August 7, 2024

FOR IMMEDIATE RELEASE

Contact: IR Section
Corporate Planning and Control Dept.
2-47, Shikitsuhigashi 1-chome,
Naniwa-ku, Osaka 556-8601, Japan
Phone: +81-6-6648-2645

FINANCIAL RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2024 [IFRS]
Kubota Corporation hereby reports its consolidated results for the six months ended June 30, 2024.

Consolidated Financial Highlights
1. Consolidated financial results for the six months ended June 30, 2024
(1) Results of operations(Unit: millions of yen, except per share amounts)

Six months ended
June 30, 2024
¥ 1,579,599¥ 207,344¥ 216,727¥ 164,058¥ 150,804¥ 402,169

Revenue
Operating profit
Profit before income taxes
Profit for the period
Profit attributable to owners of the parent
Comprehensive income for the period
Earnings per share attributable to owners of the parent:
Basic
Diluted¥ 128.33
ュ(2) Financial position

Change
(%)
3.9
12.3
13.0
17.1
17.1
30.5

Six months ended
June 30, 2023
¥ 1,520,040¥ 184,574¥ 191,841¥ 140,070¥ 128,823¥ 308,090

Change
(%)
20.7
55.4
47.0
38.3
40.7
0.5

¥ 108.56
ュ(Unit: millions of yen)

Total assets
Total equity
Equity attributable to owners of the parent
Ratio of equity attributable to owners of the parent
to total assets

June 30, 2024

Dec. 31, 2023

¥ 6,080,813¥ 2,785,418¥ 2,517,259¥ 5,359,247¥ 2,416,067¥ 2,175,773

41.4%

40.6%

Notes:
1. Change (%) represents the percentage change from the same period in the prior year.
2. Amounts less than one million yen are rounded.

2. Cash dividends(Unit: yen)

Cash dividends per common share
InterimYear-end
Total¥ 25.00
Undecided
Undecided¥ 24.00¥ 24.00¥ 48.00

Year ending Dec. 31, 2024
Year ended Dec. 31, 2023
Note:

Although Kubota Corporation's basic policy for the return of profit to shareholders is to maintain stable dividends and raise dividends, the specificamount of cash dividends for each fiscal year is decided in consideration of the development of business performance, financial position, andshareholder return ratio calculated from dividends and share buybacks. The specific amount of year-end cash dividends for the year ending December
31, 2024 has not been decided at this time, and Kubota Corporation will publicize the amount as soon as a decision is made.

-1-

Kubota Corporation
and Its Subsidiaries

3. Forecasts of operations for the year ending December 31, 2024

(Unit: millions of yen, except per share amounts)

Year ending
Dec. 31, 2024
¥ 3,000,000¥ 330,000¥ 348,000¥ 235,000¥ 199.98

Revenue
Operating profit (loss)
Profit (loss) before income taxes
Profit (loss) attributable to owners of the parent
Earnings (loss) per share attributable to owners of the parent - basic

Change
(%)
(0.7)
0.4
1.7
(1.4)

Notes:
1. Change (%) represents the percentage change from the prior year.
2. Please refer to the accompanying materials, "1. Review of operations and financial results (3) Forecasts for the year ending December 31, 2024" on page 6 forfurther information related to the forecasts of operations.

4. Other information(1)

Changes in significant subsidiaries during the six months ended June 30, 2024 (changes in specified subsidiaries
resulting in the changes in scope of consolidation): None

(2)

Changes in accounting policies and changes in accounting estimatesa) Changes in accounting policies required by International Financial Reporting Standards (hereinafter “IFRS”): Noneb) Changes in accounting policies due to reasons other than a) above: Nonec) Changes in accounting estimates: None(3)

Number of common shares issueda) Number of common shares issued including treasury shares as of June 30, 2024
Number of common shares issued including treasury shares as of December 31, 2023
b) Number of treasury shares as of June 30, 2024
Number of treasury shares as of December 31, 2023c) Weighted-average number of common shares outstanding during the six months ended June 30, 2024
Weighted-average number of common shares outstanding during the six months ended June 30, 2023

:
:
:
:
:
:

1,176,666,846
1,176,666,846
1,484,034
1,685,151
1,175,082,182
1,186,685,351

Information on the status of the quarterly review by the independent auditor
This release is not subject to the quarterly review by the independent auditor.
Method of obtaining supplementary materials on the financial results
Kubota Corporation plans to hold a result briefing (conference call) for institutional investors and securities analysts on
August 8, 2024. The supplementary material will be published on the Company’s website on the same day.
< 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 bothin public and private sectors, foreign currency exchange rates, the occurrence of natural disasters, continued competitive pricing pressures in themarketplace, as well as the Company's ability to continue to gain acceptance of its products.

