[Translation]

Corporate Governance Report
Last updated on June 25, 2024
Representative Director: Yuichi Kitao
Contact: Shareholder Relations Section,
General Affairs Dept.
TSE Securities code: 6326
https://www.kubota.com/
The corporate governance of Kubota Corporation (hereinafter, the “Company”) is described below.

I.

Basic Policy on Corporate Governance, Capital Structure, Corporate Profile and Other Basic
Information
1. Basic Policy
The Company has designated “long-term and stable growth of corporate value” as its highest
management priority. To realize this aim, the Company considers enhancement of the satisfaction of all the
Company’s stakeholders and improvement of overall corporate value, while balancing economic value andsocial value, to be important. Especially, in order to achieve the long-term objectives of building “Global
Major Brand Kubota” on the basis of its corporate philosophy “Kubota Global Identity,” the Company must
be an enterprise that is trusted not just in Japan but also worldwide. In order to enhance the soundness,
efficiency, and transparency of management, which are essential to earn trust, the Company is striving tostrengthen its corporate governance.

[Reasons for Non-Compliance with the Principles of the Corporate Governance Code]
The Company implements all the principles of the Corporate Governance Code.

[Disclosure Based on the Principles of the Corporate Governance Code] updated
The Company’s statements here are based on the Code as it stands after its revision in June 2021.
Please refer to the “Implementation Status of Corporate Governance Code” presented at the back ofthis report for the implementation statuses for each principle set forth in the Code.
1. Corporate Philosophy (Principle 3.1.(i))
The Kubota Group (hereinafter, the “Group”) positions its corporate philosophy, the “Kubota Global
Identity,” as the foundation of its corporate management. In keeping with this philosophy, the Group makes
it its mission to continue to support the future of the earth and humanity by contributing products that help
the abundant and stable production of food, help supply and restore reliable water, and help create acomfortable living environment.
Kubota Global Identity: https://www.kubota.com/corporate/identity/index.html
2. Business Strategies, Business Plans and Sustainability Initiatives(1) Long-term business strategies (Principle 3.1.(i))
The Company’s long-term goal is to realize a Global Major Brand, or in other words a brand that canmake the greatest social contribution as a result of being trusted by the largest number of customers. In
order to accelerate the realization of this goal, the Company has created its long-term vision for 10 years-1-from now, “GMB2030” and held up “Essentials Innovator for Supporting Life,” Committed to a Prosperous
Society and Cycle of Nature as what the Company should be.
The Company aims to achieve sustainable development over the long-term by making the greatest
contribution to realization of a sustainable society through solutions to enhance the productivity and safetyof food, solutions to promote the circulation of water resources and waste, and solutions to improve urban
and living environments.
Long-Term Vision “GMB2030”: https://www.kubota.com/corporate/vision/index.html(2) Mid-term business plan (Principle 3.1.(i))
The Company has positioned the five years from 2021 to 2025 as the period for completing theestablishment of foundation for the realization of GMB2030 and formulated the Mid-term Business Plan
2025. The Company will engage in each of the following themes: (i) shift to business operations that position
ESG at the core of management; (ii) initiatives to secure candidates of growth drivers for the next generation;(iii) promotion of business strategies that take advantage of growth opportunities; (iv) improvement of profit
structure by strengthening the business foundation in the mid- term; (v) development of Infrastructure that
supports sustainable growth; (vi) promotion of DX as a common theme.
Mid-term Business Plan 2025: https://www.kubota.com/ir/corporate/plan/index.html(3) Sustainability initiatives (Principle 3.1.3)
In the corporate philosophy, KGI, the Company has adopted the brand statement “For Earth, For Life”
and promises to continue supporting the prosperous life of humans while protecting the environment of thisbeautiful earth. In order to realize KGI, the Company aims to become "Global Major Brand Kubota"(hereinafter, "GMB Kubota"), and have set forth the long-term vision GMB2030 as the vision for the year
2030.
Under GMB2030, the Company is committed to becoming an “Essentials Innovator for Supporting Life,”that is, the Company is committed to ensuring both the sustainability of the global environment and humansociety, as well as the sustainability of the Company; specifically, development of new solutions in the areasof food, water, and environment, as well as expansion of existing businesses and further adaptation tosociety. In addition, to support such business development, the Company is strengthening its managementfoundation, including business transformation with ESG at the core of the management.
Under the Company’s unique ESG management (hereinafter, “K-ESG management”) to realize
GMB2030, the Company is engaged in “Solving environmental and social problems through business” andstrengthening the business foundation to drive and support these efforts. “Solving environmental and social
problems through business” aims to address climate change through implementing new solutions andexpanding existing businesses from the following three perspectives to realize GMB2030: “Enhancing the
productivity and safety of food,” “Promoting the circulation of water resources and waste,” and “Improving
urban and living environment.” Strengthening the business foundation means “Accelerating innovation tosolve problems,” “Gaining empathy and participation of stakeholders,” and “Building governance that
increases sustainability.” The Company has identified 12 items as materiality in these four areas of business,innovation, stakeholders, and governance.
i) Environmental initiatives
The Company has selected "Mitigating and adapting to climate change" as one of the materialities of
the ESG management, and has set forth the "Environmental Vision," which sets forth the direction of its
business activities from an environmental perspective toward 2050, with the aim of contributing to therealization of a carbon-neutral and resilient society. The Company expressed its support for the TCFD
recommendations in 2020 and make every effort to expand the information disclosed.
Refer to the following for the latest TCFD disclosures:https://www.kubota.com/sustainability/environment/ghg/index.htmlii) Investment in human capital
The Company states “Initiatives to secure and strengthen human resources” in “Development of
infrastructure that supports sustainable growth,” one of the main themes for the Mid-term Business Plan-2-

2025. As the direction for the initiatives, “Strengthening human resources who support sustainable growthof the company by strengthening recruitment and cultivation, as well as providing opportunities” has beenset.
In terms of hiring, the Company maintains and continues a certain number of mid-career hires toenhance work-readiness and internal diversity without overly focusing on regular recruitment of new
graduates, and concurrently, will encourage growth and great achievements in a career track that employees
want to pursue by expanding regular recruitment of new graduates by job type.
In terms of cultivation, the Company will enrich rank-based training for new employees to senior
management level, and implement on-demand training to provide fostering opportunities to a wide rangeof human resource levels and encourage them. In addition, career design training is also provided for the
purpose of encouraging independent-minded and planned self-growth as a business person.
In terms of working styles, Kubota Smart Work has been introduced to promote flexible working styles
not restricted by time or place, such as working from home, mobile work, satellite offices, remote work andsuper flextime system. At the same time, the age of mandatory retirement has been raised from 60 to 65
from April 2022 to encourage active participation of seniors.
While confirming, in the implementation of 1-on-1 meetings, engagement survey, ESG awarenesssurvey and other efforts, whether the above initiatives work effectively, the Company will continue tostrengthen human resources.
The Kubota Group Integrated Report and the Kubota Group ESG Report also disclose the specific views
and initiatives on the human capital strategy for expanding existing businesses and implementing new
solutions businesses in the future to realize the long-term Vision 2030.
<Ensuring diversity in the promotion of core human resources, etc.>
In its Long-term Vision “GMB2030” and “Mid-term Business Plan 2025,” the Company has set“promotion of ESG management” as one of what the Company should be, and stated provision of all
stakeholders with opportunities to contribute to solving social issues through gaining empathy with andparticipation in Kubota’s business for the S (Society) of ESG.
Naturally stakeholders include employees. With regard to “empathy” and “participation,” “diversity &inclusion” in which diverse values of women, people with disabilities, foreign nationals, mid-career workers,
etc. are utilized for business operation is also regarded as an important viewpoint.
For example, the Company has introduced schemes to provide employment conditions considerate of
women’s needs such as the system for transfer, leave of absence, or re-employment after resignation fromthe Company, which was devised for cases where the employee’s spouse has transferred. The Company
established the Wemen’s ERG (Women’s Employee Rosource Group), in order to promote diversity. The
Company has set a ratio of 7.0% women among employees serving in a management role (Kubota
Corporation, currently 4.6%) as its target for 2030. In addition, the Company continues to maintain abalanced ratio between employees hired as new graduates and employees hired in mid-career. The Company
has set a ratio of 30.0% of employees hired in mid-career among employees serving in a management role
(Kubota Corporation, currently 34.8%) as its target for 2030, and the Company currently exceeds the target.
The Company will also continue aiming to improve the ratio of each employee category in management roles
through the recruitment of motivated foreign talents who hope to take on a challenge in Japan or at theCompany, and other measures.
iii) Investment in intellectual property
As one of the main themes for the Mid-term Business Plan 2025, the Company has taken up “Initiatives
to secure candidates of growth drivers for the next generation” and proceeds with establishment of thefoundation for realizing GMB2030. Also, the Company proactively devotes resources to research anddevelopment and invests in intellectual property to succeed in global competition and realize its sustainablegrowth.
Inventions, which are outcomes of research and development, and designs and brands appealing tocustomers are important management assets. The Company will make growth by globally and strategicallyestablishing rights for them as intellectual property such as patents, design rights and trademarks, andutilizing them.
In addition, the Company mitigates intellectual property risk by positioning intellectual property as a“risk management item for internal control over the basic functions of the entire Company” to respect othercompanies’ intellectual property and not to infringe it, and conducting audits.
-3-

