced that revenues for the year ended March 31, increased 5.8 percent to 61.7 billion yen (about U.S. $513.4 million), to 1,127.5 billion yen (U.S. $9.38 billion) from the prior year.
In the domestic market, revenues decreased 4.5 percent, or 28.6 billion yen (U.S. $238.0 million), to 603.5 billion yen (U.S. $5.0 billion). Revenues in Internal Combustion Engine & Machinery decreased due to declined sales of core farm equipment even though sales of construction machinery and engines increased steadily, the company said.
On the other hand, revenues in overseas markets increased 90.3 billion yen (U.S. $751.4 million), or 20.8 percent, to 524.0 billion yen (U.S. $4.4 billion) from the prior year. In North America, sales of newly introduced mid-size tractors expanded largely, and sales of construction machinery and engines also increased. In Europe, sales of tractors, construction machinery and engines increased all together. In Asia outside Japan, a great increase in sales of farm equipment for rice farming continued. As a consequence, the ratio of overseas revenues to consolidated revenues rose 5.8 percentage points, to 46.5 percent.
