Edgar Filing: KUBOTA CORP

Form 6-K

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 May 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) :

Information furnished on this form:

EXHIBITS

Exhibit Number

1.	Results of operations for the year ended March 31, 2012 (Thursday, May 10, 2012)

2.	Notice on a distribution of retained earnings (Thursday, May 10, 2012)

3.	Basic policy regarding reduction of trading unit of the Company’s stock (Thursday, May 10, 2012)


		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 (THURSDAY, MAY 10, 2012)

RESULTS OF OPERATIONS FOR THE YEAR ENDED

MARCH 31, 2012 REPORTED BY KUBOTA CORPORATION

OSAKA, JAPAN, May 10, 2012 — Kubota Corporation reported today its consolidated results of operations for the year ended March 31, 2012.

Consolidated Financial Highlights

1. Consolidated Results of Operations for the Fiscal Year Ended March 31, 2012


(1) Results of operations	(In millions of yen except per common share amounts)
	Year ended March 31, 2012			Change [%]		Year ended March 31, 2011			Change [%]
Revenues	¥	1,008,019			8.0	¥	933,685			0.3
Operating income	¥	105,680			22.7	¥	86,111			23.5
% of revenues		10.5	%				9.2	%
Income before income taxes and equity in net income of affiliated companies	¥	100,938			10.6	¥	91,300			24.2
% of revenues		10.0	%				9.8	%
Net income attributable to Kubota Corporation	¥	61,552			12.3	¥	54,822			29.5
% of revenues		6.1	%				5.9	%
Net income attributable to Kubota Corporation per common share
Basic	¥	48.75				¥	43.11
Diluted		—					—
Ratio of net income attributable to Kubota Corporation to shareholders’ equity		9.6	%				8.7	%
Ratio of income before income taxes and equity in net income of affiliated companies to total assets		7.1	%				6.6	%

Notes.

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

Comprehensive income for the years ended March 31, 2012 and 2011 were ¥48,057 million [75.9%] and ¥27,325 million [(65.1%)], respectively.

Equity in net income of affiliated companies for the years ended March 31, 2012 and 2011 were ¥1,629 million and ¥492 million, respectively.


(2) Financial position	(In millions of yen except per common share amounts)
	March 31, 2012			March 31, 2011
Total assets	¥	1,487,669		¥	1,356,852
Equity	¥	707,214		¥	681,361
Kubota Corporation shareholders’ equity	¥	653,283		¥	634,885
Ratio of Kubota Corporation shareholders’ equity to total assets		43.9	%		46.8	%
Kubota Corporation shareholders’ equity per common share	¥	520.14		¥	499.24

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Kubota Corporation

and Subsidiaries


(3) Summary of statements of cash flows	(In millions of yen)
	Year ended March 31, 2012			Year ended March 31, 2011
Net cash provided by operating activities	¥	79,896		¥	81,907
Net cash used in investing activities	(¥	69,929	)	(¥	43,581	)
Net cash used in financing activities	(¥	13,264	)	(¥	41,715	)
Cash & cash equivalents, end of year	¥	100,559		¥	105,293

2. Cash dividends


	(In millions of yen except per common share amounts)
	Cash dividends per common share										Annual cash dividends		Annual cash dividends as % to net income			Annual dividends as % to share- holders’ equity
	First quarter period		Second quarter period		Third quarter period		Year-end		Total		Annual cash dividends		Annual cash dividends as % to net income			Annual dividends as % to share- holders’ equity
Year ended March 31, 2012		—	¥	7.00		—	¥	8.00	¥	15.00	¥	18,846		30.8	%		2.9	%
Year ended March 31, 2011		—	¥	7.00		—	¥	7.00	¥	14.00	¥	17,810		32.5	%		2.8	%

Note.

Although the Company’s basic policy for the return of profit to shareholders is to maintain stable dividends or raise dividends, specific amount of cash dividends for each fiscal year is decided in consideration of the development of business performance, financial conditions and payout ratio including share buybacks. Specific amount of cash dividends for the year ending March 31, 2013 is not decided at this time and the Company will inform the amount as soon as a decision is made.

3. Anticipated results of operations for the year ending March 31, 2013


	(In millions of yen except per common share amounts)
	Six months ending September 30, 2012		Change [%]		Year ending March 31, 2013		Change [%]
Revenues	¥	550,000		14.2	¥	1,150,000		14.1
Operating income	¥	50,000		1.5	¥	105,000		(0.6	)
Income before income taxes and equity in net income of affiliated companies	¥	50,000		12.7	¥	105,000		4.0
Net income attributable to Kubota Corporation	¥	30,000		13.9	¥	65,000		5.6
Net income attributable to Kubota Corporation per common share	¥	23.89			¥	51.75

Notes.

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

Please refer to page 6 for further information related to the above mentioned anticipated results of operations.

4. Other


(1)	Changes in material subsidiaries: None

(2)	Changes in accounting principles, procedures, and presentations for consolidated financial statements

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

	b) Changes in matters other than a) above: None

Please refer to “(7) Notes to consolidated financial statements” on page 15 for more detail.

(3)	Number of shares outstanding including treasury stock as of March 31, 2012	:	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 March 31, 2012	:	29,935,508
	Number of treasury stock as of March 31, 2011	:	14,206,633
	Weighted average number of shares outstanding during the year ended March 31, 2012	:	1,262,533,879
	Weighted average number of shares outstanding during the year ended March 31, 2011	:	1,271,778,025

Please refer to “(9) Per common share information” on page 18.

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Kubota Corporation

(Parent Company Only)

(Reference) Non-consolidated Financial Highlights


(1) Results of operations	(In millions of yen except per common share amounts)
	Year ended March 31, 2012		Change [%]		Year ended March 31, 2011		Change [%]
Net sales	¥	622,817		10.2	¥	565,073		4.6
Operating income	¥	35,200		22.3	¥	28,785		12.4
Ordinary income	¥	41,668		23.2	¥	33,811		(9.8	)
Net income	¥	29,709		44.9	¥	20,504		(30.0	)
Net income per common share
Basic	¥	23.52			¥	16.11
Diluted		—				—

Note.

