Kubota Sales Rise 1.6%

OSAKA - Feb 6/04 - SNS -- Kubota Corp. reported net sales for the three quarters ending December 31 reached 619.3 billion yen or roughly $5.87 billion, an increase of 9.6 billion yen (1.6 %) or about $9 million compared with the same period of the prior year.

Sales in Internal Combustion Engine and Machinery were 368.5 billion yen or $3.49 billion, an increase of 34.7 billion yen (10.4 %) from the prior period. Sales in Pipes, Valves, and Industrial Castings were 122.3 billion yen, a decrease of 0.4 billion yen (0.3%) from the prior period.

Sales in Environmental Engineering were 33.8 billion yen, a decrease of 15.0 billion yen (30.7 %) from the prior period. Sales in Building Materials and Housing were 45.3 billion yen, an increase of 0.3 billion yen (0.8 %) from the prior period. Sales in the Other segment were 49.4 billion yen, a decrease of 10.0 billion yen (16.9 %) from the prior period.

Operating income was 15.6 billion yen, a decrease of 14.2 billion yen (47.6%) from the prior period, because the pension cost increased 30.4 billion yen from the prior period due to the immediate recognition of unrecognized actuarial losses(a).

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