SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report Of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April 2003.
Commission File Number: 2-58155
KUBOTA CORPORATION
(Translation of registrant’s name into English)
2-47, Shikitsuhigashi 1-chome, Naniwa-ku, Osaka, Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F :
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) :
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) :
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934 :
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule12g3-2(b) : 82-
Information furnished on this form:
Exhibit Number | ||
1. | ||
2. | Notice on revised financial forecasts for the year ended March 31, 2003 (Friday April 11, 2003). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
KUBOTA CORPORATION | ||||||||
Date: April 30, 2003 | By: | /s/ Shigeru Kimura | ||||||
Name: Shigeru Kimura Title: General Manager Finance & Accounting Department | ||||||||
To whom it may concern
Kubota Corporation
2-47, Shikitsu-higashi 1-chome,
Naniwa-ku, Osaka 556-8601, Japan
President and Representative Director
Daisuke Hatakake
Contact: IR Group
Finance & Accounting Department
Phone: +81-6-6648-2645
Notice of Change of Management
Please be advised that the Board of Directors of Kubota Corporation (“the Company”) resolved at the Board Meeting held on April 1, 2003 to change Representative Directors and other Directors as follows:
1. Contents of change
1) Representative Directors (Effective from April 1, 2003)
Name | New Title | Former Title | ||
Tomomi Soh | Executive Vice President and Representative Director | Executive Managing Director | ||
Mikio Kinoshita | Executive Vice President and Representative Director | Executive Managing Director | ||
Takeshi Oka | Executive Managing Director | Executive Managing Director and Representative Director |
2) Other Directors (Effective from April 1, 2003)
Name | New Title | Former Title | ||
Tsuyoshi Hayashi | Executive Managing Director | Managing Director | ||
Tadahiko Kinoshita | Executive Managing Director | Managing Director | ||
Masaru Ishiguro | Managing Director | Director | ||
Akira Seike | Managing Director | Director | ||
Toshiyuki Yotsumoto | Managing Director | Director | ||
Yoshihiro Fujio | Managing Director | Director | ||
Moriya Hayashi | Managing Director | Director |
3) Resignation (scheduled after the Shareholders Meeting to be held in June, 2003)
Name | Current Title | |||
Takeshi Oka | Executive Managing Director | |||
Tatsuo Arata | Managing Director | |||
Masakatsu Yamamoto | Managing Director | |||
Okihiro Asada | Managing Director | |||
Yoji Okihara | Managing Director | |||
Masatake Matsui | Managing Director | |||
Koh Shimizu | Director | |||
Toshi Nakajima | Director |
End of document
To whom it may concern
Kubota Corporation
2-47, Shikitsu-higashi 1-chome,
Naniwa-ku, Osaka 556-8601, Japan
President and Representative Director
Daisuke Hatakake
Contact: IR Group
Finance & Accounting Department
Phone: +81-6-6648-2645
Notice on revised financial forecasts for the year ended March 31, 2003
Please be advised that Kubota Corporation (the Company) has revised the consolidated and non-consolidated (parent company only) financial forecasts for the year ended March 31, 2003 as follows:
<The original forecasts were released on November 13, 2002 when the Company announced the financial results for the six months ended September 30, 2002.>
1. Revised consolidated financial forecasts for the year ended March 31, 2003.
(April 1, 2002—March 31, 2003)
(Unit; ¥million, %)
Net sales | Income before Income Taxes, Minority Interest in Earnings of Subsidiaries, and Equity in Net Income of Affiliated Companies | Net Income | ||||
Original Forecasts | 930,000 | 47,000 | 24,000 | |||
Revised Forecasts | 925,000 | 5,000 | -9,000 | |||
Change | -5,000 | -42,000 | -33,000 | |||
(%) | -0.5 | -89.4 | — | |||
Comparable Previous Year (Year ended March 31, 2002) | 965,791 | 28,683 | 9,530 |
2. Revised non-consolidated financial forecasts for the year ended March 31, 2003.
(April 1, 2002—March 31, 2003)
(Unit; ¥million, %)
Net sales | Ordinary Income | Net Income | ||||
Original Forecasts | 685,000 | 24,000 | 12,000 | |||
Revised Forecasts | 670,000 | 26,000 | -8,000 | |||
Change | -15,000 | 2,000 | -20,000 | |||
(%) | -2.2 | 8.3 | — | |||
Comparable Previous Year (Year ended March 31, 2002) | 672,576 | 23,967 | 136 |
3. Reasons for revision
(Consolidation)
Net sales are expected to be slightly lower than the original forecast because the favorable overseas sales such as the sales of tractors is not enough to offset the sluggish sales of the products related to the domestic public works spending.
The income before income taxes, minority interest in earnings of subsidiaries, and equity in net income of affiliated companies will be significantly decreased due to the ¥24.0 billion valuation losses on marketable securities, and the ¥16.5 billion impairment loss
on the golf course owned and operated by the subsidiary of the Company. Net loss of ¥9.0 billion will be expected due to the above mentioned decrease of the income before income taxes and the increase of the effective income tax rate.
(Non-consolidation)
Although net sales will be reduced compared to the original forecasts, ordinary income will be higher than previously expected. Net loss of ¥8.0 billion is expected due to the net non-recurring losses of ¥38.0 billion which includes the valuation losses on marketable securities, and the loss related to the above mentioned golf course, and the gain assuming the relinquishment of the substitutional portion of the retirement benefit obligations of welfare pension funds of the Company.
The Company plans to pay the year-end cash dividends of ¥15.00 per ADS which is the same amount of the original forecasts.
End of document
