Table of Contents

 

 

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 February 2012

Commission File Number: 1-07294

 

 

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) :             

 

 

 

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Information furnished on this form:

EXHIBITS

Exhibit Number

 

1.	Results of operations for the nine months ended December 31, 2011 (Tuesday, February 7, 2012)

2.	Notice on the forecast of year-end dividend for the year ending March 31, 2012 (Tuesday, February 7, 2012)

3.	Notice of changes of management (Tuesday, February 7, 2012)

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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		: +81-6-6648-2632

FOR IMMEDIATE RELEASE (TUESDAY, FEBRUARY 7, 2012)

RESULTS OF OPERATIONS FOR THE NINE MONTHS ENDED

DECEMBER 31, 2011 REPORTED BY KUBOTA CORPORATION

OSAKA, JAPAN, February 7, 2012 — Kubota Corporation reported its consolidated results for the nine months ended December 31, 2011 today.

Consolidated Financial Highlights

1. Consolidated results of operations for the nine months ended December 31, 2011

 

(1) Results of operations		(In millions of yen except per common share amounts)
		Nine months ended Dec. 31, 2011				Change [%]				Nine months ended Dec. 31, 2010				Change [%]
Revenues		¥	730,562				7.4			¥	679,984				1.0
Operating income		¥	76,831				11.4			¥	68,951				32.7
Income before income taxes and equity in net income of affiliated companies		¥	71,984				(0.3	)		¥	72,212				36.1
Net income attributable to Kubota Corporation		¥	42,798				(2.9	)		¥	44,070				42.5
Net income attributable to Kubota Corporation per common share
Basic		¥	33.84							¥	34.65
Diluted			—								—

Notes :

1.

Change[%] represents percentage change from the corresponding period in the prior year.

2.

Comprehensive income for the nine months ended December 31, 2011 and 2010 were ¥23,730 million [(14.4%)] and ¥27,711 million [(41.7%)], respectively.

 

(2) Financial position		(In millions of yen)
		Dec. 31, 2011				Mar. 31, 2011
Total assets		¥	1,389,822			¥	1,356,852
Equity		¥	676,464			¥	681,361
Kubota Corporation shareholders’ equity		¥	629,061			¥	634,885
Ratio of Kubota Corporation shareholders’ equity to total assets			45.3	%			46.8	%

2. Cash dividends

 

		(In yen)
		Cash dividends per common share
		Interim				Year end				Total
Year ended March 31, 2011		¥	7.00			¥	7.00			¥	14.00
Year ending March 31, 2012		¥	7.00			¥	8.00			¥	15.00

 

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and Subsidiaries

 

3. Anticipated results of operations for the year ending March 31, 2012

 

		(In millions of yen except per common share amounts)
		Year ending         Mar. 31, 2012				Change [%]
Revenues		¥	1,000,000				7.1
Operating income		¥	100,000				16.1
Income before income taxes and equity in net income of affiliated companies		¥	100,000				9.5
Net income attributable to Kubota Corporation		¥	60,000				9.4
Net income attributable to Kubota Corporation per common share		¥	47.77

Note :

Change[%] represents percentage change from the corresponding period in the prior year.

4. Other information

 

(1)	Changes in material subsidiaries: No

 

(2)	Adoption of simplified accounting procedures or specific accounting procedures for consolidated quarterly financial statements: Yes

Please refer to “2. Other information” on page 6.

 

(3)	Accounting changes for consolidated financial statements

a)    Changes due to the revision of accounting standards: Yes

b)    Changes in matters other than a) above: No

Please refer to “2. Other information” on page 6.

 

(4)		Number of shares outstanding including treasury stock as of December 31, 2011			:				1,285,919,180
		Number of shares outstanding including treasury stock as of March 31, 2011			:				1,285,919,180
		Number of treasury stock as of December 31, 2011			:				29,988,221
		Number of treasury stock as of March 31, 2011			:				14,206,633
		Weighted average number of shares outstanding during the nine months ended December 31, 2011			:				1,264,696,208
		Weighted average number of shares outstanding during the nine months ended December 31, 2010			:				1,271,786,821

(*Information on status of the quarterly review by the independent auditor)

This release is not reviewed or audited in accordance with Financial Instruments and Exchange Law of Japan by the independent auditor because this release is not subject to the quarterly review. As of the date of this release, the Company’s consolidated financial statements for the nine months ended December 31, 2011 are under procedure of the quarterly review.

 

 

< Cautionary Statements with Respect to Forward-Looking Statements >

This document may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation: general economic conditions in the Company's markets, particularly government agricultural policies, levels of capital expenditures both in public and private sectors, foreign currency exchange rates, the occurrence of natural disasters, continued competitive pricing pressures in the marketplace, as well as the Company's ability to continue to gain acceptance of its products.