-2-

Kubota Corporation
and Its Subsidiaries

Index to Accompanying Materials
1. Review of operations and financial results ………………………………………………………………………………………………

4(1) Summary of the results of operations for the six-month period ………………………………………………………

4(2) Financial position …………………………………………………………………………………………………………………….........

5(3) Forecasts for the year ending December 31, 2024 …………………………………………………………………………… 6

2. Other information ……………………………………………………………………………………………………………………...............

6(1) Changes in significant subsidiaries ……………………………………………………………………………………………………

6(2) Changes in accounting policies …………………………………………………………………………………………………………

6

3. Condensed consolidated financial statements ………………………………………………………………………………………… 7(1) Condensed consolidated statement of financial position …………………………………………………………………

7(2) Condensed consolidated statement of profit or loss ………………………………………………………………………… 9(3) Condensed consolidated statement of comprehensive income ……………………………………………………… 10(4) Condensed consolidated statement of changes in equity ………………………………………………………………… 11(5) Condensed consolidated statement of cash flows …………………………………………………………………………… 12(6) Notes to the going concern assumption …………………………………………………………………………………………… 12(7) Consolidated segment information ………………………………………………………………………………………………… 13(8) Consolidated revenue by product group ………………………………………………………………………………………… 14(9) Anticipated consolidated revenue by reportable segment ……………………………………………………………… 15

4. Results of operations for the three months ended June 30, 2024 …………………………………………………………… 16(1) Condensed consolidated statement of profit or loss ………………………………………………………………………… 16(2) Consolidated segment information ………………………………………………………………………………………………… 17(3) Consolidated revenue by product group ………………………………………………………………………………………… 18-3-

Kubota Corporation
and Its Subsidiaries

1. Review of operations and financial results(1) Summary of the results of operations for the six-month period
For the six months ended June 30, 2024, revenue of the Company increased by ¥59.6 billion (3.9%) from the same
period in the prior year to ¥1,579.6 billion.
Domestic revenue decreased by ¥9.4 billion (3.0%) from the same period in the prior year to ¥305.7 billion
because of decreased revenue from Farm & Industrial Machinery, Water & Environment and Other.
Overseas revenue increased by ¥68.9 billion (5.7%) from the same period in the prior year to ¥1,273.9 billion
because of increased revenue from Farm & Industrial Machinery and Water & Environment.
Operating profit increased by ¥22.8 billion (12.3%) from the same period in the prior year to ¥207.3 billion mainly
due to favorable effects from exchange rate fluctuation and price increase although there were some negative factors
such as decreased sales in mostly Europe of Farm & Industrial Machinery and increased cost in sales incentive. Profit
before income taxes increased by ¥24.9 billion (13.0%) from the same period in the prior year to ¥216.7 billion. Profit forthe period increased by ¥24.0 billion (17.1%) to ¥164.1 billion, reflecting income tax expenses of ¥53.4 billion and shareof profits of investments accounted for using the equity method of ¥0.7 billion. Profit attributable to owners of the parent
increased by ¥22.0 billion (17.1%) from the same period in the prior year to ¥150.8 billion.
Revenue from external customers and operating profit by each reportable segment were as follows:
1) Farm & Industrial Machinery
Farm & Industrial Machinery is composed of farm equipment, agricultural-related products, engines, andconstruction machinery.
Revenue in this segment increased by 4.4% from the same period in the prior year to ¥1,403.4 billion, which
accounted for 88.9% of consolidated revenue.
Domestic revenue decreased by 4.7% from the same period in the prior year to ¥155.2 billion mainly due todecreased sales of farm equipment and agricultural-related products.
Overseas revenue increased by 5.7% from the same period in the prior year to ¥1,248.2 billion along with positiveeffect from fluctuation of foreign exchange rates. In North America, although the sales of CE increased steadily withdemand for housing market and infrastructure development by the government, the Company struggled with tractor
business due to stagnation in the residential market and crop prices decline. In Europe, sales of CE and engines declined
due to the effect of the continuous downturn in economy and investment. Tractor business also continued to be sluggish
due to weak demand. In Thailand, although sales decreased due to purchasing refrain caused by the drought, the market
trend turned into recovery phase. The Company struggled with India business due to the market shrink caused byconcerns about yield decline as a result of short rainfall and slow economic activity due to the general election.
Operating profit in this segment increased by 8.8% from the same period in the prior year to ¥215.9 billion mainly
due to some positive factors such as favorable effects from fluctuation of foreign exchange rates and price increase
although there were some negative factors such as the loss caused by sales decrease mainly in Europe and increased costin sales incentive.
2) Water & Environment
Water & Environment is composed of pipe system business (ductile iron pipes, plastic pipes, and other products),
industrial products business (reformer and cracking tubes, spiral-welded steel pipes, air-conditioning equipment, and-4-

