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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 August 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-
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Information furnished on this form:
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August 5, 2003
FOR IMMEDIATE RLEASE
To whom it may concern
Kubota and Matsushita Denko have reached a basic agreement
To integrate their businesses of roofing materials and siding materials
and jointly establish a company on equal terms
Kubota Corporation
Matsushita Electric Works, Ltd.
Kubota Corporation (Headquarters: Naniwa-ku, Osaka / President: Daisuke Hatakake)(hereinafter referred to as “ Kubota”) andMatsushita Electric Works, Ltd.(Headquarter: Kadoma-shi, Osaka / President: Kazushige Nishida)(hereinafter “Matsushita Denko”) have reached a basic agreement to jointly establish a company on December 1, 2003, integrating their businesses of roofing materials and siding materials. At their board of directors meetings held today Kubota and Matsushita Denko resolved to authorize the basic agreement.
[Outline of Basic Agreement]
Both Kubota and Matsushita Denko will integrate their business operations of roofing materials and siding materials into a jointly established company. The objective of the business integration is to establish a leading company of their exterior building materials businesses highly valued from customers, suppliers, and employees. This will be achieved through combining Kubota’s and Matsushita Denko’s strengths in their business resources including employees and technologies, and thereby improving management efficiency and productivity, and creating new value by developments of new products and technologies.
Contents of basic agreement are as follows:
1. Both Kubota and Matsushita Denko will integrate their business operations of roofing materials and siding materials including manufacturing, sales, research and development and administration, and jointly establish the new company on December 1, 2003.
2. Both companies will equally hold 50% ownership share respectively in the new company.
3. Regarding the method of the business integration, Kubota will divide its business of roofing materials and siding materials, and Matsushita Denko will divide its sales and research and development operations related to roofing and siding materials within the division company of building products. Both of the Kubota’s and Matsushita Denko’s divided businesses will be integrated into Matsushita Electric Works Exterior Furnishing Co., Ltd. (Divided from Matsushita Denko on June 1, 2002, and a wholly owned subsidiary of Matsushita Denko).
4. The new company will make efficient use of both companies’ strengths, and will be operated under customer oriented and independent and autonomous management, and will expand businesses and aim to list its stock on a national stock exchange.
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[Background of the basic agreement]
1. | Current market conditions and tasks ahead |
(1) | The market of exterior building materials is in a conditions of oversupply for a long time period, while the new construction market is shrinking due to the continuously declining numbers of new housing starts, and the related industry as a whole is in a situation of over-capacity. |
(2) | Although the housing reform market is expected to grow, the market demand for the replacement of roofing materials and siding materials is still in an early stage of a development cycle. |
(3) | However, exterior building materials will remain as main products of housing markets in the future. Therefore, in order to keep expanding the business operation of exterior building materials, key requirement is to introduce new products with additional various functions into the markets with increasing needs for comfortable living. |
2. | Progress and subjects |
(1) | Both Kubota and Matsushita Denko have been working hard for developing new products, exploiting new customers and markets, rationalizing various operations, and reforming business structures, and have achieved suitable results of their business improvements. |
(2) | However, in case of aiming to expand the business operations successfully in the future, additional new investments for product development and capital expenditures are required, and such investments become the significant burden on managing the business operations. |
(3) | Establishing solid business foundations at early stage is required to be able to respond changing markets needs quickly and adequately. Furthermore, in order to revitalize and expand the business operations, both Kubota and Matsushita Denko have recognized that the independent effort is not sufficient, and that cooperation of both companies is an important management option. |
Kubota and Matsushita Denko, with the aforementioned common recognition, hold series of discussions onreinforcement and development of exterior building material business operations by means of integration and reorganization, and reached the basic agreement today.
Kubota and Matsushita Denko will apply for an approval under the Law on Special Measures for Industrial Revitalization, and intend to take advantage of such special measures of the law.