 

 

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and Subsidiaries

 

Index to Accompanying Materials

 

1.			Review of operations and financial condition						4
			(1	)		Summary of the results of operations for the nine months under review			4
			(2	)		Financial condition			5
			(3	)		Prospect for the year ending March. 31, 2012			5
2.			Other information						6
			(1	)		Changes in material subsidiaries			6
			(2	)		Adoption of simplified accounting procedures or specific accounting procedures for consolidated quarterly financial statements			6
			(3	)		Accounting changes for consolidated financial statements			6
3.			Consolidated financial statements						7
			(1	)		Consolidated balance sheets			7
			(2	)		Consolidated statements of income			8
			(3	)		Consolidated statements of comprehensive income			9
			(4	)		Consolidated statements of cash flows			10
			(5	)		Notes to assumption for going concern			10
			(6	)		Consolidated segment information			11
			(7	)		Consolidated statements of changes in equity			12
			(8	)		Consolidated revenues by reporting segment			13
			(9	)		Anticipated consolidated revenues by reporting segment			14
4.			The results of operations for the three months ended December. 31, 2011						15
			(1	)		Consolidated statements of income			15
			(2	)		Consolidated segment information			16
			(3	)		Consolidated revenues by reporting segment			17

 

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Kubota Corporation

and Subsidiaries

 

1. Review of operations and financial condition

(1)Summary of the results of operations for the nine months under review

For the nine months ended December 31, 2011, revenues of Kubota Corporation and subsidiaries (hereinafter, the “Company”) increased ¥50.6 billion [7.4 %], to ¥730.6 billion from the corresponding period in the prior year.

Domestic revenues increased ¥10.8 billion [3.2 %], to ¥351.9 billion. All reporting segments recorded increases in domestic revenues. Overseas revenues increased ¥39.8 billion [11.7 %], to ¥378.7 billion. Although revenues in Water & Environment Systems and Other decreased, revenues in Farm & Industrial Machinery increased substantially and revenues in Social Infrastructure increased.

Operating income increased ¥7.9 billion [11.4 %], to ¥76.8 billion from the corresponding period in the prior year. In spite of the impact of yen appreciation, increased revenues in Farm & Industrial Machinery, notably in overseas markets, and progression of company-wide cost reduction make a contribution to the increase in operating income. Income before income taxes and equity in net income of affiliated companies decreased ¥0.2 billion [0.3 %], to ¥72.0 billion. Income taxes were ¥27.4 billion [representing an effective tax rate of 38.1 %], and net income decreased ¥2.6 billion [5.2 %], to ¥46.7 billion. Net income attributable to Kubota Corporation decreased ¥1.3 billion [2.9 %], to ¥42.8 billion from the corresponding period in the prior year.

Revenues from external customers and operating income by each reporting segment are as follows.

1) Farm & Industrial Machinery

Farm & Industrial Machinery comprises farm equipment, engines and construction machinery.

Revenues in this segment increased 9.6 %, to ¥536.6 billion from the corresponding period in the prior year, comprising 73.5 % of consolidated revenues.

Domestic revenues increased 2.9 %, to ¥177.5 billion. Although the farm equipment markets remained sluggish due to the Great East Japan Earthquake and economic stagnation, sales of farm equipment were almost same level as the prior year owing to implementation of detailed promotional sales activity. Sales of construction machinery recorded substantial increase due to the recovery of the market.

Overseas revenues increased 13.2 %, to ¥359.1 billion. In North America, sales of tractors increased owing to aggressive sales promotion activities. In addition, sales of engines substantially increased due to market recovery and sales of construction machinery sharply increased due to an increase in demand and the effect of launching a new product. In Europe, sales of construction machinery and engines largely increased continuously. In Asia outside Japan, sales of tractors and construction machinery increased, while sales of combine harvesters decreased.

Operating income in Farm & Industrial Machinery increased 11.3 %, to ¥79.2 billion due to increased revenues and cost reduction.

2) Water & Environment Systems

Water & Environment Systems comprises pipe-related products (ductile iron pipes, plastic pipes, valves, and other products) and environment-related products (environmental plants, pumps and other products).

Revenues in this segment increased 0.2 %, to ¥126.8 billion from the corresponding period in the prior year, comprising 17.4 % of consolidated revenues.

Domestic revenues increased 2.7 %, to ¥119.2 billion. In pipe-related products, sales of ductile iron pipes increased, while sales of plastic pipes decreased. In environment-related products, sales of pumps and products related to water and sewage treatment increased. Overseas revenues decreased 27.8 %, to ¥7.6 billion. In pipe-related products, sales of ductile iron pipes and valves decreased largely. On the other hand, sales of pumps and submerged membrane systems in environment-related products increased.

Operating income in Water & Environment Systems increased 6.3 %, to ¥7.1 billion mainly due to an increase in domestic revenues and cost reduction.

 

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3) Social Infrastructure

Social Infrastructure comprises industrial castings, spiral welded steel pipes, vending machines, electronic equipped machinery and air-conditioning equipment.

