Osaka, Japan-based Kubota Corp. last week reported that net sales during the nine months ended Dec. 31, increased US $584.9 million, or 9.6 percent, to $6.7 billion from the corresponding period in the prior year. Overseas sales in internal combustion engine and machinery grew substantially, while the Japanese domestic sales slightly decreased from the corresponding period in the prior year.
However, domestic sales decreased $8.2 million, or 0.2 percent, to $3.4 billion from the corresponding period in the prior year. Although sales of engines and construction machinery increased, sales in internal combustion engine and machinery decreased because of a downturn in farm equipment sales.
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies decreased $34.5 million, or 3.7 percent, to $897.1 million from the corresponding period in the prior year, mainly due to a decrease in other income. As a result, net income was $521.6 million, a decrease of $14.8 million, or 2.7 percent from the corresponding period a year ago.
Kubota Corp.’s North American headquarters are in Torrance, Calif.