[Tasks of the new company]
1. Reinforcement of manufacturing capability
(1) | Improving utilization rates and productivity by means of consolidating plants and equipment. |
( including the disposition of manufacturing equipment with excess capacity)
(2) | Combining both companies’ manufacturing strengths and establishing optimal manufacturing bases. |
2. Reinforcement of sales capability
(1) | Optimal deployment of sales forces. |
(2) | Consolidating existing sales offices and establishing new sales offices. |
3. | Reinforcement of technology development capability |
(1) | Combining and complimenting both Kubota’s and Matsushita Denko’s unique material and manufacturing technologies, and reinforcing new product development. |
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4. | Reforming through rationalization and efficiency improvement |
(1) | Consolidation and selection of product lines and items |
(2) | Reforming systems for procurements of raw materials and innovating systems of logistics and distributions |
(3) | Consolidating administrative functions |
[Hereafter]
Having shared the goal to establish the integrated business operations on December 1, 2003, both Kubota and Matsushita Denko will continue to hold the full-scale discussions on managing the new company.
[Reference]
Sale trends of exterior building materials (non-consolidated basis)
Billions of yen
Year ended March 2001 | Year ended March 2002 | Year ended March 2003 | ||||
Kubota | 42.5 | 41.9 | 41.0 | |||
Year ended Nov. 2000 | Year ended Nov. 2001 | Year ended Nov. 2002 | ||||
Matsushita Denko | 60.6 | 57.2 | 49.1 |
Plants for exterior building materials
Plant | Location | Product line | ||||
Kubota | Shiga | Koga-gun, Shiga-ken | Roofing | |||
Odawara | Odawara-shi, Kanagawa-ken | Roofing | ||||
Ohama | Sakai-shi, Osaka-fu | Siding | ||||
Kashima | Kashima-gun, Ibaraki-ken | Siding | ||||
Matsushita Electric Works Exterior Furnishing Co., Ltd. (1) | Head office | Ueno-shi, Mie-ken | Roofing Siding | |||
Ashikaga | Ashikaga-shi, Tochigi-ken | Roofing Siding | ||||
Kitakyushu | Kitakyushu-shi Fukuoka-ken | Siding |
(1) | Matsushita Electric Works Exterior Furnishing Co., Ltd.is a wholly owned subsidiary of Matsushita Denko. |
[Contacts]
Kubota:Public Relations Office /TEL +81-6-6648-2389
Tokyo Secretary & Public Relations Department/TEL +81-3-3245-3050
Matsushita Denko: Public Relations Department (Osaka)/TEL +81-6-6909-7187
Public Relations Department (Tokyo)/TEL +81-3-6218-1166
End of document
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Annex: Basic information: Kubota, Matsushita Denko, and Matsushita Gaiso Denko (non-consolidated basis)
Kubota (as of March 31, 2003) | Matsushita Denko (as of Nov. 30, 2002) | Matsushita Denko Gaiso (as of Nov. 30, 2002) | ||||
Trade Name | Kubota Corporation | Matsushita Electric Works, Ltd. | Matsushita Electric Works Exterior Furnishing Co., LTD. | |||
Principal Line of Business | Manufacture and sale of farm machinery, Construction machinery, engines, pipes, pumps, environmental control plants, building materials, and related works and services of the above products. | Manufacture and sale of lighting products, information equipment, home appliance, building products, electronic and plastic materials, and automation control, and related works and service of the above products | Manufacture and sale of building materials and housing related products | |||
Date of Foundation | February, 1890 | December,1935 | February, 1972 | |||
Principal Office | Naniwa-ku, Osaka-shi | Kadoma-shi, Osaka-fu | Ueno-shi, Mie-ken | |||
Representative | President Daisuke Hatakake | President Kazushige Nishida | President Osamu Hakamada | |||
Capital Stock (billion yen) | 78.2 | 138.3 | 4.0 | |||
Net sales (billion yen) | 672.4 | 859.3 | 49.1 | |||
Share Issued | 1,409,808,978. | 733,211,014. | 5,200,000. | |||
Shareholders’ Equity (billion yen) | 329.1 | 518.1 | 4.7 | |||
Total Assets (billion yen) | 858.9 | 911.0 | 34.8 | |||
Annual Financial Closing Date | March, 31 | November, 30 | November, 30 | |||
Number of Employee | 12,451. | 15,302 | 1,018 | |||
Major Business Accounts | Marubeni Corp. National Federation of Agricultural Associations, Denso Corp. and other. | Matsushita Electric Industrial Co., Ltd. and other. | Matsushita Denko and other. | |||