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


(2) Financial position	(In millions of yen except per common share amounts)
	March 31, 2012			March 31, 2011
Total assets	¥	798,123		¥	719,217
Net assets	¥	438,860		¥	432,886
Equity	¥	438,860		¥	432,886
Ratio of equity to total assets		55.0	%		60.2	%
Net assets per common share	¥	349.30		¥	340.27

(*Information on status of the audit by the independent auditor)

This release has not been audited in accordance with Financial Instruments and Exchange Law of Japan by the independent auditor because this release is not subject to audit.

As of the date of this release, the Company’s consolidated financial statements for the year ended March 31, 2012 are under procedure of the audit.

< 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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Kubota Corporation

and Subsidiaries

Index to Accompanying Materials


1.	Review of operations and financial condition		5
	(1)	Review of operations	5
	(2)	Financial condition	7
2.	Management policies		8
	(1)	Basic management policy	8
	(2)	Principal business policies for medium-to-long term growth in profit	8
3.	Consolidated financial statements		10
	(1)	Consolidated balance sheets	10
	(2)	Consolidated statements of income	12
	(3)	Consolidated statements of comprehensive income	13
	(4)	Consolidated statements of changes in equity	13
	(5)	Consolidated statements of cash flows	14
	(6)	Notes to assumptions for going concern	15
	(7)	Notes to consolidated financial statements	15
	(8)	Consolidated segment information	16
	(9)	Per common share information	18
	(10)	Subsequent events	18
	(11)	Consolidated revenues by reporting segments	19
	(12)	Anticipated consolidated revenues by reporting segments	20
4.	The results of operations for the three months ended March 31, 2012		21
	(1)	Consolidated statements of income	21
	(2)	Consolidated segment information	22
	(3)	Consolidated revenues by reporting segments	23
5.	Other		24
	(1)	Notice of changes of management (Effective as of June 22, 2012)	24

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Kubota Corporation

and Subsidiaries

1. Review of operations and financial condition

(1) Review of operations

a)	Summary of the results of operations for the year under review

For the year ended March 31, 2012, revenues of the Company increased ¥74.3 billion (8.0%) from the prior year, to ¥1,008.0 billion.

In the domestic market, revenues increased ¥20.8 billion (4.3%) from the prior year, to ¥498.7 billion, due to increased revenues in all reporting segments. Domestic revenues in Farm & Industrial Machinery increased due to favorable sales of construction machinery and other products, and revenues in Water & Environment Systems increased due to steady sales of products related to public works. Revenues in Social Infrastructure and Other also rose, thus resulting in an overall increase in domestic revenues.

In overseas markets, revenues increased ¥53.6 billion (11.8%) from the prior year, to ¥509.3 billion. Revenues in Farm & Industrial Machinery posted a major increase due to steady demand in North America and Europe, and revenues in Social Infrastructure also increased. However, revenues in Water & Environment Systems and Other decreased. The ratio of overseas revenues to consolidated revenues was 50.5%, 1.7 percentage points higher than in the prior year.

Operating income increased ¥19.6 billion (22.7%) from the prior year, to ¥105.7 billion, due to an increase in overseas revenues in Farm & Industrial Machinery, company-wide cost reductions and gain on sales of land. Income before income taxes and equity in net income of affiliated companies was ¥100.9 billion, ¥9.6 billion (10.6%) higher than in the prior year, because of decreases in gain on sales of securities-net and gain on nonmonetary exchange of securities, which partly offset an increase in operating income. Income taxes were ¥36.5 billion, and equity in net income of affiliated companies was ¥1.6 billion. Accordingly, net income increased ¥4.9 billion (8.0%), to ¥66.0 billion. After deducting ¥4.5 billion of net income attributable to noncontrolling interests, net income attributable to Kubota Corporation was ¥61.6 billion, ¥6.7 billion (12.3%) higher than in the prior year.

b)	Review of operations by reporting segment

1)	Farm & Industrial Machinery

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

Revenues in this segment increased 9.6% from the prior year, to ¥713.9 billion and accounted for 70.8% of consolidated revenues.

Domestic revenues increased 4.0%, to ¥235.4 billion. Domestic sales of farm equipment were at almost the same level as in the prior year. Sales of farm equipment decreased in the area affected by the Great East Japan Earthquake, while they increased in other areas. On the other hand, sales of construction machinery substantially increased due to the market recovery. Sales of engines also increased steadily.

Overseas revenues increased 12.6%, to ¥478.5 billion. In North America, sales of tractors increased due to a gain in market share of the Company, and sales of construction machinery significantly increased owing to market recovery and the effect of launching new products. Sales of engines also increased steadily supported by firm demand. In Europe, sales of construction machinery and engines increased substantially due to an expansion of demand, while sales of tractors were at approximately the same level as the prior year. In Asia outside Japan, sales of farm equipment showed only slight increases, mainly due to the floods in Thailand.

Operating income in Farm & Industrial Machinery increased 13.1%, to ¥97.8 billion, due to increased overseas revenues and cost reduction.

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Kubota Corporation

and Subsidiaries

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 3.0%, to ¥198.5 billion from the prior year, and accounted for 19.7% of consolidated revenues.

Domestic revenues increased 3.3%, to ¥184.6 billion. Sales of environment-related products, such as waste water treatment equipment and plants increased. Sales of pipe-related products were at almost the same level as the prior year. Overseas revenues decreased 1.4%, to ¥13.9 billion.

Operating income in Water & Environment Systems increased 13.0%, to ¥14.8 billion, supported by steady domestic revenues.

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 7.2%, to ¥64.8 billion from the prior year, and accounted for 6.4% of consolidated revenues.

Domestic revenues increased 8.6%, to ¥48.1 billion. Although sales of spiral welded steel pipes, electronic equipped machinery and air-conditioning equipment increased, sales of industrial castings and vending machines decreased from the prior year. Overseas revenues increased 3.4%, to ¥16.7 billion, mainly owing to increased sales of industrial castings.