Kubota Corporation
and Its Subsidiaries

other products), and environment business (environmental control plants, pumps, and other products).
Revenue in this segment increased by 1.2% from the same period in the prior year to ¥167.6 billion, which
accounted for 10.6% of consolidated revenue.
Domestic revenue decreased by 0.1% from the same period in the prior year to ¥141.9 billion due to decreased
sales in pipe system business and environment business although sales of industrial products business increased mainly
in Materials.
Overseas revenue increased by 8.7% from the same period in the prior year to ¥25.7 billion due to increased sales
in environment business.
Operating profit in this segment increased by 32.6% from the same period in the prior year to ¥13.1 billion mainly
due to material price decline and price increase.
3) Other
Other is mainly composed of a variety of other services.
Revenue in this segment decreased by 15.8% from the same period in the prior year to ¥8.6 billion and accounted
for 0.5% of consolidated revenue.
Operating profit in this segment decreased by 11.6% from the same period in the prior year to ¥1.0 billion.

(2) Financial positiona) Assets, liabilities, and equity
Total assets as of June 30, 2024, were ¥6,080.8 billion, an increase of ¥721.6 billion from the prior fiscal year-end.
With respect to assets, trade receivables and finance receivables increased mainly in North America business.
Total liabilities also increased from the prior fiscal year-end due to an increase in bonds and borrowings as a resultof increase in borrowings belonging to North America business. Equity increased due to the accumulation of retained
earnings and an improvement in other components of equity along with fluctuations mainly in foreign exchange rates.
The ratio of equity attributable to owners of the parent to total assets stood at 41.4%, 0.8 percentage points
higher than the prior fiscal year-end.

b) Cash flows
Net cash provided by operating activities during the six months ended June 30, 2024 was ¥129.4 billion, an
increase of ¥227.5 billion in net cash inflow compared with the same period in the prior year. This increase resulted from
improvement of working capital.
Net cash used in investing activities was ¥125.8 billion, an increase of ¥28.0 billion in net cash outflow comparedwith the same period in the prior year. This increase resulted mainly from the acquisition of tangible assets due to capital
expenditure and acquisition of intangible assets.
Net cash provided by financing activities was ¥46.8 billion, a decrease of ¥106.8 billion in net cash inflow
compared with the same period in the prior year due to a decrease in funding.
As a result of the above and after taking into account the effects of exchange rate changes, cash and cash
equivalents as of June 30, 2024, were ¥287.0 billion, an increase of ¥64.9 billion from the beginning of the current period.

-5-

Kubota Corporation
and Its Subsidiaries(3) Forecasts for the year ending December 31, 2024
The Company revised its forecasts for revenue for the year ending December 31, 2024, downward to ¥3,000.0
billion, a decrease of ¥50.0 billion from the previous forecasts, which was announced on February 14, 2024. This revision
was made because revenue is expected to decrease mainly in Europe and North America of Farm & Industrial Machinery
segment.
Operating profit was revised to ¥330.0 billion, an increase of ¥10.0 billion from the previous forecasts considering
the trends of fluctuation of exchange rate and material prices while downward sales revision is negative factor tooperating profit. Profit before income taxes was revised to ¥348.0 billion, an increase of ¥15.0 billion from the previous
forecasts and profit attributable to owners of the parent was revised to ¥235.0 billion, an increase of ¥9.0 billion fromthe previous forecasts.
These forecasts are based on the assumption of exchange rates of ¥150=US$1 and ¥161=€1.
(Unit: millions of yen, except earnings per share amounts)

Revenue
Operating profit
Profit before income taxes
Profit attributable to owners of the parent
Earnings per share attributable toowners of the parent-Basic

Revisedforecasts
3,000,000
330,000
348,000
235,000
199.98

2. Other information(1) Changes in significant subsidiaries
None(2) Changes in accounting policies
None

-6-

Year ending Dec. 31, 2024
ChangePrevious
forecasts
Amount3,050,000(50,000)
320,000
10,000333,000
15,000226,000
9,000
192.34