Major shareholders And Shareholdings (%) | Nippon Life Insurance Company (8.3), Japan Trustee Service Bank, Ltd. (7.2), Mizuho Trust and Banking Co., Ltd. (Trust a/c) (5.2), The Meiji Mutual Life Insurance Company (5.1), The Master Trust Bank of Japan, Ltd. (4.1) | Matsushita Electric Industrial Co., Ltd. (31.8) Japan Trustee Service Bank, Ltd. (3.3), Nippon Life Insurance Company (3.1) Sumitomo Mitsui Banking Corporation (2.9) Resona Bank, Ltd. (2.9) | Matsushita Denko (100) | |||
Major Banks | Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation | Sumitomo Mitsui Banking Corporation, Resona Bank, Ltd. | Mie Bank, Ltd., Resona Bank, Ltd., Ashikaga bank, Ltd. | |||
Relationships between Kubota and Matsushita Denko | Capital: None Personnel: None Transactions: None |
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Contact: IR Group Kubota Corporation 2-47, Shikitsuhigashi 1-chome, Naniwa-ku, Osaka 556-8601, Japan Phone : +81-6-6648-2645 Facsimile: +81-6-6648-2642 |
FOR IMMEDIATE RELEASE (THURSDAY, AUGUST 7, 2003)
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
JUNE 30, 2003 REPORTED BY KUBOTA CORPORATION
OSAKA, JAPAN, August 7, 2003—Kubota Corporation reported today its consolidated results of operations for the three months ended June 30, 2003.
Consolidated Financial Highlights
(1) Results of operations | (In millions of yen and thousands of U.S. dollars except per American Depositary Share (“ADS”) amounts) |
Three months ended June 30, 2003 | % (*) | Three months ended June 30, 2003 | % (*) | Year ended March 31, 2003 | ||||||||||||
Net sales | ¥ $ | 185,187 [1,543,225 |
] | (0.1 | ) | ¥ | 185,430 | — | ¥ | 926,145 | ||||||
Operating income | ¥ $ | 9,278 [77,317 |
] | (34.9 | ) | ¥ | 14,242 | — | ¥ | 29,613 | ||||||
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies | ¥ $ | 11,528 [96,067 |
] | (7.5 | ) | ¥ | 12,461 | — | ¥ | 6,156 | ||||||
Net income | ¥ $ | 3,542 [29,517 | ] | (36.1 | ) | ¥ | 5,546 | — | ¥ | (8,004 | ) | |||||
Net income per ADS (five common shares) | ||||||||||||||||
Basic | ¥ | 13 | ¥ | 20 | ¥ | (29 | ) | |||||||||
$ | [0.11 | ] | ||||||||||||||
Diluted | ¥ | 13 | ¥ | 19 | ¥ | (29 | ) | |||||||||
$ | [0.11 | ] |
Notes. 1: | (*) represents percentage change from the comparable previous period. | |
2: | The United States dollar amounts included herein represent translations using the approximate exchange rate on June 30, 2003, of ¥120 = US$1, solely for convenience. |
(2) | Anticipated results of operations for the six months ending September 30, 2003, and the year ending March 31, 2004 |
(In millions of yen)
Six months ending (Revised) | Year ending (Not revised) | |||||
Net sales | ¥ | 430,000 | ¥ | 910,000 | ||
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies | ¥ | 17,000 | ¥ | 10,000 | ||
Net income | ¥ | 6,500 | ¥ | 5,000 |
Basic net income per ADS for the year ending March 31, 2004 is anticipated to be ¥19.
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Kubota Corporation
and Subsidiaries
1. Review of Operations and Financial Condition
During the three months under review, net sales were ¥185.2 billion, a decrease of ¥0.2 billion (0.1 %) from the prior period. Sales in Internal Combustion Engines and Machinery, the leading segment increased by ¥6.9 billion (6.2 %) mainly due to strong sales of tractors in the U.S.A. Sales in Pipes, Valves, and Industrial Castings also increased by ¥1.7 billion (5.8 %) principally due to the expanded export sales of ductile iron pipes to Middle East countries. In addition, sales in Building Materials and Housing increased by ¥0.3 billion (1.9 %) mainly due to sales of condominiums. On the other hand, sales in Environmental Engineering declined by ¥5.5 billion (38.7 %), because sales of large orders were not recorded during the period under review. Sales in the Other segment also decreased by ¥3.7 billion (22.3 %), affected by the sale of our leasing subsidiary at the beginning of the period under review. Accordingly, total net sales during the three months under review decreased slightly from the prior period. (See page 4, “Consolidated Net Sales by Product Group”.)