In April 2023, we further strengthened our efforts by establishing a two-division structure for theIntellectual Property Division, consisting of the Intellectual Property Administration Department and theIntellectual Property Strategy Department.
For the status of research and development activities, the number of patents, etc. held and the status
of intellectual property risk management activities of the Company, please refer to its Securities Report(“Yukashoken Hokokusho”) and Integrated Report/ESG Report.
Securities Report:
https://www.kubota.com/ir/financial/yuho/index.html
Integrated Report / ESG Report:
https://www.kubota.com/ir/financial/integrated/index.html
Promotion of Diversity Management:
https://www.kubota.com/sustainability/employee/diversity/index.html

3. Basic Views and Guidelines on Corporate Governance (Principle 3.1.(ii))
Please see the “I. 1. Basic Policy” section of this report.
4. Roles and Responsibilities of the Board of Directors, Etc.
(1) Scope of delegation to management (Principle 4.1.1)
The Company has clearly stipulated matters requiring resolution by the Board of Directors in theRegulations of the Board of Directors and the Detailed Regulations of the Board of Directors, in addition to
those specified within the scope by laws and regulations and the Articles of Incorporation, and the importantmatters that affect the management are determined by resolution of the Board of Directors. Furthermore,from 2021, a place to discuss important issues including business strategies ("Value Up Discussion Meeting”)
has been set in order to improve corporate value over the medium to long term.
On the other hand, aiming to strengthen the management and supervisory functions and expedite
decision-making through clarification of responsibilities for execution of business operations and delegationof authority, the Company adopted the Executive Officer System, and separates supervision and execution
by delegating decision-making within an appropriate scope to Executive Officers and each member ofmanagement at a lower level in the Management Committee, etc.
(2) Views on balance of knowledge, experience and capabilities, diversity, and size of the Board of
Directors (Principle 4.11.1)
The Company configures its Board of Directors from the perspectives of maintaining a number ofmembers appropriate for ensuring effective discussions at the Meetings of the Board of Directors,
manifesting its function as a board of directors and ensuring its diversity (business domains, knowledge,
experience, areas of expertise, etc.), and maintaining soundness and transparency in management (four of
the ten Directors (one-third or more) are Outside Directors; seven of the 16 Directors attending meetings ofthe Board of Directors are outside officers).
In addition, the Company has set the Long-term Vision “GMB2030” and the “Mid-term Business Plan
2025,” which will be the foundational period for realizing the vision, and believes it is important for membersof the Board of Directors to exert respective knowledge, experience and capabilities and complement eachother based on diverse values in order to achieve the vision and plan. To this end, the Nomination Advisory
Committee in which Outside Directors have a majority deliberates the composition of the Board of Directors,
which includes a review of the skills required for the Board of Directors to appropriately and agilely perform
its function, while reflecting on management strategies, in order to ensure the Board of Directors operates
effectively. (The skills matrix is provided at the end of this report.)
Of four currently serving Independent Outside Directors, all four have management experience in othercompanies. Reasons for appointment and background are explained in each proposal for appointment statedin the Convocation Notice for the Ordinary General Meeting of Shareholders.
Convocation Notice for the General Meeting of Shareholders:
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html-4-

5. System to Fulfill the Role and Responsibilities of the Board of Directors, Etc. Appropriately(1) Policies for appointing candidates for Directors and Audit & Supervisory Board Members andmanagement (Principles 3.1 (iv), 4.9)i) Policies in the election and nomination of Directors
In its wide-ranging business domains encompassing the areas of food, water, and the environment, theCompany aims to bring about sustainable growth and increase corporate value on a Group-wide basis,
thereby engaging in appropriate decision-making and supervising operations. To such ends and inaccordance with its rules governing the Board of Directors (requirements for nominating candidates for
Directors), the Company appoints persons from inside the Company who have a wide perspective andextensive experience relating to the Company’s business management, and appoints persons from outside
the Company who have a practical and objective perspective along with deep knowledge, having satisfied
requirements for an independent officer as stipulated by the Tokyo Stock Exchange (hereinafter the “TSE”)
and requirements of the independence criteria set forth by the Company (four of the ten Directors are
Outside Directors).
[Independence Criteria for Outside Directors/Audit & Supervisory Board Members]
The Company has established the Independence Criteria for Outside Directors/Audit & Supervisory
Board Members, considering laws and regulations, and provisions of the TSE, among other regulations, toensure transparency and objectivity in the governance of the Company. The Company shall deem that an
Outside Directors/Audit & Supervisory Board Members does not satisfy independence from the Company if
any of the following items applies to that person.
1.

A person who is an executive* of the Company, or who was such an executive within the 10-year periodprior to the appointment as Outside Director.
* The term “executive” herein refers to an executive defined as a person who executes business in
Article 2, paragraph 3, item 6 of the Regulation for Enforcement of the Companies Act. It includes
executive director, senior executive officer (shikkoyakuin), executive officer and employee who
execute business, but it does not include audit & supervisory board member.

2.

A person who is an Audit & Supervisory Board Member of the Company (excluding Outside
Audit & Supervisory Board Member) or who was such an Audit & Supervisory Board Member(excluding Outside Audit & Supervisory Board Member) for the past ten years before his/her
appointment.

3.

A major business partner of the Company*, or an executive of such an organization.
* The term “major business partner of the Company” herein refers to a business partner such as amajor purchaser of the Company’s goods and services in the recent three fiscal years, whoseamount of trade with the Company in that fiscal year exceeded 2% of the consolidated revenues of
the Company for the same fiscal year.

4.

An organization whose major business partner is the Company*, or an executive of such an organization.
* The term “organization whose major business partner is the Company” herein refers to anorganization of which the Company is a business partner such as a major purchaser of its goods andservices (e.g. a supplier to the Company) in the recent three fiscal years, and the amount of tradewith the Company in that fiscal year exceeded 2% of the consolidated revenues of the organization
for the same fiscal year.

5.

A major lender to the Company*, or an executive of such an organization.
* The term “major lender to the Company” herein refers to a financial institution from whom theCompany has obtained loans in the recent three fiscal years, and the outstanding amount of theloans from the lender at the end of that fiscal year exceeded 2% of the consolidated total assets of
the Company thereat.

6.