-

(1.6)
3.1
4.5
4.0

(Reference)Year ended
Dec. 31, 2023
3,020,711
328,829342,289
238,455-

201.74%

Kubota Corporation
and Its Subsidiaries

3. Condensed consolidated financial statements(1) Condensed consolidated statement of financial position
ASSETS(Unit: millions of yen)
June 30, 2024
AmountDec. 31, 2023
Amount%ChangeAmount%Current assets:
Cash and cash equivalents¥

286,983¥

222,118¥

64,865Trade receivables

1,101,023

945,490

155,533

Finance receivables

639,909552,419

87,490

Other financial assets

113,352

83,01830,334Contract assets

23,17947,669(24,490)

Inventories

718,217

668,048

50,169

Income taxes receivable

15,407

5,763

9,644

Other current assets

65,811

55,846

9,965

Total current assets

2,963,881

48.7

2,580,371

48.1

383,510

Noncurrent assets:
Investments accounted for using
the equity method

46,82846,523305

Finance receivables

1,528,407

1,349,047

179,360

Other financial assets

224,097

188,654

35,443

Property, plant, and equipment

806,938

727,061

79,877

Goodwill

163,662

145,715

17,947

Intangible assets

202,464

187,000

15,464

Deferred tax assets

104,636

96,091

8,545

Other noncurrent assets

39,90038,785

1,115

Total noncurrent assets

Total assets

3,116,932

¥

-7-

51.3

6,080,813 100.0

2,778,876¥

51.9

5,359,247 100.0

338,056¥

721,566

Kubota Corporation
and Its Subsidiaries

LIABILITIES AND EQUITY(Unit: millions of yen)
June 30, 2024
AmountDec. 31, 2023
Amount%ChangeAmount%Current liabilities:
Bonds and borrowings¥

808,105¥

663,294¥

144,811

Trade payables

306,424

300,902

5,522

Other financial liabilities

99,954

93,2706,684

Insurance contract liabilities

61,273

51,333

9,940

Income taxes payable

32,10629,706

2,400

Provisions

81,01577,191

3,824

Contract liabilities

40,53333,043

7,490

Other current liabilities

281,847

244,323

37,524

Total current liabilities

1,711,257

28.1

1,493,062

27.9

218,195

Noncurrent liabilities:
Bonds and borrowings

1,450,845

1,326,913

123,932

Other financial liabilities

41,12144,701(3,580)Retirement benefit liabilities

16,495

15,907

588

Deferred tax liabilities

68,30355,653

12,650

Other noncurrent liabilities

7,374

6,944

430

Total noncurrent liabilities

1,584,138

26.1

1,450,118

27.0

134,020

Total liabilities

3,295,395

54.2

2,943,180

54.9

352,215

Equity:Share capital

84,13084,130ュ

Share premium

97,253

97,377(124)

Retained earnings

1,816,279

1,693,681

122,598

Other components of equity

522,347

303,794

218,553

Treasury shares(2,750)(3,209)459

Total equity attributable to owners of the parent

2,517,259

41.4

2,175,773

40.6

341,486

Noncontrolling interests

268,1594.4

240,294

4.5

27,865

Total equity

2,785,418

45.8

2,416,067

45.1

369,351

6,080,813

100.0

Total liabilities and equity

¥

-8-

¥

5,359,247 100.0¥

721,566

Kubota Corporation
and Its Subsidiaries(2) Condensed consolidated statement of profit or loss
(Unit: millions of yen, except earnings per share)
Six months ended
June 30, 2024
AmountRevenue¥

Cost of sales

Six months ended
June 30, 2023%

1,579,599

100.0

Amount¥ChangeAmount%1,520,040 100.0¥

59,559(1,088,251)(1,081,345)(6,906)(287,029)(260,525)(26,504)

Other income

11,547

12,720(1,173)

Other expenses(8,522)(6,316)(2,206)

Selling, general, and administrative expenses

Operating profit

207,34413.1

184,574

12.1

22,770Finance income

12,575

9,570

3,005

Finance costs(3,192)(2,303)(889)

Profit before income taxes

216,727

Income tax expenses
Share of profits of investments accounted forusing the equity method
Profit for the period

13.7

191,841

12.6

24,886(53,368)(52,707)

(661)

699

936

(237)