Operating income in Social Infrastructure increased 7.6%, to ¥2.7 billion, mainly due to increased revenues.

Other

Other comprises construction, services and other business.

Revenues in this segment increased 6.3%, to ¥30.8 billion from the prior year, and accounted for 3.1% of consolidated revenues. Sales of other business increased, while sales of construction decreased.

Operating income in Other increased 16.9%, to ¥2.5 billion.

c)	Prospects for the fiscal year ending March 31, 2013

The Company forecasts consolidated revenues for the year ending March 31, 2013 at ¥1,150.0 billion, ¥142.0 billion higher than during the year under review. Domestic revenues are forecast to increase due to increases in revenues in all reporting segments. Overseas revenues are forecast to increase substantially due to higher revenues in Farm & Industrial Machinery. Among revenues in this segment, revenues in Asia outside Japan will increase sharply and revenues in North America and Europe are also expected to increase.

The Company forecasts operating income of ¥105.0 billion, a decrease of ¥0.7 billion from the year under review. Although operating income is forecast to increase because of the rise in revenues, higher pension costs, a decrease in gain on sales of land and an increase in accrual of amortization related to acquired businesses are forecast to offset this increase in revenues. The Company expects income from continuing operations before income taxes and equity in net income of affiliated companies for the next fiscal year to be ¥105.0 billion, an increase of ¥4.1 billion from the year under review. Net income attributable to Kubota Corporation is forecast to be ¥65.0 billion, an increase of ¥3.4 billion from the year under review. (These forecasts are based on the assumption of exchange rates of ¥80=US$1 and ¥105=1 Euro.)

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Kubota Corporation

and Subsidiaries

(2) Financial condition

a)	Assets, liabilities and equity

Total assets at the end of March 2012 amounted to ¥1,487.7 billion, an increase of ¥130.8 billion from the prior fiscal year-end. As for assets, notes and accounts receivable, inventories and intangible assets increased due to higher revenues and acquisition of businesses.

Turning next to liabilities, current liabilities, such as trade accounts payable and income taxes payable, increased substantially.

Equity increased because recorded net income compensated for increases in treasury stock and accumulated other comprehensive loss deteriorated. The shareholders’ equity ratio was 43.9%, 2.9 percentage points lower than at the prior fiscal year-end.

b)	Cash flows

Net cash provided by operating activities during the year under review was ¥79.9 billion, representing a decrease of ¥2.0 billion in cash inflow compared with the prior year. Net cash provided by operating activities was at almost the same level as in the prior year, due to an increase in trade notes and accounts payable and an increase in income taxes payable, while notes and accounts receivable increased, mainly due to the rise in revenues.

Net cash used in investing activities was ¥69.9 billion, an increase of ¥26.3 billion in cash outflow compared with the prior year. This increase in cash outflow was mainly due to the acquisition of businesses, while proceeds from sales of property, plant and equipment (land) increased.

Net cash used in financing activities was ¥13.3 billion, representing a decrease of ¥28.5 billion in cash outflow compared with the prior year. This decrease was mainly due to an increase of proceeds from the issuance of long-term debt, while purchases of treasury stock increased.

Including the effect of exchange rate fluctuations, cash and cash equivalents at the end of March 31, 2012 were ¥100.6 billion, a decrease of ¥4.7 billion from the prior fiscal year-end.

(Reference) Cash flow indices


	Year ended March 31, 2012		Year ended March 31, 2011
Ratio of shareholders’ equity to total assets [%]		43.9		46.8
Equity ratio based on market capitalization [%]		67.1		73.5
Interest-bearing debt / Net cash provided by operating activities [year]		4.5		4.3
Interest coverage ratio [times]		16.9		11.8

Notes.

Equity ratio based on market capitalization : market capitalization / total assets

Interest coverage ratio : cash flows provided by operating activities / interest paid

Each ratio is calculated based on the figures in the consolidated financial statements. Market capitalization is calculated based on closing price at the end of the fiscal year multiplied by the number of shares outstanding at the end of fiscal year, excluding treasury stock. Net cash provided by operating activities is the amount in the consolidated statements of cash flows. Interest-bearing debt includes short-term borrowings, current portion of long-term debt, and long-term debt in the consolidated balance sheets. Additionally, interest paid is the amount of cash paid during the year for interest in the consolidated statements of cash flows.

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Kubota Corporation

and Subsidiaries

2. Management policies

(1) Basic management policy

For more than a century since its founding, the Company has continued to contribute to society through helping to improve people’s quality of life, by offering products and services—including farm equipment, pipes for water supply and sewage systems and environmental control plants.

And now, here in the 21st century, the Company is developing its business globally under the corporate principle “Contribute to social development and the conservation of the global environment through products, technology and services that support both comfortable lifestyles and the foundation of our societies” with the aim of solving the worldwide problems of food, water and the environment.

In the years to come, the Company will strive to attain an even higher enterprise value, through improvement of its capabilities for responding with flexibility to changes in society by emphasizing agility in its operations, strengthening its global operational presence, and relentlessly working to transform itself.

(2) Principal business policies for medium-to-long-term growth in profit

The Company is aiming to respond flexibly to severe changes in the corporate environment and become a “sustainable company” that can continue to develop sustainably for the long term. To realize this objective, the Company is strengthening the initiatives it has taken thus far of pursuing “management emphasizing the front-line of business, with focus on technology and manufacturing capabilities,” and “enhancing CSR management,” as it also implements the following policies.

1)	Growth and expansion of overseas business

The Company’s overseas business activities have generally continued to grow and expand steadily, despite some temporary slowdowns as a result of economic downturns. The expansion of overseas business is indispensable for the Company’s further development, and the expansion of business in the emerging markets is one of the highest-priority issues. The Company is currently establishing production sites for engines in Thailand and construction machinery in China with the aim of leveraging the output of these sites to substantially expand its business activities in China and the rest of Asia. In addition, outside the emerging countries, the Company is establishing a new tractor plant in North America, and, looking forward, the Company will continue to expand its overseas production to manufacture market-oriented products.