A consultant, accounting professional or legal professional who has received economic benefits forservices exceeding ¥10 million annually other than remuneration as an officer from the Company in the-5-recent three fiscal years (or, in the case where the receiver of such benefits was an organization such asa corporation or partnership, a person affiliated with such an organization).
7.

A major shareholder of the Company*, or if the major shareholder is a corporation, an executive of sucha corporation.
* The term “major shareholder of the Company” herein refers to a shareholder who holds more than
10% of the Company’s shares on a voting-right ownership basis at the end of the relevant fiscal year,
regardless of whether the shares are held in the shareholder’s own name or in another name.

8.

A director, audit & supervisory board member, accounting advisor, executive officer (shikkoyaku) or
executive officer (shikkoyakuin) of a corporation with a relationship with the Company concerning
mutual outside Directors/Audit & Supervisory Board Members appointments.

9.

A receiver of endowments of economic benefits exceeding ¥10 million annually from the Company inthe recent three fiscal years (or, in the case where the receiver of such endowments was an organizationsuch as a corporation or partnership, an executive of such an organization).

10. A spouse or a relative within two degrees of kinship of a person (limited to persons of important
position*) set forth in above items 1 to 9.
* The term “person of important position” herein refers to a director, executive officer (shikkoyaku),
executive officer (shikkoyakuin) or any person holding a position equivalent thereto.
ii) Policies in the election and nomination of Audit & Supervisory Board Members
To adequately facilitate auditing and monitoring of management, the Company appoints persons who
have diverse experience, knowledge, expertise and insight in accordance with the Standards for Auditing by
Audit & Supervisory Board Members (the policy for selecting candidates for Audit & Supervisory Board
Members). The Company appoints half or more of the candidates from among persons who satisfy
requirements for an independent officer as stipulated by the TSE and requirements of the independence
criteria set forth by the Company, of which the Company appoints one person (certified public accountant,etc.) who has a high degree of expert knowledge and experience relating to accounting and finance (threeof the six Audit & Supervisory Board Members are Outside Audit & Supervisory Board Members).
iii) Policies in the appointment of Executive Officers
So that the Company is able to realize its long-term vision, it appropriately appoints Executive Officers
who have capabilities and experience to execute duties promptly.
(2) Procedures for nomination and dismissal of candidates for Directors and Audit & Supervisory Board
Members, and appointment and dismissal of management (Principle 3.1 (iv))i) Procedures in the election, nomination and dismissal of Directors
Appointment of Directors is implemented by resolution of the General Meeting of Shareholders after
resolution of the Board of Directors, following deliberations by the Nomination Advisory Committee (fourout of six of whose members are Outside Directors). The Nomination Advisory Committee conducts
deliberations with appropriate involvement and advice from the Outside Directors from the perspectives ofeach candidate’s eligibility (such as experience, abilities, expertise, and internationality) and diversity of theBoard of Directors.
Should reason for dismissal arise, dismissal procedures are implemented by resolution of the General
Meeting of Shareholders after resolution of the Board of Directors in accordance with the rules governing
the Board of Directors.
ii) Procedures in the election, nomination and dismissal of Audit & Supervisory Board Members
To elect the Audit & Supervisory Board Members, the candidates for Audit & Supervisory Board
Members are determined from among the candidates who are selected in accordance with the Standards
for Auditing by Audit & Supervisory Board Members (the policy for selecting candidates for Audit &Supervisory Board Members) after approval of the Audit & Supervisory Board. The candidates are electedby resolution of the General Meeting of Shareholders. Dismissal of Audit & Supervisory Board Members is-6-

implemented by special resolution of the General Meeting of Shareholders in accordance with theCompanies Act.
iii) Appointment and dismissal of Executive Officers
Appointment and dismissal of Executive Officers are implemented by resolution of the Board of
Directors in accordance with the rules governing Executive Officers.
(3) Explanation about individual nomination and election of Directors, Audit & Supervisory Board
Members and management (Principle 3.1 (v))
In accordance with the views in (1) and procedures in (2), Directors, Audit & Supervisory Board
Members and management are nominated and elected. For reasons for individual nomination as Directorand Audit & Supervisory Board Member, please refer to each proposal for appointment stated in the
Convocation Notice for the Ordinary General Meeting of Shareholders. If any reason for dismissal arises, theCompany makes a necessary explanation each time.
Convocation Notice for the General Meeting of Shareholders:
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html(4) Concurrent positions of officers (Principle 4.11.2)
The Company considers matters with respect to concurrent positions held by its Directors and Audit &Supervisory Board Members as officers of other companies upon their appointment, in order to avert
situations where such positions could act as a hindrance with respect to the Company’s business affairs. For
information regarding the concurrent positions of each Director and Audit & Supervisory Board Member,please refer to each proposal for appointment stated in the Convocation Notice for the Ordinary General
Meeting of Shareholders.
Convocation Notice for the General Meeting of Shareholders:
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html(5) Current efforts for making effective use of independent officers, etc. (Principles 4.8, 4.10.1)
Of ten Directors, four (one-third or more) are Independent Outside Directors. Subjects for discussion
and presentation materials for the Meetings of the Board of Directors are sent to all members in attendance
including Outside Directors about a week before the meetings. For Outside Directors, materials for theManagement Committee meetings held internally, etc. are also shared before a report is made to the Boardof Directors, and prior briefing sessions are held for the purpose of further deepening the understanding of
proposals such as the background business environment. Through such efforts, the Company strives tocreate an atmosphere that encourages Outside Directors to make positive contributions to the discussion at
the Meetings of the Board of Directors.
In addition, the Company has a Nomination Advisory Committee (four out of six of the members are
Outside Directors) and a Compensation Advisory Committee (four out of six of the members are Outside
Directors) in place as the advisory body of the Board of Directors. The Nomination Advisory Committee andCompensation Advisory Committee meet to deliberate on nomination of candidates for the Directors, andcompensation system and compensation level of the Directors over appropriate involvement and advice
from the Outside Directors with extensive management experience and wide perspective on matters. In bothcommittees, of which Outside Directors account for more than half of the constituent members, an Outside
Director is appointed as chairperson, and as their system, matters discussed under the lead of thechairperson are taken into account and deliberated by the Board of Directors. In addition, a place fordiscussions conducted by only Outside Directors and Audit & Supervisory Board Members, such as discussion
on evaluation of the effectiveness of the Board of Directors, is set as needed to enhance cooperation with
Audit & Supervisory Board Members.
(6) Analysis and evaluation of the effectiveness of the Board of Directors, and overview of results thereof(Principle 4.11.3)
At the end of each fiscal year, Kubota Corporation holds an evaluation of the effectiveness of the Boardof Directors for the continuous improvement of its corporate governance. The method and process of-7-

evaluation for fiscal 2023 are as follows. An overview of the results of evaluation of the effectiveness of theBoard of Directors for fiscal 2023, including the evaluation results, will be disclosed on the Company’s
website and in the Integrated Report / ESG Report in April 2024 and thereafter.
1) Process of the effectiveness of the Board of Directors[Evaluation method and process]An overview of the results of evaluation of the effectiveness of the Board of Directors for fiscal 2023,
including the evaluation results, will be disclosed on the Company’s website and in the Integrated Report /ESG Report in April 2024 and thereafter.
1) Discussion at Board of Directors Meeting (December 2023)
Based on the evaluation method and process reviewed at the time of the implementation of the third
party evaluation in fiscal 2022, after the deliberation of the Board of Directors, we determined the evaluation
method and process for 2), 3) and 4) below for fiscal 2023.
2) Questionnaire (from December 2023 to January 2024)
The questionnaire based on questions created under the guidance of a third-party organization wasgiven to all Directors and Audit & Supervisory Board Members (total 17 persons).
Evaluation major items: Overall Evaluation of the Board of Directors/Composition of the Board of
Directors/Operations of the Board of Directors/Role and Function of Members/Status of role, function, anddiscussion of the Board of Directors/Effectiveness of Committees on Nominations and Remuneration/Statusof Utilization of Effectiveness Evaluation/Self-evaluation/Gap Analysis (evaluating the level of importance ofproposals and the amount of discussion respectively on a scale of 10 and analyzing the gap)
3) Discussion by Outside Directors and Audit & Supervisory Board Members (January 2024)
Based on the results of the questionnaire above, we discussed the effectiveness of the Board of
Directors that consists of five Outside Directors and six Audit & Supervisory Board Members.
4) Discussion at Board of Directors Meeting (February/March 2024)
The evaluation results were reported at the Board of Directors Meeting held in February 2024, anddiscussion was held on the issues extracted and the direction of future initiatives. While taking into accountthe details discussed at the Board of Directors Meeting held in February, the Company determined the action
plan for fiscal 2024 at the Board of Directors Meeting in March 2024.