%

3.9

12.3

13.0

¥

164,058

10.4¥

140,070

9.2¥

23,98817.1¥

150,804

9.5¥

128,823

8.5¥

21,981

17.1

13,2540.9

11,247

0.7

2,007

17.8

Profit attributable to:
Owners of the parent
Noncontrolling interests

Earnings per share attributable to owners of the parent:
Basic

¥

128.33ュDiluted-9-¥108.56ュKubota Corporation
and Its Subsidiaries(3) Condensed consolidated statement of comprehensive income(Unit: millions of yen)

Profit for the period

Six months ended
June 30, 2024

Six months ended
June 30, 2023¥¥

164,058

140,070

Change¥23,988Other comprehensive income, net of income tax:
Items that will not be reclassified subsequently to profit or loss:
Remeasurement of defined benefit
pension plans
Net change in fair value of financial assets measured atfair value through other comprehensive income

(14)

134

(148)

15,672

10,146

5,526

222,453

157,740

64,713

238,111

168,020

70,091

Items that may be reclassified subsequently to profit or loss:
Exchange rate differences on translating
foreign operations
Total other comprehensive income, net of income tax
Comprehensive income for the period¥

402,169¥

308,090¥

94,079¥369,364¥

280,368¥

88,996Comprehensive income attributable to:
Owners of the parent
Noncontrolling interests

32,805-10-

27,722

5,083

Kubota Corporation
and Its Subsidiaries(4) Condensed consolidated statement of changes in equity
Six months ended June 30, 2024

(Unit: millions of yen)
Equity attributable to owners of the parent
SharecapitalBalance as of Jan. 1, 2024

¥

Share
premium

84,13097,377

Profit for the period

Other
componentsofequityRetainedearnings

1,693,681

303,794

Comprehensive income
for the period

164,058

218,560

218,560

19,551

238,111150,804

218,560

369,364

32,805402,1691(1)

ュ
(28,207)

Purchases and sales of treasury
shares459
93

Changes in ownershipinterests in subsidiaries

(217)
¥

84,130 ¥240,294 ¥ 2,416,067
13,254(28,207)

Share-based paymenttransactions

Total
equity150,804

Transfer to retained
earnings
Dividends paid

Total equity
Noncontrolling
attributable tointerests
owners of theparent(3,209) ¥ 2,175,773 ¥

150,804

Total other comprehensive
income, net of income tax

Balance as of June 30, 2024

Treasuryshares(6)

97,253 ¥ 1,816,279 ¥ 522,347 ¥ュ
(5,532)(33,739)

459

459

93

93

(223)
(2,750) ¥ 2,517,259 ¥

592

369

268,159 ¥ 2,785,418(Unit: millions of yen)Six months ended June 30, 2023
Equity attributable to owners of the parent
SharecapitalBalance as of Jan. 1, 2023¥

84,130 ¥Sharepremium

Other
componentsofequityRetainedearnings

79,247 ¥ 1,529,248 ¥ 185,422 ¥Profit for the period

Comprehensive income
for the period
Transfer to retained
earnings
Dividends paid

140,070

151,545

151,545

16,475

168,020

128,823

151,545

280,368

27,722

308,090

104

(104)

ュ
(26,169)(19,618)54
18,464¥

84,130 ¥227,998 ¥ 2,102,488
11,247Purchases and sales of treasury
sharesChanges in ownershipinterests in subsidiaries

Total
equity128,823(26,169)

Share-based payment transactions

Total equity
Noncontrolling
attributable tointerests
owners of theparent(3,557) ¥ 1,874,490 ¥

128,823

Total other comprehensive
income, net of income tax

Balance as of June 30, 2023

Treasuryshares(215)

97,765 ¥ 1,632,006 ¥ 336,648 ¥-11-ュ
(8,731)(34,900)(19,618)(19,618)54

54

18,249(23,175) ¥ 2,127,374 ¥(17,816)433

229,173 ¥ 2,356,547

Kubota Corporation
and Its Subsidiaries(5) Condensed consolidated statement of cash flows(Unit: millions of yen)Six months ended
June 30, 2024

Six months ended
June 30, 2023¥¥

ChangeCash flows from operating activities:
Profit for the period

164,058

140,070

Depreciation and amortization

58,246

51,256

Finance income and costs(8,015)(4,280)

Income tax expenses

53,36852,707

Increase in trade receivables(92,911)(108,626)

Increase in finance receivables(46,669)(45,254)