Revenues in this segment increased 4.5 %, to ¥47.0 billion from the corresponding period in the prior year, comprising 6.4 % of consolidated revenues.

Domestic revenues increased 3.2 %, to ¥35.2 billion. Although sales of industrial castings and vending machines decreased, sales of spiral welded steel pipes, electronic equipped machinery and air-conditioning equipment increased. Overseas revenues increased 8.6 %, to ¥11.8 billion. Sales of industrial castings increased, while sales of spiral welded steel pipes and air-conditioning equipment decreased.

Operating income in Social Infrastructure decreased 7.5 %, to ¥2.3 billion due to intensification of competition.

4) Other

Other comprises construction, services and other businesses.

Revenues in this segment increased 7.3 %, to ¥20.1 billion from the corresponding period in the prior year, comprising 2.7 % of consolidated revenues.

Although sales of construction decreased, sales of services and other businesses increased.

Operating income in Other increased 27.2 %, to ¥1.5 billion.

(2) Financial condition

1) Assets, liabilities and equity

Total assets at the end of December 2011 amounted to ¥1,389.8 billion, an increase of ¥33.0 billion from the end of March 2011. As for assets, current assets increased largely centering on inventories.

As for liabilities, accounts payable increased substantially. Equity decreased slightly. Although retained earnings increased due to recorded net income, accumulated comprehensive loss deteriorated and treasury stock increased. Shareholders’ equity ratio was 45.3 %, 1.5 percentage points lower than the prior fiscal year end.

2) Cash flows

Net cash provided by operating activities during the nine months under review was ¥58.9 billion, a decrease of ¥8.1 billion of cash inflow from the corresponding period in the prior year. This decrease was due to a decrease in net income and changes in working capital.

Net cash used in investing activities was ¥46.2 billion, an increase of ¥12.6 billion of cash outflow from the corresponding period in the prior year. This increase was mainly due to a decrease in proceeds from sales and redemption of investments and an increase in finance receivables.

Net cash used in financing activities was ¥13.1 billion, a decrease of ¥23.8 billion of cash outflow from the corresponding period in the prior year. Although purchases of treasury stock and cash dividends increased, an increase in proceeds from issuance of long-term debt resulted in a decrease of cash outflow.

As a result, including the effect of exchange rate changes, cash and cash equivalents at the end of December 2011 was ¥103.3 billion, a decrease of ¥2.0 billion from the beginning of the period.

(3) Prospect for the year ending March 31, 2012

The forecasts of the anticipated results of operations for the year ending March 31, 2012, which were announced on June 20, 2011, remain unchanged.

The forecasts are based on the assumption of exchange rates of ¥80=US$1 and ¥111=1Euro, respectively.

 

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and Subsidiaries

 

2. Other information

(1) Changes in material subsidiaries

None

(2) Adoption of simplified accounting procedures or specific accounting procedures for consolidated quarterly financial statements

The provision for income taxes is computed by multiplying quarterly income before income taxes and equity in net income of affiliated companies by estimated annual effective tax rate.

(3) Accounting changes for consolidated financial statements

The Company adopted a new accounting standard related to revenue recognition for multiple-deliverable arrangements from April 1, 2011. This standard requires that arrangement consideration be allocated to all deliverables using a selling price or estimated selling price and eliminates the residual method of allocation. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

 

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and Subsidiaries

 

3. Consolidated financial statements

(1) Consolidated balance sheets

 

Assets		(In millions of yen)
		Dec. 31, 2011								Mar. 31, 2011								Change				Dec. 31, 2010
		Amount				%				Amount				%				Amount				Amount				%
Current assets:
Cash and cash equivalents			103,267								105,293								(2,026	)			106,126
Notes and accounts receivable			356,171								353,608								2,563				350,249
Short-term finance receivables-net			103,112								100,437								2,675				102,463
Inventories			203,359								174,217								29,142				193,494
Other current assets			61,933								43,649								18,284				59,442
Total current assets			827,842				59.6				777,204				57.3				50,638				811,774				58.2
Investments and long-term finance receivables			305,412				22.0				316,896				23.4				(11,484	)			323,760				23.2
Property, plant, and equipment			208,506				15.0				217,358				16.0				(8,852	)			215,428				15.4
Other assets			48,062				3.4				45,394				3.3				2,668				43,920				3.2
Total			1,389,822				100.0				1,356,852				100.0				32,970				1,394,882				100.0

 