(7) Measures to improve understanding and knowledge necessary for Directors and Audit & Supervisory
Board Members to fulfill their role and responsibilities (Principle 4.14.2 “Policy on training for Directors
and Audit & Supervisory Board Members”)
For Outside Directors and Outside Audit & Supervisory Board Members, Kubota Corporation explains
the corporate principles (Kubota Global Identity), business strategies, business portfolio and otherinformation when they assume office and proactively provides them with opportunities to conduct
inspections of our main factories and on-site inspections overseas. In addition, Outside Directors and Outside
Audit & Supervisory Board Members can deepen their understanding of priority management issues andmedium-to-long-term objectives through preliminary briefings on the agenda for the Board of Directors
meeting, discussions conducted at the “VUDM” and other opportunities.
For Senior Executive Officers and Executive Officers, the Company holds training hosted by externalorganizations for all newly appointed officers, featuring content pertaining to laws and regulations, andcorporate governance. In addition, the Executive Officers’ Meeting is held monthly to provide directions andinformation to the officers about policies and resolutions decided by the Board of Directors. Furthermore,
to provide an opportunity for examining company-wide matters and areas other than the commissioned
area, the Company holds, as part of training, a sub-committee meeting on different from the day of the
Executive Officers’ Meeting to continue lively discussions on priority management issues and other topics insmall groups.
The Company holds multiple annual executive forums related to ESG, human rights, health and safety,
the environment, quality, public relations, legal affairs, DX, compliance, etc. for all of its Directors, Audit &-8-Supervisory Board Members, Senior Executive Officers and Executive Officers. We invite external lecturers,
etc., and continue to hold these forums for the purpose of acquiring and updating knowledge on the rapidlychanging external environment by also using online distribution.
(8) Policies and procedures in determining the remuneration of Directors and management(after FY2022) (Principle 3.1 (iii))
Currently, the Company is committed to shift to business operations with ESG positioned at the coreof management under the long ‐ term vision “GMB2030,” with the aim of further strengthening thesupervisory function of the Board of Directors. Under these circumstances, the Company reviewed the
remuneration plan for the Directors as responsibilities and expectations of the Directors are increasing. The
following is the policy for determination of remuneration, etc. and its calculation method for the Directors
and Executive Officers as of the submission date of this Corporate Governance Report.
i) Basic policy for determination of remuneration, etc. for the Directors
1) The purpose of the remuneration for the Directors, excluding Outside Directors, is to encourage the
Directors, excluding Outside Directors, to take the lead for sustainable growth while fulfilling social
responsibilities as a company aiming to become a GMB.
‐ Motivate the Directors to achieve performance targets by reflecting in their remuneration quantitativeand objective evaluation results based on financial performance indicators.
‐ Accelerate K‐ESG management initiatives by reflecting evaluation results of the progress of the K‐ESG
in remuneration of the Directors.
‐ Encourage the Directors to hold shares of the Company during their tenure and make them strongly
aware of the need to sustainably improve corporate value through a remuneration system that isclosely linked to shareholder value.
‐ Set the levels of remuneration and performance linkage so that the Directors may receive
remuneration that is equivalent to or greater than the standard remuneration at other GMB
companies defined by the Company, in line with the achievement of the performance targets and K‐
ESG, and improvement of corporate value.
2) To achieve the purpose of the remuneration, transparency and objectivity must be ensured in theadministration of the remuneration plan.
‐ Decisions on the development and administration of remuneration policies shall be reviewed by theCompensation Advisory Committee, where a majority of members are Outside Directors, before being
determined by the Board of Directors’ resolution.
‐ In order to fulfill accountability for shareholders precisely, disclosure shall be made not limited to thescope required by laws and regulations, but also to facilitate shareholders ’ understanding anddialogue with them.
ii) Remuneration structure1) Directors, excluding Outside Directors
The remuneration for the Directors, excluding Outside Directors, consists of basic remuneration, which
is fixed, and performance‐linked remuneration.
The composition ration of basic remuneration to performance‐linked remuneration for the President
and Representative Director is generally set at 1:2, to secure a high level of performance linkage suitable for
a competitive remuneration level. As for the remuneration structure for the Directors other than the
President and Representative Director, the Directors at a higher corporate rank earn a greater portion of
performance ‐ linked remuneration, given the size of their duties, etc. of each corporate rank. The
performance‐linked remuneration consists of annual bonuses intended to encourage the Directors toachieve the business size and profitability targets of each fiscal year, and stock compensation (restricted
stock unit and performance share unit) intended to share shareholder value and promote the maximizationof medium‐ to long‐term corporate value. The ratio of annual bonuses to stock compensation is generally
set at 1:1.
Overview of the elements of remuneration is as follows:・Basic remuneration: [Fixed remuneration set in proportion to the size of duties by corporate rank, etc.]‐ The individual amount of basic remuneration shall be decided at the meeting of the Board of Directors
based on the details of confirmation and deliberation by the Compensation Advisory Committee: the-9-amount of total basic remuneration divided by 12 is paid monthly on the same pay day as employees’salary.
・ Annual bonus: [Cash remuneration intended to encourage the achievement of business size andprofitability‐related performance targets set for each fiscal year and accelerate the K‐ ESG management
efforts]‐ Consists of a portion linked to company‐wide performance (50‐70% of the bonus based on corporaterank), a portion of individual evaluation (10‐30%), and portion of K‐ESG evaluation (20%).
‐ The portion linked to company‐wide performance changes between 0% and 200% of the base amountin proportion to the degree of achievement in the targeted consolidated revenue and operating profit
margin, which are key indicators under the Mid‐Term Business Plan 2025.
‐ The portion of individual evaluation changes between 0% and 200% of the base amount in proportion
to the degree of achievement in strategic company‐wide targets, specific targets in the efforts under
the Mid‐Term Business Plan 2025, financial targets for the area(s) the person is in charge of, etc. which
are set at the beginning of the fiscal year based on individual responsibilities/jurisdiction.
‐ The portion of K‐ESG evaluation changes between 0% and 200% of the base amount in proportion to
the degree of achievement in K‐ESG promotion targets set at the beginning of the fiscal year.
‐ The target setting in and the evaluation result of each evaluation category shall be decided at themeeting of the Board of Directors based on the details of confirmation and deliberation by theCompensation Advisory Committee: paid annually in March, in principle.
・Restricted stock unit: [Stock compensation intended to encourage continued shareholding while inservice / office, through which the sharing of and improvements in shareholder value are promoted]‐ The number of restricted stocks specified for each corporate rank shall be issued generally after theclosing of each fiscal year, from the trust that sets the Company as the entruster. In principle, thetransfer restriction of issued share shall be lifted at the time of retirement (which means the point oftime when they are no longer Directors or Executive Officers of the Company; the same applies
hereinafter).
・Performance share unit: [Stock compensation for the purpose of improving the shareholder value byachieving the medium‐to long‐term performance target]‐ Restricted stocks are generally issued after the end of each performance evaluation period from thetrust that sets the Company as the entruster, in accordance with the results of the financial evaluationof the three‐year performance evaluation period. In principle, the transfer restriction of issued sharesshall be lifted when Directors, etc. retire.
‐ Return on invested capital (ROIC) is used as a financial evaluation indicator to encourage themaximization of corporate value over the medium to long term through efficient profit generation on
invested capital. The number of shares to be issued in proportion to the degree of achievementchanges between 0% and 200%.
2) Remuneration level
In order to properly secure competitiveness in terms of compensation suitable for a GMB company, v
appropriately sets the level of remuneration for the Directors, excluding Outside Directors, based on theircorporate ranks and duties, by using data on objective executive remuneration surveys conducted by an
external specialized institution (“Executive Compensation Database”), etc. to identify a group of companies
whose size, profitability, type of business, overseas networks, etc. are comparable to the Company as abenchmark for comparison.
3) Shareholding guideline
For the purpose of deepening the level of shared value with its shareholders, the Company
encourages the Directors, excluding Outside Directors, to hold the Company’s stock basically as follows:
President and Representative Director:
stock worth three times the basic remuneration by five years from taking office
Other Directors:
stock worth 2.4 to 2.7 times the basic remuneration by five years from taking office4) Clawback / recovery of remuneration, etc. (malus and clawback clauses)
The Company has compensation clawback clauses (i.e. malus and clawback clauses) for the restricted
stock unit and the performance share unit to be granted to the Directors. If an incident of misconduct, etc.
involving the Directors (including those retired) of the Company arises or such a fact comes to light, the- 10 -

