Solid performance by the farm and construction machinery division from both domestic and export markets was largely responsible for the 18.5% increase in Kubota Corporation revenue last year to ¥2,196.8b (approx. US$19b).
Nearly 85% (¥1,864.8b/US$16.1b) was generated by the concern’s farm and construction machinery division – tractors, farm equipment (includes Kverneland and Great Plains) and engines – up 23.6% on 2020.
Revenue in the home country of Japan increased by 1.3% from the previous year to ¥602.8b (US$5.2b), while ag and construction machinery export revenue increased 27.8% to ¥1,554.3b (US$13.4b).
Exports were assisted by the strong demand for tractors and construction machinery in North America and Europe. The tractor and construction markets were also up in Australia and farm equipment sales were strong in India.
While the domestic farm and construction machinery market is expected to remain at the same level this year, export revenue is forecast to increase due to the continued solid demand in North America and Europe. Kubota forecasts a further increase in consolidated revenue for 2022 to¥2,450.0b (around US$21b).
Kubota revenue tops US$17 billion | profi