Liabilities and Equity		(In millions of yen)
		Dec. 31, 2011								Mar. 31, 2011								Change				Dec. 31, 2010
		Amount				%				Amount				%				Amount				Amount				%
Current liabilities:
Short-term borrowings			75,759								76,642								(883	)			77,582
Notes and accounts payable			211,847								164,803								47,044				191,453
Other current liabilities			111,893								108,127								3,766				105,698
Current portion of long-term debt			64,879								85,556								(20,677	)			89,070
Total current liabilities			464,378				33.4				435,128				32.1				29,250				463,803				33.3
Long-term liabilities:
Long-term debt			209,986								191,760								18,226				198,665
Accrued retirement and pension costs			28,781								35,285								(6,504	)			33,676
Other long-term liabilities			10,213								13,318								(3,105	)			14,690
Total long-term liabilities			248,980				17.9				240,363				17.7				8,617				247,031				17.7
Equity:
Kubota Corporation shareholders’ equity:
Common stock			84,070								84,070								—				84,070
Capital surplus			88,462								89,140								(678	)			89,381
Legal reserve			19,539								19,539								—				19,539
Retained earnings			541,956								516,858								25,098				506,106
Accumulated other comprehensive loss			(85,616	)							(65,381	)							(20,235	)			(53,887	)
Treasury stock			(19,350	)							(9,341	)							(10,009	)			(9,332	)
Total Kubota Corporation shareholders’ equity			629,061				45.3				634,885				46.8				(5,824	)			635,877				45.6
Noncontrolling interests			47,403				3.4				46,476				3.4				927				48,171				3.4
Total equity			676,464				48.7				681,361				50.2				(4,897	)			684,048				49.0
Total			1,389,822				100.0				1,356,852				100.0				32,970				1,394,882				100.0

 

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(2) Consolidated statements of income

 

		(In millions of yen)
		Nine months ended Dec. 31, 2011								Nine months ended Dec. 31, 2010								Change								Year ended Mar. 31, 2011
		Amount				%				Amount				%				Amount				%				Amount				%
Revenues			730,562				100.0				679,984				100.0				50,578				7.4				933,685				100.0
Cost of revenues			531,309				72.7				490,345				72.1				40,964				8.4				678,653				72.7
Selling, general, and administrative expenses			121,050				16.6				120,125				17.7				925				0.8				165,407				17.7
Other operating expenses			1,372				0.2				563				0.1				809				143.7				3,514				0.4
Operating income			76,831				10.5				68,951				10.1				7,880				11.4				86,111				9.2
Other income (expenses):
Interest and dividend income			3,201								3,084								117								3,429
Interest expense			(1,071	)							(1,364	)							293								(1,632	)
Gain (loss) on sales of securities-net			(1	)							4,517								(4,518	)							4,845
Valuation loss on other investments			(1,491	)							(1,696	)							205								(1,758	)
Gain on nonmonetary exchange of securities			—								2,774								(2,774	)							2,774
Foreign exchange loss-net			(8,802	)							(2,908	)							(5,894	)							(1,640	)
Other-net			3,317								(1,146	)							4,463								(829	)
Other income (expenses), net			(4,847	)							3,261								(8,108	)							5,189
Income before income taxes and equity in net income of affiliated companies			71,984				9.9				72,212				10.6				(228	)			(0.3	)			91,300				9.8
Income taxes			27,403								24,202								3,201								30,684
Equity in net income of affiliated companies			2,073								1,226								847								492
Net income			46,654				6.4				49,236				7.2				(2,582	)			(5.2	)			61,108				6.5
Less: Net income attributable to noncontrolling interests			3,856								5,166								(1,310	)							6,286
Net income attributable to Kubota Corporation			42,798				5.9				44,070				6.5				(1,272	)			(2.9	)			54,822				5.9
Net income attributable to Kubota Corporation per common share
		(In yen)
Basic			33.84								34.65																43.11

 

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(3) Consolidated statements of comprehensive income

 

		(In millions of yen)
		Nine months ended Dec. 31, 2011				Nine months ended Dec. 31, 2010				Change
Net income			46,654				49,236				(2,582	)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments			(14,977	)			(18,742	)			3,765
Unrealized losses on securities			(8,447	)			(3,224	)			(5,223	)
Unrealized gains on derivatives			551				544				7
Pension liability adjustments			(51	)			(103	)			52
Other comprehensive loss			(22,924	)			(21,525	)			(1,399	)
Comprehensive income			23,730				27,711				(3,981	)
Less: Comprehensive income attributable to noncontrolling interests			1,123				3,037				(1,914	)
Comprehensive income attributable to Kubota Corporation			22,607				24,674				(2,067	)

 

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(4) Consolidated statements of cash flows

 