The Company is also working to establish regional business operating systems that will make it easy to achieve the effective use of resources at the regional level and plan and implement management measures and policies that are suited to local conditions. With the establishment of a regional management company in China last year as a first move in this direction, the Company will strive to upgrade and strengthen its regional management functions going forward.

2)	Formulation and implementation of long-term growth strategies in the fields of food, water and the environment

The Company is implementing a new growth strategy aimed at long-term business development, which is focused around the fields of food, water and the environment. In the field of food, the Company is accelerating its efforts to become a comprehensive manufacturer of agricultural machinery and is working to enter the production of large-scale agricultural machinery for dry-field farming. During the fiscal year under review, the Company moved forward with the adoption of large-scale machinery and acquired Kverneland ASA, a Norwegian manufacturer of agri-implements. Looking forward, the Company will accelerate its initiatives in this direction. On the other hand, in the fields of water and the environment, the Company has clearly defined its priority markets and is moving to secure new growth opportunities by formulating and implementing business strategies to strengthen its position in these markets. In Asia especially, where rapid growth is anticipated, the Company will aggressively expand its business activities, not only in China, which is a market the Company has already entered, but also in other countries in the region.

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Kubota Corporation

and Subsidiaries

3)	Implementation of structural reforms

As the Company works to grow and expand its overseas business, it will implement structural reforms related to its products and businesses in the domestic market, which is diminishing in size. In the domestic market, the Company will take measures to strength its position in fields where growth is possible. However, in those fields where shrinkage and decline will be unavoidable because of economic and social changes, the Company will make drastic structural reforms. By implementing thorough structural reforms, the Company will secure its performance in the medium-to-long term and reallocate its resources to growth fields.

4)	Organizational realignment for globalization of management and business expansion

To accelerate the globalization and expansion of its business activities from an organizational perspective, the Company implemented major organizational changes effective on April 1, 2012. These included eliminating its previous consolidated division system and realigning the 14 operating divisions that existed under the consolidated division system into 7 business divisions. The elimination of the consolidated division system is aimed at creating a flatter organizational structure that will facilitate rapid decision making and, thereby, strengthen the Company’s ability to respond to changes in the operating environment. The realignment of the operating divisions has the objectives of expanding the scale of these divisions to make it possible to use their resources more efficiently and realize synergies among businesses. In addition, to promote the development of solutions to address issues and themes that cross over business divisions, the Company has introduced the business domain concept. Two such domains have been established: the Farm & Industrial Machinery Domain and the Water & Environment Domain, and members of the Board of Directors have been appointed to take overall charge of them. Moreover, staff administrative departments in various divisions that perform similar functions have been integrated into the headquarters organization in the Corporate Staff section with the aims of strengthening Group business support functions and governance functions. These realignments of administrative functions, together with the previously mentioned regional management functions, will support growth from an organizational standpoint.

< Cautionary Statements with Respect to Forward-Looking Statements >

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Kubota Corporation

and Subsidiaries

3. Consolidated financial statements

(1) Consolidated balance sheets


Assets	(In millions of yen)
	March 31, 2012					March 31, 2011					Change
	Amount			%		Amount			%		Amount
Current assets:
Cash and cash equivalents		100,559					105,293					(4,734	)
Notes and accounts receivable:
Trade notes		71,713					56,185					15,528
Trade accounts		321,451					300,229					21,222
Less: Allowance for doubtful notes and accounts receivable		(2,404	)				(2,806	)				402

Total notes and accounts receivable, net		390,760					353,608					37,152

Short-term finance receivables-net		108,160					100,437					7,723
Inventories		202,070					174,217					27,853
Other current assets		64,463					43,649					20,814

Total current assets		866,012			58.2		777,204			57.3		88,808

Investments and long-term finance receivables:
Investments in and loan receivables from affiliated companies		17,971					16,569					1,402
Other investments		101,705					100,498					1,207
Long-term finance receivables-net		204,272					199,829					4,443

Total investments and long-term finance receivables		323,948			21.8		316,896			23.4		7,052

Property, plant, and equipment:
Land		89,529					89,435					94
Buildings		226,598					217,738					8,860
Machinery and equipment		361,433					352,064					9,369
Construction in progress		8,079					9,631					(1,552	)

Total		685,639					668,868					16,771

Accumulated depreciation		(460,572	)				(451,510	)				(9,062	)

Net property, plant, and equipment		225,067			15.1		217,358			16.0		7,709

Other assets:
Goodwill and intangible assets		26,904					7,441					19,463
Long-term trade accounts receivable		31,409					27,487					3,922
Other		15,204					11,398					3,806
Less: Allowance for doubtful receivables		(875	)				(932	)				57

Total other assets		72,642			4.9		45,394			3.3		27,248

Total		1,487,669			100.0		1,356,852			100.0		130,817

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Kubota Corporation

and Subsidiaries


Liabilities and equity	(In millions of yen)
	March 31, 2012					March 31, 2011					Change
	Amount			%		Amount			%		Amount
Current liabilities:
Short-term borrowings		69,623					76,642					(7,019	)
Trade notes payable		16,905					13,978					2,927
Trade accounts payable		199,072					150,825					48,247
Advances received from customers		6,983					3,270					3,713
Notes and accounts payable for capital expenditures		13,817					9,800					4,017
Accrued payroll costs		30,830					26,847					3,983
Accrued expenses		33,617					29,616					4,001
Income taxes payable		16,449					4,702					11,747
Other current liabilities		41,477					33,892					7,585
Current portion of long-term debt		107,210					85,556					21,654

Total current liabilities		535,983			36.0		435,128			32.1		100,855

Long-term liabilities:
Long-term debt		184,402					191,760					(7,358	)
Accrued retirement and pension costs		41,882					35,285					6,597
Other long-term liabilities		18,188					13,318					4,870

