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KUBOTA ISSUES STATEMENT OF EARNINGS FOR FIRST HALF OF FISCAL 1991

 KUBOTA ISSUES STATEMENT OF EARNINGS FOR FIRST HALF OF FISCAL 1991
 TOKYO, Nov. 26 /PRNewswire/ -- Kubota Corporation (NYSE: KUB), Japan's leading manufacturer of farm equipment, pipes, industrial machinery and housing materials, today issued its consolidated statements of earnings for the first half of fiscal 1991, reporting an increase of sales and a decline in profits from the comparable period of last fiscal year.
 According to the statement, the company's sales for the April 1 through Sept. 30 period rose 4.1 percent to 429.0 billion yen in sales from the first six months of fiscal 1990.
 Domestic sales rose 6.6 percent to 356.4 billion yen from a year before due to steady sales of farm equipment, which is the company's mainstay product, as well as ductile iron pipes, PVC pipes and other products in the pipe and fluid systems engineering group. Sales of environmental control facilities and electronic-equipped machinery were also strong.
 However, overseas sales declined 6.5 percent to 72.6 billion yen from the comparable period of last fiscal year. This is because while sales of electronics-related products surged, sales of farm equipment were weak due to stagnant demand in Europe, North America and Oceania. The ratio of export sales sagged 2.0 percentage points to 16.9 percent.
 Net income declined 0.6 billion yen (23.4 percent) to 1.8 billion yen as an increase of 2.4 billion yen (18.0 percent) to 15.7 billion yen in operating income was offset by a decrease in income before tax resulting from (1) an increase in investment in computer-related projects which boosted interest burdens, and (2) a decrease in exchange gains.
 Net income per share for the six-month period shrunk 0.39 yen to 1.29 yen.
 KUBOTA CORPORATION
 (In millions of yen)
 Six month period Increase or Percent
 April 1 - Sept. 30: 1991 1990 (decrease) change
 Net sales 429,049 412,065 16,984 4.1
 Operating income 15,735 13,334 2,401 18.0
 Income before income taxes 13,335 15,125 (1,790) (11.8)
 Net income 1,816 2,370 (554) (23.4)
 -0- 11/26/91
 /CONTACT: Masaru Tsukamoto of the financial liaison office of Kubota, 212-490-8050, or Hirotsugu Shimada of Kubota Finance (U.K.) in the U.K.: 71-408-2231/
 (KUB) CO: Kubota Corporation ST: IN: MAC SU: ERN


TS -- NY009 -- 7117 11/26/91 06:57 EST
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Date:Nov 26, 1991
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