		(In millions of yen)
		Nine months ended Dec. 31, 2011				Nine months ended Dec. 31, 2010				Change
Operating activities:
Net income			46,654				49,236
Depreciation and amortization			17,299				19,989
(Gain) loss on sales of securities-net			1				(4,517	)
Valuation loss on other investments			1,491				1,696
Gain on nonmonetary exchange of securities			—				(2,774	)
Equity in net income of affiliated companies			(2,073	)			(1,226	)
Deferred income taxes			5,545				8,472
(Increase) decrease in notes and accounts receivable			(9,073	)			13,688
Increase in inventories			(35,827	)			(29,596	)
Increase in other current assets			(15,603	)			(7,521	)
Increase in trade notes and accounts payable			49,122				35,353
Increase (decrease) in income taxes payable			3,713				(16,471	)
Increase in other current liabilities			1,362				4,289
Decrease in accrued retirement and pension costs			(6,537	)			(6,725	)
Other			2,796				3,056
Net cash provided by operating activities			58,870				66,949				(8,079	)
Investing activities:
Purchases of fixed assets			(15,193	)			(18,500	)
Proceeds from sales of property, plant, and equipment			204				604
Proceeds from sales and redemption of investments			51				5,676
Increase in finance receivables			(135,759	)			(130,656	)
Collection of finance receivables			108,810				107,695
Net increase in short-term loan receivables from affiliated companies			(2,990	)			—
Net (increase) decrease in time deposits			(3	)			2,254
Other			(1,367	)			(750	)
Net cash used in investing activities			(46,247	)			(33,677	)			(12,570	)
Financing activities:
Proceeds from issuance of long-term debt			80,809				46,819
Repayments of long-term debt			(69,928	)			(75,366	)
Net increase in short-term borrowings			4,900				6,943
Cash dividends			(17,700	)			(15,267	)
Purchases of treasury stock			(10,010	)			(42	)
Other			(1,126	)			92
Net cash used in financing activities			(13,055	)			(36,821	)			23,766
Effect of exchange rate changes on cash and cash equivalents			(1,594	)			(1,753	)			159
Net decrease in cash and cash equivalents			(2,026	)			(5,302	)
Cash and cash equivalents at beginning of period			105,293				111,428
Cash and cash equivalents at end of period			103,267				106,126				(2,859	)

(5) Notes to assumption for going concern

None

 

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(6) Consolidated segment information

1) Reporting segments

 

Nine months ended December 31, 2011		(In millions of yen)
		Farm & Industrial Machinery				Water & Environment Systems				Social Infrastructure				Other				Adjustments				Consolidated
Revenues
External customers			536,637				126,791				47,013				20,121				—				730,562
Intersegment			41				583				2,227				14,129				(16,980	)			—
Total			536,678				127,374				49,240				34,250				(16,980	)			730,562
Operating income			79,150				7,071				2,267				1,534				(13,191	)			76,831
Nine months ended December 31, 2010		(In millions of yen)
		Farm & Industrial Machinery				Water & Environment Systems				Social Infrastructure				Other				Adjustments				Consolidated
Revenues
External customers			489,676				126,575				44,981				18,752				—				679,984
Intersegment			44				605				1,970				10,046				(12,665	)			—
Total			489,720				127,180				46,951				28,798				(12,665	)			679,984
Operating income			71,084				6,653				2,452				1,206				(12,444	)			68,951

Notes:

1. The amounts in “Adjustments” include the eliminations of intersegment transactions and the unallocated corporate expenses.

2. The aggregated amounts of operating income equal to those in the consolidated statements of income, and please refer to the consolidated statements of income for the reconciliation of operating income to income before income taxes and equity in net income of affiliated companies.

3. Intersegment revenues are recorded at arm’s length prices.

2) Geographic segments

 

Information for revenues from external customers by destination		(In millions of yen)
		Nine months ended Dec. 31, 2011				Nine months ended Dec. 31, 2010
Japan			351,865				341,093
North America			161,667				135,793
Europe			68,892				57,755
Asia Outside Japan			125,147				121,401
Other Areas			22,991				23,942
Total			730,562				679,984

Notes:

1. Revenues from North America include those from the United States of ¥138,620 million and ¥115,368 million for the nine months ended December 31, 2011 and 2010, respectively.

2. There is no single customer, revenues from whom exceed 10% of total consolidated revenues of the Company.

 

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Kubota Corporation

and Subsidiaries

 

(7) Consolidated statements of changes in equity

 

		(In millions of yen)
		Shares of common stock outstanding (thousands)				Kubota Corporation shareholders’ equity																								Non- controlling interests				Total equity
						Common stock				Capital surplus				Legal reserve				Retained earnings				Accumulated other comprehensive loss				Treasury stock
Balance at March 31, 2011			1,271,713				84,070				89,140				19,539				516,858				(65,381	)			(9,341	)			46,476				681,361
Net income																			42,798												3,856				46,654
Other comprehensive loss																							(20,191	)							(2,733	)			(22,924	)
Cash dividends paid to Kubota Corporation shareholders, ¥14 per common share																			(17,700	)															(17,700	)
Cash dividends paid to noncontrolling interests																															(294	)			(294	)
Purchases and sales of treasury stock			(15,782	)																							(10,009	)							(10,009	)
Increase in noncontrolling interests related to contribution																															73				73
Changes in ownership interests in subsidiaries											(678	)											(44	)							25				(697	)
Balance at December 31, 2011			1,255,931				84,070				88,462				19,539				541,956				(85,616	)			(19,350	)			47,403				676,464

 

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Kubota Corporation

and Subsidiaries

 