Total long-term liabilities		244,472			16.4		240,363			17.7		4,109

Equity:
Kubota Corporation shareholders’ equity:
Common stock		84,070					84,070					—
Capital surplus		88,834					89,140					(306	)
Legal reserve		19,539					19,539					—
Retained earnings		560,710					516,858					43,852
Accumulated other comprehensive loss		(80,542	)				(65,381	)				(15,161	)
Treasury stock		(19,328	)				(9,341	)				(9,987	)

Total Kubota Corporation shareholders’ equity		653,283			43.9		634,885			46.8		18,398
Noncontrolling interests		53,931			3.7		46,476			3.4		7,455

Total equity		707,214			47.6		681,361			50.2		25,853


Total		1,487,669			100.0		1,356,852			100.0		130,817

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Kubota Corporation

and Subsidiaries

(2) Consolidated statements of income


	(In millions of yen)
	Year ended March 31, 2012						Year ended March 31, 2011					Change
	Amount			%			Amount			%		Amount			%

Revenues		1,008,019			100.0			933,685			100.0		74,334			8.0
Cost of revenues		735,836			73.0			678,653			72.7		57,183			8.4
Selling, general, and administrative expenses		170,252			16.9			165,407			17.7		4,845			2.9
Other operating expenses (income)		(3,749	)		(0.4	)		3,514			0.4		(7,263	)		—

Operating income		105,680			10.5			86,111			9.2		19,569			22.7

Other income (expenses):
Interest and dividend income		3,760						3,429					331
Interest expense		(1,892	)					(1,632	)				(260	)
Gain on sales of securities-net		105						4,845					(4,740	)
Valuation loss on other investments		(2,570	)					(1,758	)				(812	)
Gain on nonmonetary exchange of securities		—						2,774					(2,774	)
Foreign exchange loss-net		(7,609	)					(1,640	)				(5,969	)
Other-net		3,464						(829	)				4,293

Other income (expenses), net		(4,742	)					5,189					(9,931	)

Income before income taxes and equity in net income of affiliated companies		100,938			10.0			91,300			9.8		9,638			10.6

Income taxes:
Current		35,594						27,137					8,457
Deferred		954						3,547					(2,593	)

Total income taxes		36,548						30,684					5,864

Equity in net income of affiliated companies		1,629						492					1,137


Net income		66,019			6.5			61,108			6.5		4,911			8.0

Less: Net income attributable to the noncontrolling interests		4,467						6,286					(1,819	)


Net income attributable to Kubota Corporation		61,552			6.1			54,822			5.9		6,730			12.3

-12-

Kubota Corporation

and Subsidiaries

(3) Consolidated statements of comprehensive income


	(In millions of yen)
	Year ended March 31, 2012			Year ended March 31, 2011			Change
Net income		66,019			61,108			4,911

Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		(13,359	)		(26,382	)		13,023
Unrealized gains (losses) on securities		3,220			(5,125	)		8,345
Unrealized gains on derivatives		538			804			(266	)
Pension liability adjustments		(8,361	)		(3,080	)		(5,281	)

Other comprehensive loss		(17,962	)		(33,783	)		15,821

Comprehensive income		48,057			27,325			20,732
Less: Comprehensive income attributable to the noncontrolling interests		1,622			3,213			(1,591	)

Comprehensive income attributable to Kubota Corporation		46,435			24,112			22,323

(4) Consolidated statements of changes in equity


	(In millions of yen)
	Shares of common stock outstanding (thousands)			Shareholders’ Equity																Non- controlling interests			Total
	Shares of common stock outstanding (thousands)			Common stock		Capital surplus			Legal reserve		Retained earnings			Accumulated other comprehensive loss			Treasury stock			Non- controlling interests			Total
Balance, March 31, 2010		1,271,847			84,070		89,241			19,539		477,303			(34,491	)		(9,265	)		45,222			671,619

Net income												54,822									6,286			61,108

Other comprehensive loss															(30,710	)					(3,073	)		(33,783	)

Cash dividends paid to Kubota Corporation shareholders, ¥12 per share												(15,267	)											(15,267	)
Cash dividends paid to the noncontrolling interests																					(307	)		(307	)
Purchases and sales of treasury stock		(134	)				1											(76	)					(75	)
Increase in noncontrolling interests related to contribution							(5	)													400			395
Changes in ownership interests in subsidiaries							(97	)							(180	)					(2,052	)		(2,329	)

Balance, March 31, 2011		1,271,713			84,070		89,140			19,539		516,858			(65,381	)		(9,341	)		46,476			681,361

Net income												61,552									4,467			66,019

Other comprehensive loss															(15,117	)					(2,845	)		(17,962	)

Cash dividends paid to Kubota Corporation shareholders, ¥14 per share												(17,700	)											(17,700	)
Cash dividends paid to the noncontrolling interests																					(291	)		(291	)
Purchases and sales of treasury stock		(15,729	)															(9,987	)					(9,987	)
Increase in noncontrolling interests related to contribution																					73			73
Changes in ownership interests in subsidiaries							(306	)							(44	)					6,051			5,701

Balance, March 31, 2012		1,255,984			84,070		88,834			19,539		560,710			(80,542	)		(19,328	)		53,931			707,214

-13-

Kubota Corporation

and Subsidiaries

(5) Consolidated statements of cash flows


	(In millions of yen)
	Year ended March 31, 2012			Year ended March 31, 2011			Change
Operating activities:
Net income		66,019			61,108
Depreciation and amortization		23,908			26,993
Gain on sales of securities-net		(105	)		(4,845	)
Valuation loss on other investments		2,570			1,758
Gain on nonmonetary exchange of securities		—			(2,774	)
(Gain) loss from disposal of fixed asset-net		(6,693	)		844
Impairment loss on fixed assets		1,531			111
Equity in net income of affiliated companies		(1,629	)		(492	)
Deferred income taxes		954			3,547
(Increase) decrease in notes and accounts receivable		(39,833	)		5,707
Increase in inventories		(16,176	)		(13,640	)
(Increase) decrease in other current assets		(8,355	)		8,459
Increase in trade notes and accounts payable		43,189			9,285
Increase (decrease) in income taxes payable		11,670			(17,684	)
Increase in other current liabilities		11,519			7,474
Decrease in accrued retirement and pension costs		(8,870	)		(9,627	)
Other		197			5,683

