Kubota Corp. who are seeking an overseas purchase of as much as $2 billion, said the weakening yen will push sales to a record in the next fiscal year and won’t curb its acquisition appetite.
The boost to exports from the yen’s slide, combined with more demand from North America and Southeast Asia, will probably lift revenue by about 20 percent to 1.4 trillion yen ($14.6 billion) in the fiscal year starting April 1, President Yasuo Masumoto said March 11 in an interview in Tokyo. His target is 13 percent higher than the mean of 19 analyst estimates compiled by Bloomberg.
"The yen’s depreciation is driving up our top line,” Masumoto said. “We have high expectations on the impact from gains in the currency in the coming year,” he said.