Company may claim the return, etc. of a pre‐issue points to receive shares, and all or part of the issued
restricted stock and shares after the transfer restriction is lifted. The decision on claims for return, etc. andtheir details shall be reviewed by the Compensation Advisory Committee before being determined by the
Board of Directors’ resolution.
5) Remuneration determination process
The Company’s policy on the decision of the details of remunerations for the Directors and the details
of individual remuneration, etc. shall be decided by the resolution of the Board of Directors based on the
result of objective deliberation by the Compensation Advisory Committee, of which a majority of whose
members are Outside Directors.
The review by the Compensation Advisory Committee shall be attended or observed by acompensation advisor, an external specialized institution, where necessary, for the purpose of providing an
objective point of view as well as expert knowledge and information concerning compensation plans.
Securities Report:
https://www.kubota.com/ir/financial/yuho/index.html
6. Constructive Dialogue with Shareholders (Principle 5.1)
The Company, recognizing that constructive dialog with shareholders and investors contributes to theimprovement of the Company’s sustainable growth and medium- to long-term corporate value, regularly
stays abreast of the shareholder composition, makes timely and appropriate disclosure of a wide range of
information ranging from financial information to non-financial information and promotes constructive
dialog with shareholders and investors.
The policies for development of systems and operations for this activity are as follows.
(i) Basic policy
The Company holds briefings where the President and General Manager of Planning & Control
Headquarters present the business conditions, business strategy, and results of operation, with the aim ofpromoting constructive dialogue with domestic and foreign institutional investors.
Furthermore, the Company promotes two-way communication, such as timely disclosure to all
stakeholders including individual investors through active use of the Company website and executing
questionnaire surveys and so on.
(ii) IR organizational structure
General Manager of Planning & Control Headquarters is in overall charge of directing and promoting IR.
The department in charge of IR plays a central role in developing its IR activities through organic coordination
with each related department, such as Corporate Planning & Control Dept., Accounting Dept., Secretary andPublic Relations Dept., ESG Promotion Dept., General Affairs Dept. and Legal Dept.
(iii) Internal Feedback
Subjects of dialogue with investors are regularly reported back to the Board of Directors, the Executive
Officers’ Meeting, and relevant departments.
(iv) Dialog with institutional investors and analysts
The Company holds individual and group meetings and results briefings with institutional investors andanalysts. In addition, the Company discloses the results materials and the results briefings materials in both
English and Japanese at the same time, and regularly holds tours and briefings on business operations inJapan and overseas.
(v) Dialog with individual shareholders and investors
The Company aims to promote lively communication through hosting various events for individual
shareholders.
In addition to holding company information sessions for individual investors to provide an opportunity
for the management and individual investors to directly engage in dialog, the Company also works on public
relations to improve understanding of the Company’s business activities.
(vi) Policy for insider information management when engaging in dialogue- 11 -

Insider information, such as any undisclosed material facts, is not conveyed at the meetings withinvestors. The following section describes the structure and procedures regarding the timely disclosure of
the Company information.
1) Financial Information Disclosure Committee
The Company has established the Financial Information Disclosure Committee so as to monitor andcontrol important financial and non-financial information disclosure and, thereby, ensure its fairness,correctness, timeliness, and comprehensiveness. The committee consists of a committee chairperson, who
is General Manager of Planning & Control Headquarters; committee members, who are General Manager or
Deputy General Manager of Corporate Compliance and Risk Management Headquarters, General Manager
or Deputy General Manager of Human Resources and General Affairs Headquarters, Director in charge of
ESG Promotion or General Manager of ESG Promotion Dept., General Manager of Corporate Planning &Control Dept., General Manager of Secretary and Public Relations Dept., General Manager of Accounting
Dept., and General Manager of Corporate Auditing Dept. and members who are appointed by the committee
chairperson as necessary; and observers, who are one full-time Audit & Supervisory Board Members andone Audit & Supervisory Board Members specializing in Finance. The committee meets periodically inorder to draft and assess the Annual Securities Reports (“Yukashoken Hokokusho”), the Quarterly Reports(“Shihanki Hokokusho”), Integrated Report and ESG Report pursuant to the Financial Instruments andExchange Act. And the committee also meets in response to extraordinary events such as important
decisions and material facts that must be disclosed immediately.
In accordance with the intent and meaning of fair disclosure rules set out in the Financial Instruments
and Exchange Act, the Company takes all reasonable care to avoid selective disclosure of information, suchas by simultaneously releasing Japanese and English versions of results briefing materials with attachedexplanations and the minutes of question and answer sessions via the corporate website, and by working toenhance the timely and fair disclosure of information in order to promote proactive dialogue with investors.
2) Company regulations for information disclosure
The Company has declared that “The Kubota Group makes appropriate and timely disclosure ofcorporate information and fulfills its responsibilities for transparency and accountability in corporate
activities” in the “Kubota Group Charter for Action” and has stipulated “Appropriate and Timely Disclosureof Corporate Information” and “Prohibition of Insider Trading” in the “Kubota Group Code of Conduct.”
The Company strives to promote awareness and ensure thorough efforts in regard to the “Kubota Group
Code of Conduct” and prevention of insider trading before it occurs through conducting education tailoredto each management level within the Company.
7. Basic Strategy for Capital Policy, Policy for Cross-Shareholdings, and Standards for Exercise of Voting
Rights (Principles 1.3, 1.4)
(1) Basic strategy for capital policy
The Company’s basic strategy for capital policy is to fully utilize capital in order to improve profitability,
maintain an adequate level of capital to support future business expansion, and work to further enhanceshareholder returns. The Company will strive to sustainably enhance shareholder value with the wellbalanced promotion of the three aforementioned policies.
(2) Policy for cross-shareholdings
The Company believes it is necessary to cooperate with various companies in every business process,such as product development, manufacturing, distribution, sales, service, and funding, to succeed in global
competition and realize its sustainable growth and improvement of corporate value over the medium to longterm. From this perspective, the Company maintains cross-shareholdings based on comprehensive
consideration of business relationships and the business strategies.
The Company’s policy for cross-shareholdings is to examine each individual share at the Meetings ofthe Board of Directors every year to see whether or not the shareholding is appropriate, based oncomprehensive consideration of the holding purpose, benefits and risks involved in the shareholdings andothers, and decrease its shareholdings gradually in light of the market environment and other factors when
it determines that maintaining them is no longer appropriate.
Based on the policy, the Company sold ¥11.6 billion of its shares in the fiscal year ended December 31,
2023.
- 12 -