(8) Consolidated revenues by reporting segment

 

		(In millions of yen)
		Nine months ended Dec. 31, 2011								Nine months ended Dec. 31, 2010								Change								Year ended Mar. 31, 2011
		Amount				%				Amount				%				Amount				%				Amount				%
Farm Equipment and Engines			461,772				63.2				435,407				64.0				26,365				6.1				580,671				62.2
Domestic			157,139								157,432								(293	)			(0.2	)			205,676
Overseas			304,633								277,975								26,658				9.6				374,995
Construction Machinery			74,865				10.3				54,269				8.0				20,596				38.0				70,847				7.6
Domestic			20,389								15,079								5,310				35.2				20,710
Overseas			54,476								39,190								15,286				39.0				50,137
Farm & Industrial Machinery			536,637				73.5				489,676				72.0				46,961				9.6				651,518				69.8
Domestic			177,528				24.3				172,511				25.4				5,017				2.9				226,386				24.3
Overseas			359,109				49.2				317,165				46.6				41,944				13.2				425,132				45.5
Pipe-Related Products			87,429				12.0				91,127				13.4				(3,698	)			(4.1	)			121,836				13.0
Domestic			84,587								84,270								317				0.4				113,584
Overseas			2,842								6,857								(4,015	)			(58.6	)			8,252
Environment-Related Products			39,362				5.4				35,448				5.2				3,914				11.0				70,932				7.6
Domestic			34,647								31,833								2,814				8.8				65,090
Overseas			4,715								3,615								1,100				30.4				5,842
Water & Environment Systems			126,791				17.4				126,575				18.6				216				0.2				192,768				20.6
Domestic			119,234				16.4				116,103				17.1				3,131				2.7				178,674				19.1
Overseas			7,557				1.0				10,472				1.5				(2,915	)			(27.8	)			14,094				1.5
Social Infrastructure			47,013				6.4				44,981				6.6				2,032				4.5				60,439				6.5
Domestic			35,187				4.8				34,088				5.0				1,099				3.2				44,278				4.8
Overseas			11,826				1.6				10,893				1.6				933				8.6				16,161				1.7
Other			20,121				2.7				18,752				2.8				1,369				7.3				28,960				3.1
Domestic			19,916				2.7				18,391				2.7				1,525				8.3				28,575				3.0
Overseas			205				0.0				361				0.1				(156	)			(43.2	)			385				0.1
Total			730,562				100.0				679,984				100.0				50,578				7.4				933,685				100.0
Domestic			351,865				48.2				341,093				50.2				10,772				3.2				477,913				51.2
Overseas			378,697				51.8				338,891				49.8				39,806				11.7				455,772				48.8

 

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Kubota Corporation

and Subsidiaries

 

(9) Anticipated consolidated revenues by reporting segment

 

		(In billions of yen)
		Year ending Mar. 31, 2012								Year ended Mar. 31, 2011								Change
		Amount				%				Amount				%				Amount				%
Domestic			236.0								226.4								9.6				4.2
Overseas			467.0								425.1								41.9				9.8
Farm & Industrial Machinery			703.0				70.3				651.5				69.8				51.5				7.9
Domestic			187.0								178.7								8.3				4.7
Overseas			15.0								14.1								0.9				6.4
Water & Environment Systems			202.0				20.2				192.8				20.6				9.2				4.8
Domestic			48.0								44.3								3.7				8.4
Overseas			17.0								16.2								0.8				5.2
Social Infrastructure			65.0				6.5				60.4				6.5				4.6				7.5
Domestic			30.0								28.6								1.4				5.0
Overseas			—								0.4								(0.4	)			(100.0	)
Other			30.0				3.0				29.0				3.1				1.0				3.6
Total			1,000.0				100.0				933.7				100.0				66.3				7.1
Domestic			501.0				50.1				477.9				51.2				23.1				4.8
Overseas			499.0				49.9				455.8				48.8				43.2				9.5

 

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Kubota Corporation

and Subsidiaries

 

4. The results of operations for the three months ended December. 31, 2011

(1) Consolidated statements of income

 

		(In millions of yen)
		Three months ended Dec. 31, 2011								Three months ended Dec. 31, 2010								Change
		Amount				%				Amount				%				Amount				%
Revenues			248,849				100.0				230,938				100.0				17,911				7.8
Cost of revenues			180,201				72.4				164,950				71.4				15,251				9.2
Selling, general, and administrative expenses			40,823				16.4				40,066				17.3				757				1.9
Other operating expenses			243				0.1				140				0.1				103				73.6
Operating income			27,582				11.1				25,782				11.2				1,800				7.0
Other income (expenses):
Interest and dividend income			1,229								962								267
Interest expense			(300	)							(437	)							137
Gain (loss) on sales of securities-net			(1	)							4,372								(4,373	)
Valuation loss on other investments			(87	)							(1,688	)							1,601
Foreign exchange gain (loss) -net			(2,267	)							872								(3,139	)
Other-net			1,461								(692	)							2,153
Other income (expenses), net			35								3,389								(3,354	)
Income before income taxes and equity in net income of affiliated companies			27,617				11.1				29,171				12.6				(1,554	)			(5.3	)
Income taxes			10,754								9,499								1,255
Equity in net income of affiliated companies			893								696								197
Net income			17,756				7.1				20,368				8.8				(2,612	)			(12.8	)
Less: Net income attributable to noncontrolling interests			1,296								2,008								(712	)
Net income attributable to Kubota Corporation			16,460				6.6				18,360				8.0				(1,900	)			(10.3	)
Net income attributable to Kubota Corporation per common share
		(In yen)
Basic			13.11								14.44