Decrease in inventories

14,306

8,254

Decrease in other assets

20,404

13,275Decrease in trade payables(12,794)(177,020)

Increase in other liabilities

34,231

24,324

Other, net(1,074)

1,224

Interest received

9,361

5,334

Dividends received

1,566

1,115

Interest paid

(3,382)(1,960)

Income taxes paid, net(61,321)(58,542)

129,374(98,123) ¥(102,895)(90,117)

Purchase of investments accounted for using the equity method

(34)

(339)

Net decrease in short-term loans receivable from associate

876

846

(14,975)(157)

Net cash provided by (used in) operating activities

227,497

Cash flows from investing activities:
Payments for acquisition of property, plant, and equipment
and intangible assets

Net increase in time deposits
Net (increase) decrease in restricted cash

(594)

72

Net increase in short-term investments(9,252)(3,618)Other, net

1,030(4,488)(125,844)(97,801)

Funding from bonds and long-term borrowings

432,579546,246

Redemptions of bonds and repayments of long-term borrowings(265,586)(273,399)

Net decrease in short-term borrowings(79,820)(56,317)

Repayments of lease liabilities(7,596)(8,850)Net cash used in investing activities(28,043)

Cash flows from financing activities:

Net increase in deposits from Group financing
Dividends paid
Purchases of treasury shares
Other, net
Net cash provided by financing activities
Effect of exchange rate changes on cash and cash equivalents

1,274

3,409

(28,207)(26,169)(2)(20,001)(5,819)(11,268)

46,823

153,651(106,828)

14,512

9,823

4,689

Net increase (decrease) in cash and cash equivalents

64,865(32,450)

Cash and cash equivalents, at the beginning of the period

222,118

225,799

Cash and cash equivalents, at the end of the period¥(6) Notes to the going concern assumption
None

-12-

286,983¥

193,349¥

93,634

Kubota Corporation
and Its Subsidiaries(7) Consolidated segment informationa) Reportable segments
Information by reportable segment is summarized as follows:(Unit: millions of yen)
Farm &
Industrial
MachinerySix months ended June 30, 2024

Revenue

External customers¥

Intersegment
Total
Operating profit¥

Water &
Environment

1,403,401

¥

Other

167,592¥

Consolidated

Adjustments
8,606

ュ

¥

¥

1,579,599

141

6

14,601(14,748)

ュ

1,403,542

167,598

23,207(14,748)

1,579,599

215,855¥

13,112¥957¥(22,580) ¥207,344(Unit: millions of yen)
Farm &
Industrial
MachinerySix months ended June 30, 2023

Revenue

External customers¥

Intersegment
Total
Operating profit¥

Water &
Environment

1,344,178¥

165,646

Other¥

Consolidated

Adjustments

10,216

ュ

¥¥

1,520,040

108

25

16,132(16,265)

ュ

1,344,286

165,671

26,348(16,265)

1,520,040

198,369

¥

9,892

¥

1,082

¥

(24,769) ¥184,574

Notes:
1. Adjustments include the items, such as the elimination of intersegment transfers and corporate expenses which are not allocated to any
particular reportable segment. The corporate expenses included in Adjustments consist mainly of expenses of the administration
department, basic research expenses, and foreign exchange gains or losses incurred in Kubota Corporation.
2. The aggregated amounts of operating profit are equal to those presented in the condensed consolidated statement of profit or loss. Pleaserefer to the condensed consolidated statement of profit or loss for the reconciliation of operating profit to profit before income taxes.
3. Intersegment transfers are recorded at values that approximate market prices.

b) Geographic information
Information about revenue from external customers by location is summarized as follows:(Unit: millions of yen)Six months ended
June 30, 2024

䚷䚷Japan䚷䚷North America
䚷䚷Europe
䚷䚷Asia outside Japan
䚷䚷Other areas
䚷䚷Total¥¥Six months ended
June 30, 2023

305,703692,914
183,788343,928
53,266
1,579,599¥¥

315,055
621,316
218,837
309,708
55,124
1,520,040

Notes:
1. The revenue from North America included that from the United States was ¥629,412 million and ¥526,455 million for the six months ended
June 30, 2024 and 2023, respectively.
2. There was no specific customer that exceeded 10% of total consolidated revenue of the Company.