(3) Standards for exercise of voting rights
When the Company exercises voting rights, it does not make its decisions uniformly by criteria basedon a short-term perspective but rather comprehensively considers the proposals from the perspective ofwhether they will contribute to sustainable growth of the issuing company and improvement of corporate
value over the medium to long term, whether they could be detrimental to shareholder value, and others.
8. Responsibilities of Corporate Pension Funds as Asset Owners (Principle 2.6)
To ensure pension payments to its employees, the Company manages plan assets through Kubota
Corporate Pension Fund from the medium- to long-term perspective.
Decisions on asset management are made at the Executive Board of Kubota Corporate Pension Fund inconsideration of deliberations and reports by the Asset Management Committee.
Personnel such as department heads of the accounting department and the human resources
department of the Company, who have appropriate qualifications, and executive members of the labor
union, as a representative of beneficiaries, have been assigned to the Asset Management Committee andthe Executive Board of Kubota Corporate Pension Fund. In addition, specialist capabilities and insight aresupplemented through the use of external advisers.
The Asset Management Committee monitors the entrusted asset management companies
semiannually from the perspectives of investment products, their performance and others.
9. Procedures for Approval for Transactions Among Related Parties (Principle 1.7)
Based on the Companies Act and the rules governing the Board of Directors, the Board of Directors may
approve transactions that represent a conflict of interest between the Company and the Directors after
receiving reports of material facts, such as the content of transactions and transaction amount (maximum
amount). Furthermore, the Company reports the actual results to the Board of Directors.
Transactions with major shareholders are reported to the Board of Directors as needed, and the
Directors and the Audit & Supervisory Board Members review them so as not to harm the common interestsof shareholders.
10. 【Action to Implement Management that is Conscious of Cost of Capital and Stock Price】【Disclosed
in English】
For these several years, we have been pursuing a financial and capital strategy that is conscious of
Return on Invested Capital (ROIC) for the purpose of more properly managing capital efficiency, and havelinked ROIC to a portion of executive remuneration. We have also set Return on Equity (ROE) as one of ourmanagement indicators, and are working to improve it toward the target of maintaining at least 10%
throughout the 2021-2025 period and achieving at least 11% by 2025 as set forth in our “Mid-Term Business
Plan 2025.”
For the detailed information, please refer to pages 38 to 41 of the Kubota Group Integrated Report 2024.
https://www.kubota.com/ir/financial/integrated/index.html

2. Capital Structure
Foreign Shareholding Ratio

More than 30%[Status of Major Shareholders]Name / Company Name
The Master Trust Bank of Japan, Ltd. (Trust Account)
Custody Bank of Japan, Ltd. (Trust Account)
Nippon Life Insurance Company
Meiji Yasuda Life Insurance Company
Sumitomo Mitsui Banking Corporation
Mizuho Bank, Ltd.
Moxley & Co. LLC
BNYM TREATY DTT 15- 13 -

Number of Shares Held
189,908,700
65,222,836
62,542,265
59,929,501
36,006,000
31,506,000
21,332,483
20,379,987

Percentage (%)
16.14
5.54
5.32
5.09
3.06
2.68
1.81
1.73

STATE STREET BANK WEST CLIENT － TREATY 505234
MUFG Bank, Ltd.

19,842,589
18,156,729

Controlling Shareholder (except for Parent Company)-

Parent Company

None

1.69
1.54

Supplementary Explanation-

3. Corporate Attributes
Listed Stock Market and Market Section

Tokyo Stock Exchange, Prime Market

Fiscal Year-End

DecemberType of Business

Machinery

Number of Employees (consolidated)

More than 1,000

as of the End of the Previous Fiscal Year
Revenues (consolidated)

More than ¥1 trillion

as of the End of the Previous Fiscal Year
Number of Consolidated Subsidiaries

From 100 to less than 300

as of the End of the Previous Fiscal Year

4. Policy on Measures to Protect Minority Shareholders in Conducting Transactions with Controlling
Shareholder
5. Other Special Circumstances which may have Material Impact on Corporate Governance-- 14 -

II. Business Management Organization and Other Corporate Governance Systems regarding
Decision-making, Execution of Business, and Oversight in Management
1. Organizational Composition and Operation
Organization Form

Company with Audit & Supervisory Board[Directors]
Maximum Number of Directors

13

Stipulated in Articles of Incorporation
Term of Office Stipulated in Articles of Incorporation

1 yearChairperson of the Board

President

Number of Directors

10Election of Outside Directors

ElectedNumber of Outside Directors

4

Number of Independent Directors

4Outside Directors’ Relationship with the Company (1)NameAttribute

Relationship with the Company*
a

b

c

d

e

f

g

h

i

j

k

Yuzuru Matsuda
From another company
Yutaro Shintaku
From another company
Kumi Arakane
From another company
Koichi Kawana
From another company* Categories for “Relationship with the Company”* “○” when the Director presently falls or has recently fallen under the category;“△” when the Director fell under the category in the past
* “●” when a close relative of the Director presently falls or has recently fallen under the category;“▲” when a close relative of the Director fell under the category in the pasta. Executive of the Company or its subsidiaries
b. Non-executive Director or executive of a parent company of the Company
c. Executive of a fellow subsidiary company of the Company
d. A party whose major client or supplier is the Company or an executive thereof
e. Major client or supplier of the Company or an executive thereof
f. Consultant, accountant or legal professional who receives a large amount of monetary consideration orother property from the Company besides compensation as a Director
g. Major shareholder of the Company (or an executive of the said major shareholder if the shareholder is alegal entity)
h. Executive of a client or supplier company of the Company (which does not correspond to any of d, e, or f)(the Director himself/herself only)
i. Executive of a company, between which and the Company Outside Directors/Audit & Supervisory Board
Members are mutually appointed (the Director himself/herself only)
j. Executive of a company or organization that receives a donation from the Company (the Director
himself/herself only)
k. Others- 15 -

Outside Directors’ Relationship with the Company (2)Name
Yuzuru Matsuda

Designation as
Independent
Director○

Supplementary
Explanation of
the Relationships―

Yutaro Shintaku○―- 16 -

Reasons for Appointment
As the person responsible for medical researchat Kyowa Hakko Kogyo Co., Ltd. (then), Yuzuru
Matsuda worked on organizational reforms toa research system, and after becoming
President and Chief Operating Officer there, heoversaw a management merger with Kirin
Pharma Company (then). Even after themerger, as President and Chief Executive
Officer of the new company, Kyowa Hakko
Kirin, he demonstrated firm leadership in
directing employees from both of the merged
companies. He has extensive experience inmanagement and a wide range of expertise.
Moreover, he actively offers advice regarding
Kubota’s overall management from a broader
perspective at meetings of the Board of
Directors. He has also contributed to theimprovement of effectiveness in his role aschair of both the Nomination Advisory
Committee and Compensation Advisory
Committee. He was nominated as a candidate
for Outside Director based on the judgmentthat he has the ability to continue tocontribute to the sustainable growth andimprovement of corporate value of theCompany. Moreover, since he satisfies therequirements for an independent officer as
stipulated by the TSE and requirements of the
independence criteria set forth by theCompany, the Company judged that there is norisk of a conflict of interest with ordinary
shareholders.
Yutaro Shintaku has a high degree of skill andan impressive track record as a manager who
is able to read trends. During his time as
President and Representative Director ofTerumo Corporation, he took a number ofmeasures to ensure the company could
overcome intense international competition,
including global expansion, M&As, andrestructuring of the company’s businessportfolio. Moreover, he actively offers advice,
particularly based on his knowledge of capital
policies at meetings of the Board of Directorsof Kubota Corporation, while also playing aproper role with respect to management
oversight. He was nominated as a candidate
for Outside Director based on the judgmentthat he has the ability to continue tocontribute to the sustainable growth andKumi Arakane○―