 

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Kubota Corporation

and Subsidiaries

 

(2) Consolidated segment information

1) Reporting segments

 

Three months ended December 31, 2011		(In millions of yen)
		Farm & Industrial Machinery				Water & Environment Systems				Social Infrastructure				Other				Adjustments				Consolidated
Revenues
External customers			174,977				50,533				16,410				6,929				—				248,849
Intersegment			15				258				761				5,144				(6,178	)			—
Total			174,992				50,791				17,171				12,073				(6,178	)			248,849
Operating income			26,692				3,602				1,159				700				(4,571	)			27,582

 

Three months ended December 31, 2010		(In millions of yen)
		Farm & Industrial Machinery				Water & Environment Systems				Social Infrastructure				Other				Adjustments				Consolidated
Revenues
External customers			158,994				51,903				13,750				6,291				—				230,938
Intersegment			13				133				662				3,949				(4,757	)			—
Total			159,007				52,036				14,412				10,240				(4,757	)			230,938
Operating income			24,438				4,566				560				440				(4,222	)			25,782

Notes:

1. The amounts in “Adjustments” include the eliminations of intersegment transactions and the unallocated corporate expenses.

2. The aggregated amounts of operating income equal to those in the consolidated statements of income, and please refer to the consolidated statements of income for the reconciliation of operating income to income before income taxes and equity in net income of affiliated companies.

3. Intersegment revenues are recorded at arm's length prices.

2) Geographic segments

 

Information for revenues from external customers by destination		(In millions of yen)
		Three months ended Dec. 31, 2011				Three months ended Dec. 31, 2010
Japan			122,581				116,304
North America			59,609				53,576
Europe			20,733				15,666
Asia Outside Japan			38,445				36,393
Other Areas			7,481				8,999
Total			248,849				230,938

Notes:

1. Revenues from North America include those from the United States of ¥51,113 million and ¥47,421 million for the three months ended December 31, 2011 and 2010, respectively.

2. There is no single customer, revenues from whom exceed 10% of total consolidated revenues of the Company.

 

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Kubota Corporation

and Subsidiaries

 

(3) Consolidated revenues by reporting segment

 

		(In millions of yen)
		Three months ended Dec. 31, 2011								Three months ended Dec. 31, 2010								Change
		Amount				%				Amount				%				Amount				%
Farm Equipment and Engines			149,863				60.2				140,251				60.7				9,612				6.9
Domestic			46,832								45,033								1,799				4.0
Overseas			103,031								95,218								7,813				8.2
Construction Machinery			25,114				10.1				18,743				8.1				6,371				34.0
Domestic			9,012								6,482								2,530				39.0
Overseas			16,102								12,261								3,841				31.3
Farm & Industrial Machinery			174,977				70.3				158,994				68.8				15,983				10.1
Domestic			55,844				22.4				51,515				22.3				4,329				8.4
Overseas			119,133				47.9				107,479				46.5				11,654				10.8
Pipe-Related Products			35,455				14.2				37,728				16.3				(2,273	)			(6.0	)
Domestic			34,988								35,350								(362	)			(1.0	)
Overseas			467								2,378								(1,911	)			(80.4	)
Environment-Related Products			15,078				6.1				14,175				6.2				903				6.4
Domestic			12,750								12,391								359				2.9
Overseas			2,328								1,784								544				30.5
Water & Environment Systems			50,533				20.3				51,903				22.5				(1,370	)			(2.6	)
Domestic			47,738				19.2				47,741				20.7				(3	)			(0.0	)
Overseas			2,795				1.1				4,162				1.8				(1,367	)			(32.8	)
Social Infrastructure			16,410				6.6				13,750				6.0				2,660				19.3
Domestic			12,088				4.9				10,816				4.7				1,272				11.8
Overseas			4,322				1.7				2,934				1.3				1,388				47.3
Other			6,929				2.8				6,291				2.7				638				10.1
Domestic			6,911				2.8				6,232				2.7				679				10.9
Overseas			18				0.0				59				0.0				(41	)			(69.5	)
Total			248,849				100.0				230,938				100.0				17,911				7.8
Domestic			122,581				49.3				116,304				50.4				6,277				5.4
Overseas			126,268				50.7				114,634				49.6				11,634				10.1

