Thursday, 16 June 2022 13:55

Kubota earnings boosted by farming, construction

Written by  Mark Daniel
Kubota’s farm machinery sales soared in the past year. Kubota’s farm machinery sales soared in the past year.

Japanese company Kubota Corporation has reported that a solid performance by its farm and construction machinery divisions in both domestic and export markets was largely responsible for the 18.5% increase in revenue last year to ¥2,196.8b (US$19b) during 2021.

Nearly 85% (¥1,864.8b/US$16.1b) was generated by tractors, farm equipment brands including Kverneland and Great Plains, which alongside engines was up 23.6% on 2020.

Revenue at home in 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).

Export sales were driven by the strong demand for tractors and construction machinery in North America, Europe and Australia, while farm equipment sales were strong in India.

While the domestic farm and construction machinery market is expected to remain static during 2022, exports are forecast to increase with continued solid demand in North America and Europe, likely to drive a further increase in consolidated revenue for 2022 to ¥2,450.0b (around US$21b).

In other Kubota news, the manufacturer plans to launch the world’s first hydrogen-powered fuel cell tractor in 2025, initially for the European and American markets. Reports suggest that progress is well advanced in developing tractors ranging from 50 to 100 horsepower, with a prototype ready by 2023. Prices are expected to be around 40% higher than current diesel-powered alternatives.

More like this

Featured

NZ household food waste falls again

Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.

Editorial: No joking matter

OPINION: Sir Lockwood Smith has clearly and succinctly defined what academic freedom is all about, the boundaries around it and the responsibility that goes with this privilege.

DairyNZ plantain trials cut nitrate leaching by 26%

DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.

National

Machinery & Products

JDLink Boost for NZ farms

Connectivity is widely recognised as one of the biggest challenges facing farmers, but it is now being overcome through the…

New generation Defender HD11

The all-new 2026 Can-Am Defender HD11 looks likely to raise the bar in the highly competitive side-by-side category.

» Latest Print Issues Online

Milking It

Full cabinet

OPINION: Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter