orangebluegreen
Gold Member
Re: Anyone know Kubota\'a KCC next finance promotion ?
Drought?
Market share perhaps??
Kubota Corporation Reported Today its Consolidated Results of Operations for the Three Months Ended June 30, 2005
Thursday August 4, 4:00 am ET
OSAKA, Japan--(BUSINESS WIRE)--Aug. 4, 2005--Net sales of Kubota Corp. (NYSE:KUB - News; hereinafter "the Company") during the three months under review, net sales were 219.5 billion yen, an 11.9% increase from the corresponding period in the prior year, resulting from favorable sales in the domestic and overseas markets.
In the domestic market sales of tractor and other agricultural machinery increased due to aggressive sales campaigns. In addition, sales of engines and construction machinery expanded sharply. Domestic sales in Pipes, Valves, and Industrial Castings increased owing to increased sales of plastic pipe and industrial castings. Increased sales of plastic pipe is attributable to the launch of Kubota-C.I. Co., Ltd., which was jointly established by the Company and C.I. Kasei Company Limited on April 1, 2005. Domestic sales in Environmental Engineering increased due to sales of Water and Sewage Engineering Division, and domestic sales in "Other" segment slightly increased as increase in sales of vending machine compensated the decrease in sales of the building materials business. As a result, total domestic sales increased 8.9%, to 119.5 billion yen from the corresponding period in the prior year.
Overseas sales increased 15.7% to 100.0 billion yen from the corresponding period in the prior year. Sales of engines and construction machinery continued rapid expansion in the U.S. and EU markets and sales of other products of the Internal Combustion Engine and Machinery segment increased steadily.
Operating income was 29.1 billion yen, a 27.5% increase from the corresponding period in the prior year. While price increases in raw materials and appreciation of yen negatively affected operating income, increased sales, centering on Internal Combustion Engine and Machinery, a decrease in pension costs, and profit on sale of properties contributed to the large increase in operating income.
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies was 32.1 billion yen, a 24.4% increase from the corresponding period in the prior year, due to an increase in operating income. As a result, after income taxes, minority interests in earnings of subsidiaries and equity in net loss of affiliated companies, net income was 19.1 billion yen, a 36.2% increase from the corresponding period in the prior year.
As for the matter related to the health hazard of asbestos, which became an object of public concern in Japan, the Company declared its intention to act seriously and faithfully for various issues of the health hazard of asbestos in its press release "Notice on the Company's action for the health hazard of asbestos" dated June 30, 2005. The Company, which previously manufactured asbestos-containing products for a long time, has decided to take the actions from the view point of CSR (Corporate Social Responsibility). The Company has not recorded any accrual of loss contingencies so far, because it is difficult for the Company to reasonably estimate the amount of the expenses related to this matter.
Drought?
Market share perhaps??
Kubota Corporation Reported Today its Consolidated Results of Operations for the Three Months Ended June 30, 2005
Thursday August 4, 4:00 am ET
OSAKA, Japan--(BUSINESS WIRE)--Aug. 4, 2005--Net sales of Kubota Corp. (NYSE:KUB - News; hereinafter "the Company") during the three months under review, net sales were 219.5 billion yen, an 11.9% increase from the corresponding period in the prior year, resulting from favorable sales in the domestic and overseas markets.
In the domestic market sales of tractor and other agricultural machinery increased due to aggressive sales campaigns. In addition, sales of engines and construction machinery expanded sharply. Domestic sales in Pipes, Valves, and Industrial Castings increased owing to increased sales of plastic pipe and industrial castings. Increased sales of plastic pipe is attributable to the launch of Kubota-C.I. Co., Ltd., which was jointly established by the Company and C.I. Kasei Company Limited on April 1, 2005. Domestic sales in Environmental Engineering increased due to sales of Water and Sewage Engineering Division, and domestic sales in "Other" segment slightly increased as increase in sales of vending machine compensated the decrease in sales of the building materials business. As a result, total domestic sales increased 8.9%, to 119.5 billion yen from the corresponding period in the prior year.
Overseas sales increased 15.7% to 100.0 billion yen from the corresponding period in the prior year. Sales of engines and construction machinery continued rapid expansion in the U.S. and EU markets and sales of other products of the Internal Combustion Engine and Machinery segment increased steadily.
Operating income was 29.1 billion yen, a 27.5% increase from the corresponding period in the prior year. While price increases in raw materials and appreciation of yen negatively affected operating income, increased sales, centering on Internal Combustion Engine and Machinery, a decrease in pension costs, and profit on sale of properties contributed to the large increase in operating income.
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies was 32.1 billion yen, a 24.4% increase from the corresponding period in the prior year, due to an increase in operating income. As a result, after income taxes, minority interests in earnings of subsidiaries and equity in net loss of affiliated companies, net income was 19.1 billion yen, a 36.2% increase from the corresponding period in the prior year.
As for the matter related to the health hazard of asbestos, which became an object of public concern in Japan, the Company declared its intention to act seriously and faithfully for various issues of the health hazard of asbestos in its press release "Notice on the Company's action for the health hazard of asbestos" dated June 30, 2005. The Company, which previously manufactured asbestos-containing products for a long time, has decided to take the actions from the view point of CSR (Corporate Social Responsibility). The Company has not recorded any accrual of loss contingencies so far, because it is difficult for the Company to reasonably estimate the amount of the expenses related to this matter.