 

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February 7, 2012

To whom it may concern

 

		Kubota Corporation
		2-47, Shikitsu-higashi 1-chome,
		Naniwa-ku, Osaka 556-8601, Japan
		Contact: IR Group
		Global Management Promotion Dept.
		Planning & Control Headquarters
		Phone: +81-6-6648-2645

Notice on the forecast of year-end dividend for the year ending March 31, 2012

Please be advised that Kubota Corporation (hereinafter “the Company”) forecasts the year-end dividend per common share for the year ending March 31, 2012 as follows:

 

		(per common share)
		Interim dividend		Year-end dividend		Annual dividend
This fiscal year ending March 31, 2012		¥7		¥8		¥15
		(paid)		(forecast)
Comparable previous year ended March 31, 2011		¥7		¥7		¥14

The Company believes returning profit to shareholders is its important mission and executes it through providing stable, sustainable cash dividends, and repurchase and retirement of its own shares.

Considering these policies of returning profit to shareholders and the Company’s current business performance, the Company intends to increase the year-end dividend per common share by ¥1 to ¥8 from previous year.

Accordingly, the annual dividends per common share for the year ending March 31, 2012 will increase ¥1 to ¥15, including the interim dividend of ¥7.

 

 

< Cautionary Statements with Respect to Forward-Looking Statements >

This document may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation: general economic conditions in the Company’s markets, particularly government agricultural policies, levels of capital expenditures both in public and private sectors, foreign currency exchange rates, the occurrence of natural disasters, continued competitive pricing pressures in the marketplace, as well as the Company’s ability to continue to gain acceptance of its products.

 

End of document

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February 7, 2012

To whom it may concern

 

		Kubota Corporation
		2-47, Shikitsu-higashi 1-chome,
		Naniwa-ku, Osaka 556-8601, Japan
		Contact: IR Group
		Global Management Promotion Dept.
		Planning & Control Headquarters
		Phone: +81-6-6648-2645

Notice of Changes of Management

Please be advised that the Board of Directors of Kubota Corporation (“the Company”) resolved at the Board of Directors’ Meeting held on February 7, 2012 to propose the following persons as candidates for the Board of Directors at the 122nd ordinary general meeting of shareholders to be held in late June 2012 and to change Executive Officers on April 1, 2012 as follows.

1) Candidates for the Board of Directors <Date of assuming office: late June 2012>

 

Name		Current responsibility
Yasuo Masumoto		Representative Director, Chairman, President & CEO
Tetsuji Tomita		Representative Director and Executive Vice President
Satoru Sakamoto		Director and Senior Managing Executive Officer
Masatoshi Kimata		Senior Managing Executive Officer (New nomination for Director)
Toshihiro Kubo		Director and Managing Executive Officer
Shigeru Kimura		Managing Executive Officer (New nomination for Director)
Yuzuru Mizuno		Director
Junichi Sato		Director

2) Retirement of Directors (Expiration of the term of office) <Date of retirement: late June 2012>

 

Name		After retirement
Takeshi Torigoe		Senior Managing Executive Officer
Masayoshi Kitaoka		Advisor

3) Candidates for new Executive Officers <Date of assuming office: April 1, 2012>

 

Name		Current responsibility
Hironobu Kubota		Dispatched and engaging in operation of Kubota Manufacturing of America Corp.
Junji Ogawa		General Manager of Coordination Dept. and Overseas Project Management Dept. in Water & Environment Systems Consolidated Division
Yasuo Nakata		General Manager of Machinery Quality Assurance Headquarters and International Quality Assurance Dept. in Machinery Quality Assurance Headquarters
Masato Yoshikawa		General Manager of Corporate Planning & Control Dept. in Planning & Control Headquarters

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4) Retirement of Executive Officers (Expiration of the term of office) <Date of retirement: March 31, 2012>

 

Name		After retirement
Masayoshi Kitaoka		Director
Eisaku Shinohara		Advisor (Date of assuming office: April 1, 2012)
Hideki Iwabu		President of Kubota Environmental Service Co., Ltd. (Date of assuming office: April 1, 2012)

5) Change of title of Executive Officer <Date of change: April 1, 2012>

 

Name		Current title		New title
Yujiro Kimura		Executive Officer		Managing Executive Officer

 

 

< Cautionary Statements with Respect to Forward-Looking Statements >

This document may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation: general economic conditions in the Company’s markets, particularly government agricultural policies, levels of capital expenditures, both in public and private sectors, foreign currency exchange rates, the occurrence of natural disasters, continued competitive pricing pressures in the marketplace, as well as the Company’s ability to continue to gain acceptance of its products.

 

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: February 7, 2012				By:		/s/ Yoshiyuki Fujita
				Name:		Yoshiyuki Fujita
				Title:		Executive Officer
						General Manager of
						Global Management Promotion Department