-13-

Kubota Corporation
and Its Subsidiaries(8) Consolidated revenue by product group(Unit: millions of yen)Six months ended
June 30, 2024
AmountFarm Equipment and Engines¥

Six months ended
June 30, 2023
Amount%1,058,143

67.0 ¥

ChangeAmount

%1,032,274

67.9 ¥%

25,8692.5

Domestic

137,958

144,722(6,764)(4.7)

Overseas920,185

887,552

32,633

3.7

33,354

10.7

345,258

Construction Machinery

21.9

311,904

20.5

Domestic

17,26618,157

(891)

(4.9)

Overseas327,992

293,747

34,245

11.7

Farm & Industrial Machinery

1,403,401

88.9

1,344,178

88.4

59,223

4.4

Domestic

155,224

9.9

162,879

10.7(7,655)(4.7)

Overseas

1,248,177

79.0

1,181,299

77.7

66,878

5.7

61,411

3.9

62,4444.2(1,033)(1.7)

Pipe system
Domestic

59,49860,522(1,024)(1.7)

Overseas

1,913

1,922

(9)

(0.5)

(42)

(0.1)

35,658Industrial products

2.2

35,7002.3

Domestic

20,096

18,652

1,444

7.7

Overseas

15,562

17,048(1,486)

(8.7)

3,021

4.5

70,523

Environment

4.5

67,502

4.4

Domestic

62,281

62,813

(532)

(0.8)

Overseas

8,242

4,689

3,553

75.8

Water & Environment

167,592

10.6

165,646

10.9

1,946

1.2

Domestic

141,875

9.0

141,987

9.3

(112)

(0.1)

Overseas

25,717

1.6

23,659

1.6

2,058

8.7

8,606

0.5

10,216

0.7(1,610)(15.8)

Domestic

8,604

0.5

10,1890.7(1,585)(15.6)

Overseas

2

0.0

27

0.0

(25)

(92.6)

Other

Total

¥

1,579,599

100.0 ¥

1,520,040

100.0 ¥

59,5593.9

Domestic

305,703

19.4

315,055

20.7(9,352)(3.0)

Overseas

1,273,896

80.6

1,204,985

79.3

68,911

5.7-14-

Kubota Corporation
and Its Subsidiaries(9) Anticipated consolidated revenue by reportable segment(Unit: billions of yen)

Year ending
Dec. 31, 2024
AmountDomestic¥

Overseas

Year ended
Dec. 31, 2023
Amount%298.0¥

2,306.0

Farm & Industrial Machinery

2,604.0

ChangeAmount%315.8¥

2,321.0
86.8

2,636.7

87.3%(17.8)(5.6)(15.0)(0.6)(32.7)(1.2)

Domestic

316.0

307.9

8.1

2.6

Overseas

62.0

56.6

5.4

9.6

13.5

3.7

Water & Environment

378.0

12.6

364.5

12.1

Domestic

18.0

19.5

(1.5)

(7.6)

Overseas

0.0

0.0

㻙

㻙

(1.5)

(7.8)

Other
Total

Domestic
Overseas

18.0

0.6

¥

3,000.0

100.0

¥

632.0

21.1

2,368.0

78.9

-15-

19.5

0.6

¥

3,020.7

100.0¥(20.7)

(0.7)

¥

643.1

21.3

¥

(11.1)(1.7)

2,377.6

78.7

(9.6)

(0.4)

Kubota Corporation
and Its Subsidiaries

4. Results of operations for the three months ended June 30, 2024
(1) Condensed consolidated statement of profit or loss
(Unit: millions of yen, except earnings per share)
Three months ended
June 30, 2024
AmountRevenue¥Three months ended
June 30, 2023
Amount%804,367 100.0¥

ChangeAmount%738,477 100.0¥

65,890

Cost of sales(550,367)(529,951)(20,416)

Selling, general, and administrative expenses(150,296)(133,727)(16,569)

Other income

7,434

12,025(4,591)Other expenses(6,744)(5,498)(1,246)

Operating profit

104,394

13.0

81,32611.0

23,068Finance income

7,888

6,277

1,611

Finance costs(1,674)(1,257)(417)

Profit before income taxes

110,608

Income tax expenses
Share of profits of investments accounted forusing the equity method
Profit for the period

13.8

86,346

11.7

24,262(26,320)(22,417)(3,903)

587

823

(236)

%

8.9

28.4

28.1

¥

84,875

10.6¥

64,752

8.8¥

20,12331.1¥

77,882

9.7¥

59,723

8.1¥

18,159

30.4

6,993

0.9

5,029

0.7

1,964

39.1

Profit attributable to:
Owners of the parent
Noncontrolling interests

Earnings per share attributable to owners of the parent:
Basic

¥

66.27
ュ

Diluted

-16-

¥

50.43
ュ

Kubota Corporation
and Its Subsidiaries(2) Consolidated segment informationa) Reportable segments
Information by reportable segment is summarized as follows:(Unit: millions of yen)
Farm &
Industrial
Machinery