Operating income decreased ¥5.0 billion (34.9%) to ¥9.3 billion. Although sales in Internal Combustion Engines and Machinery segment increased, a cost reduction program was implemented and a gain was recorded from the sale of our leasing subsidiary, because of the significant increase of pension cost of ¥8.6 billion from the prior period, which was caused mainly by the immediate recognition of unrecognized actuarial losses (*), operating income declined from the prior period.
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of affiliated companies fell ¥0.9 billion (7.5%) to ¥11.5 billion due mainly to the decrease in foreign exchange losses of ¥5.0 billion. As a result, net income during the three months under review was ¥3.5 billion, a decrease of ¥2.0 billion (36.1%) from the prior period.
(*) Pension accounting adopted by the Company:
In order to solve quickly the issue of the unrecognized actuarial loss of the plan fund’s status, the Company recognizes immediately actuarial losses in excess of 20% of the benefit obligation, and amortizes actuarial losses between 10% to 20% over the average participants’ remaining service period (about 15 years). The Company forecasts the expenses of actuarial losses will increase by approximately ¥46.4 billion to ¥52.0 billion during the year ending March 31, 2004, compared to the expenses of ¥5.6 billion during the prior year.
2. Prospect for the Fiscal Year
Looking ahead, the Company revised forecasts of consolidated net sales for the six months ending September 30, 2003 to ¥430.0 billion, an increase of ¥10.0 billion compared with the forecast on May 22, 2003 of ¥420.0 billion. This increase reflects the favorable sales in Internal Combustion Engines and Machinery, and recording sales of several projects in Environmental Engineering during the first half of the year, which were originally scheduled to be recorded during the second half of year.
Income before income taxes, minority interests in earnings of subsidiaries, and equity in net income of
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Kubota Corporation
and Subsidiaries
affiliated companies are expected to increase by ¥10.0 billion, to ¥17.0 billion. This is principally due to the gains from the sale of our leasing subsidiary, and gains on sales of investment securities, foreign exchange gains as well as the increasing net sales mentioned above. Accordingly net income during the six months ending September 30, 2003 is expected to be ¥6.5 billion, an increase of ¥3.5 billion.
The forecasts of the results for the year ending March 31, 2004 are unchanged. Under the favorable situations of increasing sales and net income during the six months ending September 30, 2003, the results of the year ending March 31, 2004 are expected to improve. However, the business environment through the whole year remains unclear, and there is a possibility of one-time charges resulting from a reorganization of the building materials business. As a result, the Company decided not to revise the original forecasts of the results for the year ending March 31, 2004.
Forecast of the results of the parent company only:
As for the results for the six months ending September 30, 2003, the Company also revised the forecasts of the results of the parent company based on the same future outlook as in the aforementioned consolidated basis, and the revised forecasts are as follows : sales ¥295.0 billion, an increase of ¥10.5 billion compared with the forecast on May 22, 2003, ordinary income ¥12.0 billion, an increase of ¥6.0, and net income ¥7.0 billion, an increase of ¥2.0 billion. The forecasts of the results for the year ending March 31, 2004 are also unchanged for the same reason as in the consolidated basis.
(Cautionary Statements with Respect to Forward-Looking Statements)
Projected results of operations and other future forecasts contained in this report are the estimates of the Company based on information available to the Company as of this published date. Therefore, those projections include certain potential risks and uncertainties. Accordingly, the users of this information are requested to note that the actual results could differ materially from those future projections. Major factors that could influence the ultimate outcome include the economic condition surrounding the Company, foreign exchange rates, agricultural policy in Japan, the trend of public investment and private capital expenditure in Japan, the price-competitive pressure in the market, the ability for the Company to manufacture or innovate the products which will be accepted in the market. And the user of the information should be aware that factors that could influence the ultimate outcome of the Company are not limited to the factors above.