Koichi Kawana―- 17 -

improvement of corporate value of theCompany. Moreover, since he satisfies therequirements for an independent officer as
stipulated by the TSE and requirements of the
independence criteria set forth by theCompany, the Company judged that there is norisk of a conflict of interest with ordinary
shareholders.
At KOSÉ Corporation, after being appointed asa researcher to work on fundamental
cosmetics research, Kumi Arakane’s career has
covered assignments in charge of a wide rangeof fields, including product development, R&D,
quality assurance, and purchasing. She has
experience in being involved in management
as a director. She also possesses knowledge
relating to auditing the execution of duties as afull-time auditor. Moreover, she actively offers
advice from various perspectives at meetingsof the Board of Directors of Kubota
Corporation, while also playing a proper rolewith respect to management oversight.
She was nominated as a candidate for Outside
Director based on the judgment that she has
the ability to continue to contribute to thesustainable growth and improvement ofcorporate value of the Company. Moreover,since she satisfies the requirements for an
independent officer as stipulated by the TSE
and requirements of the independence criteria
set forth by the Company, the Company
judged that there is no risk of a conflict ofinterest with ordinary shareholders.
Koichi Kawana’s career has involved
responsibility for a business site outside Japanfor JGC HOLDINGS CORPORATION, and he iswell-versed in international business. In 2011,
he was appointed as Representative Director
and President there, and led megaprojects
inside and outside Japan and business
investment in infrastructure fields. He
possesses extensive expertise and experiencein management. He was nominated as a
candidate for Outside Director based on the
judgment that he has the ability to contributeto the sustainable growth and increased
corporate value of the Company as well as
strengthening supervisory functions of Kubota
Corporation’s Board of Directors drawing on
his deep insight. Moreover, since she satisfies
the requirements for an independent officer as
stipulated by the TSE and requirements of the
independence criteria set forth by theCompany, the Company judged that there is norisk of a conflict of interest with ordinary
shareholders.

Voluntary Establishment of Committee(s)Corresponding to Nomination Advisory
Committee or Compensation Advisory
Committee

Established

Committee’s Name, Composition, and Attributes of Chairperson
Committee Corresponding toCommittee Corresponding toNomination Committee

Remuneration Committee

Committee’s Name

Nomination Advisory Committee

Compensation Advisory Committee

All Committee Members

66

Full-time Members

00Internal Directors

22

Outside Directors

44Outside Experts

0

0

Other

0

0

Chairperson

Outside Director

Outside Director

Supplementary Explanation
The Company has a voluntary Nomination Advisory Committee and Compensation Advisory
Committee in place as the advisory body of the Board of Directors.
To incorporate the independent and objective standpoint, Outside Directors account for morethan half of constituent members of both committees, and an Independent Outside Director serves
as chairperson of the committees.
■ Activity Report of the Nomination Advisory Committee(Period: Period: January 1, 2023 December 31, 2023)
The Nomination Advisory Committee met three times during the fiscal year for the purpose ofdeliberating the nomination of candidates for Directors and the nomination of Advisers. The
committee is also looking at the composition and diversity of the Board of Directors using the skills
matrix. Starting in fiscal 2022, the committee has added matters related to electing as well as
dismissing a president along with succession planning to its agenda and is actively discussing thequalities and abilities required of the Company’s top management in addition to training methods.
Composition of Members (as of March 22, 2024)
Those in brackets [ ] indicate attendance in 2023.
•Outside Director Yuzuru Matsuda [3/3 100%](Chairperson)•Outside Director Yutaro Shintaku [3/3 100%]•Outside Director Kumi Arakane [3/3 100%]•Outside Director Koichi Kawana [3/3 100%*] *Appointed as a member on March 24, 2023
•President and Representative Director Yuichi Kitao [3/3 100%]•Executive Vice President and Representative Director Masato Yoshikawa [3/3 100%]- 18 -(Activities)
April 2023

Deliberation on the operation of the Nomination Advisory
Committee for fiscal 2023

August 2023

Deliberation on consideration status of the president’s succession
planning
Reporting on the progress of the president’s evaluation sheet

October 2023

Deliberation on the candidates for Directors and Advisors■Activity Report of the Compensation Advisory Committee(Period: Period: January 1, 2022 December 31, 2022)
The Compensation Advisory Committee met seven times during the fiscal year for the purpose ofdeliberating on both the consistency of levels of compensation paid to the Directors, Senior Executive
Officers, Executive Officers, and Advisers, and the adequacy of the compensation system. In order torealize the Company’s vision as set forth in Long-term Vision “GMB2030,” the current remuneration
plan sets competitive remuneration levels appropriate for the GMB Company and incorporates anevaluation system that is strongly linked to growth over the short, medium and long term.
Composition of Members (as of March 22, 2024)
Those in brackets [ ] indicate attendance in 2023.
•Outside Director Yuzuru Matsuda [7/7 100%](Chairperson)•Outside Director Yutaro Shintaku [7/7 100%]•Outside Director Kumi Arakane [7/7 100%]•Outside Director Koichi Kawana [4/4 100%*] *Appointed as a member on March 24, 2023
•Executive Vice President and Representative Director Masato Yoshikawa [100%]•Director and Senior Managing Executive Officer Shingo Hanada [ - *]*Appointed as a member on January 1, 2024••Outside Audit & Supervisory Board Member Yuichi Yamada [100%] (Observer)(Activities)
January 2023

Deliberation on the president’s evaluation for fiscal 2022 and setting
targets for the president for fiscal 2023

February 2023

Deliberation on the annual bonuses for fiscal 2022

March 2023

Deliberation on setting targets for each of the evaluation indicators forfiscal 2023

April 2023

Deliberation on the operation of the Compensation Advisory
Committee for fiscal 2023

October 2023

Deliberation on the selection of comparative company group for
remuneration benchmark

November 2023

Reverification of the current remuneration plan and deliberation on
setting remuneration standards for fiscal 2024

December 2023

Deliberation on the policy for determining remuneration of Directors
for fiscal 2024 and the remuneration amount- 19 -

[Audit & Supervisory Board Members/Audit & Supervisory Board]
Establishment of Audit & Supervisory Board

Established

Maximum Number of Audit & Supervisory Board
Members Stipulated in Articles of Incorporation
Number of Audit & Supervisory Board Members

6
6

Cooperation among Audit & Supervisory Board Members, Independent Auditors and Internal Audit
Departments
Internal audit departments and Independent Auditors of the Company report audit plans and theresults of audits to the Audit & Supervisory Board periodically, and, as needed. Furthermore, the Company
has a system for exchanging information between internal audit departments and the Independent Auditors
as necessary to make audit activities more efficient.
Election of Outside Audit & Supervisory Board Members

ElectedNumber of Outside Audit & Supervisory Board Members

3

Number of Independent Audit & Supervisory Board
Members- 20 -

3

Outside Audit & Supervisory Board Members’ Relationship with the Company (1)NameAttribute

Relationship with the Company*
a

b

c

d

e

f

g

h

i

j

k

l

m

Yuichi Yamada
CPA
Yuri Furusawa
Other
Keijiro Kimura
lawyer* Categories for “Relationship with the Company”* “○” when the Director presently falls or has recently fallen under the category;“△” when the Director fell under the category in the past
* “●” when a close relative of the Director presently falls or has recently fallen under the category;“▲” when a close relative of the Director fell under the category in the pasta. Executive of the Company or its subsidiaries
b. Non-executive Director or accounting advisor of the Company or its subsidiaries
c. Non-executive Director or executive of a parent company of the Company
d. Audit & Supervisory Board Member of a parent company of the Company
e. Executive of a fellow subsidiary company of the Company
f. A party whose major client or supplier is the Company or an executive thereof
g. Major client or supplier of the Company or an executive thereofh. Consultant, accountant or legal professional who receives a large amount of monetary consideration orother property from the Company besides compensation as an Audit & Supervisory Board Member
i. Major shareholder of the Company (or an executive of the said major shareholder if the shareholder is alegal entity)
j. Executive of a client or supplier company of the Company (which does not correspond to any of f, g, or h)(the Audit & Supervisory Board Member himself/herself only)
k. Executive of a company, between which and the Company Outside Directors/Audit & Supervisory Board
Members are mutually appointed (the Audit & Supervisory Board Member himself/herself only)
l. Executive of a company or organization that receives a donation from the Company (the Audit &Supervisory Board Member himself/herself only)
m. Others
Outside Audit & Supervisory Board Members’ Relationship with the Company (2)Name