Net cash provided by operating activities		79,896			81,907			(2,011	)

Investing activities:
Purchases of fixed assets		(26,962	)		(27,358	)
Proceeds from sales of property, plant, and equipment		13,028			870
Proceeds from sales and redemption of investments		187			6,300
Acquisition of business, net of cash acquired		(17,211	)		—
Increase in finance receivables		(167,040	)		(170,063	)
Collection of finance receivables		135,319			142,852
Net increase in short-term loan receivables from affiliated companies		(5,565	)		—
Net (increase) decrease in time deposits		(2,080	)		3,747
Other		395			71

Net cash used in investing activities		(69,929	)		(43,581	)		(26,348	)

Financing activities:
Proceeds from issuance of long-term debt		104,816			62,489
Repayments of long-term debt		(89,203	)		(93,895	)
Net increase in short-term borrowings		9			7,238
Cash dividends		(17,700	)		(15,267	)
Purchases of treasury stock		(10,016	)		(50	)
Purchases of noncontrolling interests		(924	)		(2,317	)
Other		(246	)		87

Net cash used in financing activities		(13,264	)		(41,715	)		28,451

Effect of exchange rate changes on cash and cash equivalents		(1,437	)		(2,746	)		1,309

Net decrease in cash and cash equivalents		(4,734	)		(6,135	)
Cash and cash equivalents, beginning of year		105,293			111,428

Cash and cash equivalents, end of year		100,559			105,293			(4,734	)

	(In millions of yen)
Notes:
Cash paid during the year for:
Interest		4,732			6,914			(2,182	)
Income taxes		20,515			44,207			(23,692	)

-14-

Kubota Corporation

and Subsidiaries

(6) Notes to assumptions for going concern

None

(7) Notes to consolidated financial statements

a)	Summary of accounting policies

The accompanying consolidated financial information has been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP)

b)	Consolidated subsidiaries and affiliated companies under the equity method

150 subsidiaries are consolidated.


Major consolidated subsidiaries:	Domestic	Kubota Credit Co., Ltd. Kubota-C.I. Co., Ltd.

	Overseas	Kubota U.S.A., Inc. Kubota Tractor Corporation Kubota Credit Corporation, U.S.A. Kubota Manufacturing of America Corporation Kubota Industrial Equipment Corporation Kubota Engine America Corporation Kubota Canada Ltd. Kubota Metal Corporation Kubota Europe S.A.S. Kubota Baumaschinen GmbH Kubota (Deutschland) GmbH Kubota (U.K.) Ltd. Kverneland ASA * Kubota Agricultural Machinery (SUZHOU) Co., Ltd. SIAM KUBOTA Corporation Co., Ltd. SIAM KUBOTA Metal Technology Co., Ltd.

20 affiliated companies are accounted for under the equity method.


Major affiliated companies:		Domestic		KMEW Co., Ltd.

The Company acquired Kverneland ASA through a public offer and it became our consolidated subsidiary in March 2012.

c)	Adoption of new accounting standard

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.

-15-

Kubota Corporation

and Subsidiaries

(8) Consolidated segment information

a)	Reporting segments


Year ended March 31, 2012	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		713,943		198,511		64,775		30,790		—			1,008,019
Intersegment		69		2,428		2,832		18,010		(23,339	)		—
Total		714,012		200,939		67,607		48,800		(23,339	)		1,008,019
Operating income		97,776		14,829		2,651		2,450		(12,026	)		105,680

Identifiable assets at March 31, 2011		1,039,280		184,990		61,282		49,530		152,587			1,487,669
Depreciation		14,582		4,768		1,806		705		2,000			23,861
Capital expenditures		20,077		3,390		2,686		1,071		3,888			31,112

Year ended March 31, 2011	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		651,518		192,768		60,439		28,960		—			933,685
Intersegment		64		1,594		2,657		15,837		(20,152	)		—
Total		651,582		194,362		63,096		44,797		(20,152	)		933,685
Operating income		86,487		13,121		2,463		2,096		(18,056	)		86,111

Identifiable assets at March 31, 2011		918,656		170,691		62,092		39,386		166,027			1,356,852
Depreciation		15,870		6,010		1,931		697		2,009			26,517
Capital expenditures		13,871		4,861		3,764		691		764			23,951

Notes:

1. The amounts in “Adjustments” include the eliminations and adjustments of intersegment transactions, expenses that cannot be apportioned to business segments, and corporate assets. Corporate assets mainly consist of certain assets of the parent company such as cash and cash equivalents, investment securities and assets related to administration departments.

2. The aggregated amounts of operating income are equal to those in the consolidated statements of income. Therefore, the Company does not disclose the reconciliation of operating income to income before income taxes and equity in net income of affiliated companies.

3. Intersegment transactions are quoted at arm’s length price.

-16-

Kubota Corporation

and Subsidiaries

b) Revenues from external customers by product groups


	(In millions of yen)
	Year ended March 31, 2012		Year ended March 31, 2011
Farm Equipment and Engines		619,989		580,671
Construction Machinery		93,954		70,847
Farm & Industrial Machinery		713,943		651,518
Pipe-related Products		122,247		121,836
Environment-related Products		76,264		70,932
Water & Environment Systems		198,511		192,768
Social Infrastructure		64,775		60,439
Other		30,790		28,960
Total		1,008,019		933,685

c) Geographic information

Information for revenues from external customers by destination


	(In millions of yen)
	Year ended March 31, 2012		Year ended March 31, 2011
Japan		498,684		477,913
North America		219,929		189,330
Europe		88,715		75,762
Asia Outside Japan		169,632		160,533
Other Areas		31,059		30,147
Total		1,008,019		933,685

Notes:

1. Revenues from North America include those from the United States of ¥190,243 million and ¥167,553 million for the years ended March 31, 2012 and 2011, respectively.