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Kubota Corporation
and Subsidiares
Consolidated Net Sales by Product Group
(In millions of yen)
Three months ended June 30, 2003 | Three months ended June 30, 2002 | Change | Year ended March 31, 2003 | |||||||||||||||
Amount | % | Amount | % | Amount | % | Amount | % | |||||||||||
Farm Equipment and Engines | 107,779 | 58.2 | 100,787 | 54.4 | 6,992 | 6.9 | 399,368 | 43.1 | ||||||||||
Domestic | 46,901 | 25.3 | 48,306 | 26.1 | (1,405 | ) | (2.9 | ) | 204,186 | 22.0 | ||||||||
Overseas | 60,878 | 32.9 | 52,481 | 28.3 | 8,397 | 16.0 | 195,182 | 21.1 | ||||||||||
Construction Machinery | 10,505 | 5.7 | 10,570 | 5.7 | (65 | ) | (0.6 | ) | 44,801 | 4.9 | ||||||||
Domestic | 4,230 | 2.3 | 4,397 | 2.3 | (167 | ) | (3.8 | ) | 21,317 | 2.4 | ||||||||
Overseas | 6,275 | 3.4 | 6,173 | 3.4 | 102 | 1.7 | 23,484 | 2.5 | ||||||||||
Internal Combustion Engine & Machinery | 118,284 | 63.9 | 111,357 | 60.1 | 6,927 | 6.2 | 444,169 | 48.0 | ||||||||||
Domestic | 51,131 | 27.6 | 52,703 | 28.4 | (1,572 | ) | (3.0 | ) | 225,503 | 24.4 | ||||||||
Overseas | 67,153 | 36.3 | 58,654 | 31.7 | 8,499 | 14.5 | 218,666 | 23.6 | ||||||||||
Pipes and Valves | 24,575 | 13.2 | 23,322 | 12.6 | 1,253 | 5.4 | 145,561 | 15.7 | ||||||||||
Domestic | 21,200 | 11.4 | 22,486 | 12.1 | (1,286 | ) | (5.7 | ) | 135,480 | 14.6 | ||||||||
Overseas | 3,375 | 1.8 | 836 | 0.5 | 2,539 | 303.7 | 10,081 | 1.1 | ||||||||||
Industrial Castings | 6,231 | 3.4 | 5,789 | 3.1 | 442 | 7.6 | 31,656 | 3.4 | ||||||||||
Domestic | 3,888 | 2.1 | 3,810 | 2.1 | 78 | 2.0 | 23,531 | 2.5 | ||||||||||
Overseas | 2,343 | 1.3 | 1,979 | 1.0 | 364 | 18.4 | 8,125 | 0.9 | ||||||||||
Pipes, Valves & Industrial Castings | 30,806 | 16.6 | 29,111 | 15.7 | 1,695 | 5.8 | 177,217 | 19.1 | ||||||||||
Domestic | 25,088 | 13.5 | 26,296 | 14.2 | (1,208 | ) | (4.6 | ) | 159,011 | 17.1 | ||||||||
Overseas | 5,718 | 3.1 | 2,815 | 1.5 | 2,903 | 103.1 | 18,206 | 2.0 | ||||||||||
Environmental Engineering | 8,706 | 4.7 | 14,191 | 7.6 | (5,485 | ) | (38.7 | ) | 136,381 | 14.7 | ||||||||
Domestic | 8,358 | 4.5 | 13,825 | 7.4 | (5,467 | ) | (39.5 | ) | 134,521 | 14.5 | ||||||||
Overseas | 348 | 0.2 | 366 | 0.2 | (18 | ) | (4.9 | ) | 1,860 | 0.2 | ||||||||
Building Materials | 13,264 | 7.1 | 14,068 | 7.6 | (804 | ) | (5.7 | ) | 57,352 | 6.2 | ||||||||
Domestic | 13,264 | 7.1 | 14,068 | 7.6 | (804 | ) | (5.7 | ) | 57,352 | 6.2 | ||||||||
Condominiums | 1,424 | 0.8 | 347 | 0.2 | 1,077 | 310.4 | 6,998 | 0.8 | ||||||||||
Domestic | 1,424 | 0.8 | 347 | 0.2 | 1,077 | 310.4 | 6,998 | 0.8 | ||||||||||
Building Materials & Housing | 14,688 | 7.9 | 14,415 | 7.8 | 273 | 1.9 | 64,350 | 7.0 | ||||||||||
Domestic | 14,688 | 7.9 | 14,415 | 7.8 | 273 | 1.9 | 64,350 | 7.0 | ||||||||||
Other | 12,703 | 6.9 | 16,356 | 8.8 | (3,653 | ) | (22.3 | ) | 104,028 | 11.2 | ||||||||
Domestic | 12,445 | 6.8 | 16,068 | 8.7 | (3,623 | ) | (22.5 | ) | 100,869 | 10.9 | ||||||||
Overseas | 258 | 0.1 | 288 | 0.1 | (30 | ) | (10.4 | ) | 3,159 | 0.3 | ||||||||
Total | 185,187 | 100.0 | 185,430 | 100.0 | (243 | ) | (0.1 | ) | 926,145 | 100.0 | ||||||||
