Kubota Corporation Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016
May 10, 2016 at 11:00 am EDT
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Kubota Corporation announced consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of JPY 405,369 million compared to JPY 410,103 million a year ago. Operating income was JPY 57,452 million compared to JPY 59,297 million a year ago. Income before income taxes and equity in net income of affiliated companies was JPY 54,333 million compared to JPY 62,762 million a year ago. Net income attributable to the company was JPY 36,353 million or JPY 29.21 per basic share compared to JPY 39,253 million or JPY 31.54 per basic share a year ago. Net cash used in operating activities was JPY 3,515 million compared to cash provided by operating activities of JPY 8,858 million a year ago. Purchase of fixed assets was JPY 12,032 million against JPY 12,268 million a year ago.
For the year ending Dec. 31, 2016, the company expects revenues of JPY 860,000 million compared to JPY 1,710,000 a year ago. Operating income was JPY 112,000 million compared to JPY 225,000 a year ago. Income before income taxes and equity in net income of affiliated companies was JPY 113,000 million compared to JPY 227,000 million a year ago. Net income attributable to the company was JPY 73,500 million or JPY 59.06 per share compared to JPY 150,000 million or JPY 1250.53 per share a year ago.
Kubota Corporation specializes in the manufacturing and marketing of industrial and agricultural machines and water purifying and distribution equipments. Net sales break down by family of products as follows:
- industrial and agricultural machines (84.9%): tractors, harvesters, transplantors, mowers, etc.;
- water purifying and distribution systems (13.9%): ductile cast iron, steel and plastic pipes, valves, recycling pumps, incinerators, ceramic filters, used water purifiers, etc.;
- other (1.2%): industrial pieces, steel tubes, building machines, etc.
Net sales break down geographically as follows: Japan (27.4%), Asia (18.5%), North America (37.3%), Europe (13%) and other (3.8%).
KUBOTA CORPORATION 