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

Information for property, plant, and equipment based on physical location


	(In millions of yen)
	March 31, 2012		March 31, 2011
Japan		176,987		177,460
North America		15,158		16,146
Europe		9,580		1,733
Asia Outside Japan		20,087		18,794
Other Areas		3,255		3,225
Total		225,067		217,358

-17-

Kubota Corporation

and Subsidiaries

(9) Per common share information


	(In yen)
	Year ended March 31, 2012		Year ended March 31, 2011
Kubota Corporation shareholders’ equity per common share	¥	520.14	¥	499.24
Basic net income attributable to Kubota Corporation per common share	¥	48.75	¥	43.11

The numerators and denominators of the basic net income per common share computation is as follows:

Numerators


	(In millions of yen)
	Year ended March 31, 2012		Year ended March 31, 2011
Basic net income attributable to Kubota Corporation	¥	61,552	¥	54,822

Denominators


	(In thousands of shares)
	Year ended March 31, 2012		Year ended March 31, 2011
Weighted average common shares outstanding		1,262,534		1,271,778

Note: Diluted net income attributable to Kubota Corporation is not described because there are no dilutive securities.

(10) Subsequent events

None

-18-

Kubota Corporation

and Subsidiaries

(11) Consolidated revenues by reporting segments


	(In millions of yen)
	Year ended March 31, 2012				Year ended March 31, 2011				Change
	Amount		%		Amount		%		Amount			%

Farm Equipment and Engines		619,989		61.5		580,671		62.2		39,318			6.8
Domestic		208,353				205,676				2,677			1.3
Overseas		411,636				374,995				36,641			9.8
Construction Machinery		93,954		9.3		70,847		7.6		23,107			32.6
Domestic		27,083				20,710				6,373			30.8
Overseas		66,871				50,137				16,734			33.4
Farm & Industrial Machinery		713,943		70.8		651,518		69.8		62,425			9.6
Domestic		235,436		23.3		226,386		24.3		9,050			4.0
Overseas		478,507		47.5		425,132		45.5		53,375			12.6
Pipe-related Products		122,247		12.1		121,836		13.0		411			0.3
Domestic		114,980				113,584				1,396			1.2
Overseas		7,267				8,252				(985	)		(11.9	)
Environment-related Products		76,264		7.6		70,932		7.6		5,332			7.5
Domestic		69,633				65,090				4,543			7.0
Overseas		6,631				5,842				789			13.5
Water & Environment Systems		198,511		19.7		192,768		20.6		5,743			3.0
Domestic		184,613		18.3		178,674		19.1		5,939			3.3
Overseas		13,898		1.4		14,094		1.5		(196	)		(1.4	)
Social Infrastructure		64,775		6.4		60,439		6.5		4,336			7.2
Domestic		48,065		4.8		44,278		4.8		3,787			8.6
Overseas		16,710		1.6		16,161		1.7		549			3.4
Other		30,790		3.1		28,960		3.1		1,830			6.3
Domestic		30,570		3.1		28,575		3.0		1,995			7.0
Overseas		220		0.0		385		0.1		(165	)		(42.9	)
Total		1,008,019		100.0		933,685		100.0		74,334			8.0
Domestic		498,684		49.5		477,913		51.2		20,771			4.3
Overseas		509,335		50.5		455,772		48.8		53,563			11.8

-19-

Kubota Corporation

and Subsidiaries

(12) Anticipated consolidated revenues by reporting segments


	(In billions of yen)
	Year ending March 31, 2013				Year ended March 31, 2012				Change
	Amount		%		Amount		%		Amount		%
Domestic		245.0				235.4				9.6		4.1
Overseas		585.0				478.5				106.5		22.3
Farm & Industrial Machinery		830.0		72.2		713.9		70.8		116.1		16.3
Domestic		197.0				184.6				12.4		6.7
Overseas		18.0				13.9				4.1		29.5
Water & Environment Systems		215.0		18.7		198.5		19.7		16.5		8.3
Domestic		50.0				48.1				1.9		4.0
Overseas		20.0				16.7				3.3		19.7
Social Infrastructure		70.0		6.1		64.8		6.4		5.2		8.1
Domestic		33.0				30.6				2.4		7.9
Overseas		2.0				0.2				1.8		809.1
Other		35.0		3.0		30.8		3.1		4.2		13.7
Total		1,150.0		100.0		1,008.0		100.0		142.0		14.1

Domestic		525.0		45.7		498.7		49.5		26.3		5.3
Overseas		625.0		54.3		509.3		50.5		115.7		22.7

-20-

Kubota Corporation

and Subsidiaries

4. The results of operations for the three months ended March 31, 2012

(1) Consolidated statements of income


	(In millions of yen)
	Three months ended March 31, 2012						Three months ended March 31, 2011					Change
	Amount			%			Amount			%		Amount			%
Revenues		277,457			100.0			253,701			100.0		23,756			9.4
Cost of revenues		204,527			73.7			188,308			74.2		16,219			8.6
Selling, general, and administrative expenses		49,202			17.7			45,282			17.8		3,920			8.7
Other operating expenses (income)		(5,121	)		(1.8	)		2,951			1.2		(8,072	)		—

Operating income		28,849			10.4			17,160			6.8		11,689			68.1

Other income (expenses):
Interest and dividend income		559						345					214
Interest expense		(821	)					(268	)				(553	)
Gain on sales of securities-net		106						328					(222	)
Valuation loss on other investments		(1,079	)					(62	)				(1,017	)
Foreign exchange gain-net		1,193						1,268					(75	)
Other-net		147						317					(170	)

Other income (expenses), net		105						1,928					(1,823	)

Income before income taxes and equity in net loss of affiliated companies		28,954			10.4			19,088			7.5		9,866			51.7

Income taxes		9,145						6,482					2,663

Equity in net loss of affiliated companies		(444	)					(734	)				290

Net income		19,365			7.0			11,872			4.7		7,493			63.1

Less: Net income attributable to the noncontrolling interests		611						1,120					(509	)

Net income attributable to Kubota Corporation		18,754			6.8			10,752			4.2		8,002			74.4


	(In yen)
Net income attributable to Kubota Corporation per common share
Basic		14.93						8.45