Domestic | 111,710 | 60.3 | 123,307 | 66.5 | (11,597 | ) | (9.4 | ) | 684,254 | 73.9 | ||||||||
Overseas | 73,477 | 39.7 | 62,123 | 33.5 | 11,354 | 18.3 | 241,891 | 26.1 |
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August 13, 2003
To whom it may concern
Kubota Corporation
2-47, Shikitsu-higashi 1-chome,
Naniwa-ku, Osaka 556-8601, Japan
Contact: IR Group
Finance & Accounting Department
Phone: +81-6-6648-2645
Notice of Delisting from Nagoya, Fukuoka, and Sapporo Stock Exchanges
Please be advised that KUBOTA Corporation resolved at the board of directors’ meeting held on August 13, 2003 that KUBOTA Corporation would delist its common stock and convertible bonds from Nagoya, Fukuoka, and Sapporo Stock Exchanges. Details are as follows;
1. Reason for delisting
The common stock of the Company has been traded at five Stock Exchange in Japan (Tokyo, Osaka, Nagoya, Fukuoka and Sapporo), and the convertible bonds have been traded at three Stock Exchanges in Japan (Tokyo, Osaka and Nagoya).
However, in recent years, the trading volume of its common stock and convertible bonds at Nagoya, Fukuoka and Sapporo Stock Exchanges has been in a very low level. Therefore, the Company came to the conclusion that it would give almost no effect to our shareholders and investors to delist its common stock and convertible bonds from the three Stock Exchanges (Nagoya, Fukuoka and Sapporo).
2. The other Japanese Stock Exchanges the Company continues to list at
Tokyo Stock Exchange and Osaka Securities Exchange
3. The anticipated date of application for delisting
Monday, August 18, 2003
4. Future outlook
The common stock and convertible bonds are scheduled to be delisted from the above three Stock Exchanges about a month after preliminary arrangement (assigning to the liquidation post) succeeding the acceptance of the application for delisting.
End of document
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August 13, 2003
To whom it may concern
Kubota Corporation
2-47, Shikitsu-higashi 1-chome,
Naniwa-ku, Osaka 556-8601, Japan
Contact: IR Group
Finance & Accounting Department
Phone: +81-6-6648-2645
Notice with reference to purchase of treasury stock
Please be advised of the following on the purchase of treasury stock pursuant to Article 210 of the Commercial Code.
1. Term for acquisition : From July 16, 2003 to August 12, 2003
2. Total number of shares acquired : 0 shares
3. Total amount of shares acquired : ¥0
(Reference)
Results of purchase as of August 12, 2003
Number of Shares | Amount of shares | |||
What authorized on purchase of treasury stock at the ordinary general meeting of shareholders held on June 26, 2003 | Not exceeding 50 million shares | Not exceeding ¥20 billion | ||
Cumulative results of purchase from June 27, 2003 | 0 shares | ¥0 | ||
Ratio | 0.00% | 0.00% |
End of document
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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: September 1, 2003 | By: | /s/ Shigeru Kimura | ||||||||
Name: | Shigeru Kimura | |||||||||
Title: | General Manager | |||||||||
Finance & Accounting Department |