Three months ended June 30, 2024

Revenue

External customers¥

723,200

Operating profit

¥

¥

Other

77,291¥

Consolidated

Adjustments
3,876

ュ

¥

¥

804,367

66

2

7,734

(7,802)

ュ

723,266

77,293

11,610(7,802)804,367(9,057) ¥104,394

Intersegment
Total

Water &
Environment

110,429

¥

2,971

¥

51

¥

(Unit: millions of yen)
Farm &
Industrial
Machinery

Three months ended June 30, 2023

Revenue

External customers¥

Intersegment
Total
Operating profit¥

Water &
Environment

659,179¥

74,689Other¥

Adjustments
4,609

ュ

¥

Consolidated¥

738,477

8

23

7,269

(7,300)ュ

659,187

74,712

11,878(7,300)738,477(10,532) ¥81,326

90,619

¥

875

¥

364

¥

Notes:
1. Adjustments include items such as the elimination of intersegment transfers and corporate expenses which are not allocated to any
particular reportable segment. The corporate expenses included in Adjustments consist mainly of administration department expenses,
basic research expenses, and foreign exchange gains or losses incurred by Kubota Corporation.
2. The aggregated amounts of operating profit are equal to those presented in the condensed consolidated statement of profit or loss. Pleaserefer to the condensed consolidated statement of profit or loss for the reconciliation of operating profit to profit before income taxes.
3. Intersegment transfers are recorded at values that approximate market prices.

b) Geographic information
Information about revenue from external customers by location is summarized as follows:䚷䚷Japan䚷䚷North America
䚷䚷Europe
䚷䚷Asia outside Japan
䚷䚷Other areas
䚷䚷TotalThree months ended
June 30, 2024
151,589¥353,532
92,191
178,843
28,212804,367¥(Unit: millions of yen)Three months ended
June 30, 2023
151,462¥
299,380
109,785
150,465
27,385
738,477¥

Notes:
1. Revenue from North America included that from the United States of ¥320,972 million and ¥239,133 million for the three months ended
June 30, 2024 and 2023, respectively.
2. There was no single customer from whom revenue exceeded 10% of total consolidated revenue of the Company.

-17-

Kubota Corporation
and Its Subsidiaries(3) Consolidated revenue by product group(Unit: millions of yen)

Farm Equipment and Engines¥

Three months ended
June 30, 2024

Three months ended
June 30, 2023

AmountAmount%544,856

67.7¥

ChangeAmount%502,926

68.1

¥

%

41,9308.3

Domestic

76,094

74,482

1,612

2.2

Overseas468,762

428,444

40,3189.4

22,091

14.1

178,344

Construction Machinery

156,253

22.2

21.2

Domestic

8,880

8,866

14

0.2

Overseas

169,464

147,387

22,07715.0

723,200

89.9

659,179

89.3

64,021

9.7

Domestic

84,974

10.5

83,348

11.3

1,626

2.0

Overseas638,226

79.4

575,83178.0

62,39510.8

30,7003.8

31,080

4.2

(380)

(1.2)

Farm & Industrial Machinery

Pipe system
Domestic

29,57730,171

(594)

(2.0)

Overseas

1,123

909

214

23.5

2,225

12.9

19,538Industrial products

17,3132.4

2.3

Domestic

10,504

9,456

1,048

11.1

Overseas

9,034

7,857

1,177

15.0

757

2.9

27,053

Environment

26,296

3.4

3.6

Domestic

22,65923,879(1,220)(5.1)

Overseas

4,394

2,417

1,977

81.8

77,291

9.6

74,689

10.1

2,602

3.5

Domestic

62,7407.8

63,506

8.6

(766)

(1.2)

Overseas

14,551

1.8

11,183

1.5

3,368

30.1

3,876

0.5

4,609

0.6

(733)

(15.9)

Domestic

3,875

0.5

4,608

0.6

(733)

(15.9)

Overseas

1

0.0

1

0.0

ュ

ュ

804,367

100.0

738,477

100.0

65,8908.9

Domestic

151,58918.8

151,462

20.5

127

0.1

Overseas652,77881.2

587,01579.5

65,763

11.2

Water & Environment

Other

¥

Total

-18-

¥

¥