-21-

Kubota Corporation

and Subsidiaries

(2) Consolidated segment information

a) Reporting segments

Three months ended March 31, 2012


	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		177,306		71,720		17,762		10,669		—			277,457
Intersegment		28		1,845		605		3,881		(6,359	)		—

Total		177,334		73,565		18,367		14,550		(6,359	)		277,457

Operating income		18,626		7,758		384		916		1,165			28,849

Three months ended March 31, 2011
	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		161,842		66,193		15,458		10,208		—			253,701
Intersegment		20		989		687		5,791		(7,487	)		—

Total		161,862		67,182		16,145		15,999		(7,487	)		253,701

Operating income		15,403		6,468		11		890		(5,612	)		17,160

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.

b) Geographic information

Information for revenues from external customers by destination


	(In millions of yen)
	Three months ended March 31, 2012		Three months ended March 31, 2011
Japan		146,819		136,820
North America		58,262		53,537
Europe		19,823		18,007
Asia Outside Japan		44,485		39,132
Other Areas		8,068		6,205
Total		277,457		253,701

Notes:

1. Revenues from North America include those from the United States of ¥51,623 million and ¥52,185 million for the three months ended March 31, 2012 and 2011, respectively.

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

-22-

Kubota Corporation

and Subsidiaries

(3) Consolidated revenues by reporting segments


	(In millions of yen)
	Three months ended March 31, 2012				Three months ended March 31, 2011				Change
	Amount		%		Amount		%		Amount			%

Farm Equipment and Engines		158,217		57.0		145,264		57.3		12,953			8.9
Domestic		51,214				48,244				2,970			6.2
Overseas		107,003				97,020				9,983			10.3
Construction Machinery		19,089		6.9		16,578		6.5		2,511			15.1
Domestic		6,694				5,631				1,063			18.9
Overseas		12,395				10,947				1,448			13.2
Farm & Industrial Machinery		177,306		63.9		161,842		63.8		15,464			9.6
Domestic		57,908		20.9		53,875		21.2		4,033			7.5
Overseas		119,398		43.0		107,967		42.6		11,431			10.6
Pipe-related Products		34,818		12.5		30,709		12.1		4,109			13.4
Domestic		30,393				29,314				1,079			3.7
Overseas		4,425				1,395				3,030			217.2
Environment-related Products		36,902		13.3		35,484		14.0		1,418			4.0
Domestic		34,986				33,257				1,729			5.2
Overseas		1,916				2,227				(311	)		(14.0	)
Water & Environment Systems		71,720		25.8		66,193		26.1		5,527			8.3
Domestic		65,379		23.5		62,571		24.7		2,808			4.5
Overseas		6,341		2.3		3,622		1.4		2,719			75.1
Social Infrastructure		17,762		6.4		15,458		6.1		2,304			14.9
Domestic		12,878		4.6		10,190		4.0		2,688			26.4
Overseas		4,884		1.8		5,268		2.1		(384	)		(7.3	)
Other		10,669		3.9		10,208		4.0		461			4.5
Domestic		10,654		3.9		10,184		4.0		470			4.6
Overseas		15		0.0		24		0.0		(9	)		(37.5	)
Total		277,457		100.0		253,701		100.0		23,756			9.4
Domestic		146,819		52.9		136,820		53.9		9,999			7.3
Overseas		130,638		47.1		116,881		46.1		13,757			11.8

-23-

Kubota Corporation

and Subsidiaries

5. Other

(1) Notice of changes of management (Effective as of June 22, 2012)

a) Appointment of new Directors


Name		Current responsibility

Masatoshi Kimata		Senior Managing Executive Officer of the Company
Shigeru Kimura		Managing Executive Officer of the Company

b) Retirement of Directors (Expiration of the term of offices)


Name		New responsibility after retirement

Takeshi Torigoe		Senior Managing Executive Officer of the Company
Masayoshi Kitaoka		Adviser of the Company

End of document

-24-

May 10, 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 Department

Planning & Control Headquarters

Phone: +81-6-6648-2645

Notice on a distribution of retained earnings

Please be advised that Kubota Corporation (hereinafter “the Company”) resolved at the Board of Directors’ Meeting held on May 10, 2012 that the Company would distribute retained earnings as the record date was March 31, 2012.

1. Details of year-end dividend

Year-end dividend

Latest forecast
(Released on February 7, 2012)

Comparable previous year
(Year ended March 31, 2011)

Record date

March 31, 2012

March 31, 2011

Dividend per common share

Amount of dividend

10,050 million

—

8,905 million

Date of payment

June 25, 2012

—

June 27, 2011

Resource of dividend

Retained earnings

—

Retained earnings

2. Reasons for raising dividend

The Company’s basic policy for the return of profit to shareholders is to maintain stable dividends or raise dividends together with share buy-back and retirement of treasury stock.

Considering the basic policy and the Company’s current business performance, the Company decided to pay ¥8 per common share as year-end dividend, which will be ¥1 higher than in the prior year.

Accordingly, including the interim dividend of ¥7 per common share already paid, the annual dividend per common share for the fiscal year ended March 31, 2012 will be ¥15, which will be ¥1 higher than in the prior year.


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

< Cautionary Statements with Respect to Forward-Looking Statements >

End of document

May 10, 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 Department

Planning & Control Headquarters

Phone: +81-6-6648-2645

Basic policy regarding reduction of trading unit of the Company’s stock

Kubota Corporation (hereinafter “the Company”) believes that reduction of trading unit is one of the effective measures to enhance liquidity of the Company’s stock and the diversity of shareholders, which is deemed to be one of the important considerations by the Company.

However, the Company believes that the implementation of reduction of trading unit should be examined in careful consideration of price and liquidity of the Company’s stock, financial results of the Company and expenses.

< Cautionary Statements with Respect to Forward-Looking Statements >

End of document

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: May 10, 2012	By:	/s/ Yoshiyuki Fujita
	Name:	Yoshiyuki Fujita
	Title:	Executive Officer
		General Manager of Global Management Promotion Department

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