Yuichi Yamada

Designation as
Independent
Audit &
Supervisory
Board Member○

Supplementary
Explanation of
the Relationships―- 21 -

Reasons for Appointment

As a certified public accountant, Yuichi
Yamada possesses considerable
knowledge in finance and accounting.
He has an extensive experience and arecord of accomplishments in corporate
auditing while serving at a major audit
firm, and possesses extensive expertiseon auditing in general through activities
such as working as an outside audit &supervisory board member for othercompanies. Although he has neverdirectly engaged in corporate
management, he is nominated as a
candidate for Outside Audit &Yuri Furusawa○―

Keijiro Kimura○―- 22 -

Supervisory Board Member based on the
judgment that he will contribute to thefurther enhancement of auditing
processes of the Company through his
expert point of view and from an
independent standpoint. Moreover, since
he satisfies the requirements for an
independent officer as stipulated by the
TSE and requirements of the
independence criteria set forth by theCompany, the Company judged that there
is no risk of a conflict of interest withordinary shareholders.
Ms. Furusawa has experience in Japanand overseas in various roles working forcentral governmental agencies andpossesses a broad perspective andextensive knowledge. Furthermore, shegained global experience through being
involved in overseas businessdevelopment at a company, and she wasinvolved in reforming work styles andpromoting the empowerment of womenand diversity at the center of thegovernment. Therefore, despite nothaving been directly involved in corporate
management, the Company judged that
she can contribute to further enhancing
its auditing processes with her wide rangeof experience, through her expert
viewpoints and from an independent
standpoint. Moreover, since she satisfies
the requirements for an independent
officer as stipulated by the TSE andrequirements of the independence
criteria set forth by the Company, theCompany judged that there is no risk of aconflict of interest with ordinary
shareholders.
Mr. Kimura possesses a wealth ofknowledge in legal affairs. He also has anextensive record of practice in corporate
legal affairs at attorney offices andconsiderable experience and knowledge
acquired by assuming office as an outside
auditor for several companies. Therefore,
despite not having been directly involvedin corporate management, the Company
judged that he can contribute to further
enhancing its auditing processes throughhis expert viewpoints and from an
independent standpoint. Moreover, since
he satisfies the requirements for an
independent officer as stipulated by the
TSE and requirements of the
independence criteria set forth by theCompany, the Company judged that there
is no risk of a conflict of interest withordinary shareholders.
[Independent Directors/Audit & Supervisory Board Members]
Number of Independent Directors/Audit & Supervisory
Board Members

7

Matters relating to Independent Directors/Audit & Supervisory Board Members
The Company reported to the TSE that all members of the Outside Directors and the Outside Audit &Supervisory Board Members are the Independent Directors and Audit & Supervisory Board Members definedby the TSE.

[Incentives]
Incentive Policies for Directors

Performance-linked Remuneration and others

Supplementary Explanation
Please refer to the Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the
Corporate Governance Code], 5. (8) Policies and procedures in determining the remuneration of Directors
and management.
Recipients of Stock Options-

Supplementary Explanation[Director Remuneration]
Disclosure of Individual Directors’ Remuneration

Selected Directors

Supplementary Explanation

Title
Directors (excluding Outside Directors)
Audit & Supervisory Board Members (excluding
Outside Audit & Supervisory Board Members)
Outside Directors
Outside Audit & Supervisory Board Members

Number6
3

Total¥905 million¥131 million

4
3¥95 million¥50 million

The Company discloses the remunerations for the Directors who received ¥100 million or more as total
consolidated compensation in the Annual Securities Report (“Yukashoken Hokokusho”).
The above includes the remuneration of two Internal Directors who retired at the conclusion of the 133rd
Ordinary General Meeting of Shareholders held on March 24, 2023.
- 23 -

Policy on Determining Remuneration Amounts andCalculation Methods

Established

Disclosure of Policy on Determining Remuneration Amounts and Calculation Methods
Please refer to the Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the
Corporate Governance Code], 5. (8) Policies and procedures in determining the remuneration of Directors
and management.
[Support Systems for Outside Directors and/or Audit & Supervisory Board Members]
The Company has established a system to support Outside Directors at the section in charge ofsecretariat of the Board of Directors and the Nomination & Remuneration Advisory Committee. This section
provides various information and assists duties of Outside Directors to ensure smooth operation.
The Company has established a system to assist the Outside Audit & Supervisory Board Members at thesection in charge of secretariat of the Audit &Supervisory Board. This section constantly supports the audits
conducted by the Outside Audit & Supervisory Board Members.

- 24 -

2. Matters Related to the Functions of Business Execution, Auditing, Oversight, Nomination, andRemuneration Decisions (Overview of Current Corporate Governance System) The Board of Directors makes company-wide strategic decisions and oversees the execution of duties by
the Executive Officers. It consists of ten Directors (four of whom are the Outside Directors).
In addition to its regular monthly board meetings, it also meets as and when required, to discuss and makedecisions with regard to management planning, financial planning, investment, business restructuring,
governance, and other important management issues.
Meetings of the Board of Directors were held 13 times in fiscal 2023, that commenced on January 1, 2023
and ended on December 31, 2023, and the attendance rate was 100%.
 The Company periodically holds the “Value Up Discussion Meeting,” where the members of the Board of

Directors discuss topics that contribute to the company’s sustainable growth and enhancing corporate
value in the medium to long term. The VUDM is positioned as a place not for decision-making but for
exchanging opinions and sharing information, and the contents of discussions are communicated to the
Executive Officers as appropriate.
 The Audit & Supervisory Board oversees and audits the execution of duties by the Directors. It consists of
six Audit & Supervisory Board Members (three of whom are Outside Audit & Supervisory Board
Members).
In addition to its regular monthly Audit & Supervisory Board Meetings, it also meets as and when required,to discuss and make decisions with regard to auditing policy, audit reports, and other matters.
The main matters considered by the Audit & Supervisory Board are the audit policies and division ofduties, status of the establishment and operation of internal control systems, evaluation of the
Independent Auditor and determining their reappointment, the audit report and other matters. In
accordance with the audit policies, division of duties, and standards for the Audit & Supervisory Board
Members as established by the Audit & Supervisory Board, the Audit & Supervisory Board Members
communicated with the Directors, the internal audit department, employees, and others; committed togathering information and enhancing the audit environment; attended meetings of the Board of Directors
and other important meetings; received reports from the Directors, employees, and others regarding theperformance of their duties; requested explanations as necessary; inspected important documents
supporting decisions and other records; and examined the status of operations and assets at the head
office and important operating locations.
In addition, the Audit & Supervisory Board Members periodically received reports from the Directors,
employees, and others regarding the status of the development and operation of internal control systems;
requested explanations as necessary; and expressed opinions.
The Audit & Supervisory Board Members concurrently serve as Audit & Supervisory Board Members ofmajor subsidiaries and equity method affiliates in Japan and audit the execution of management
according to the audit policies and plans established by the Audit & Supervisory Board. In addition, fulltime Audit & Supervisory Board Members have been placed at some of the main subsidiaries in Japan inorder to strengthen the monitoring system of the subsidiaries and the Kubota group’s internal control
system.
As for the overseas locations, the Audit & Supervisory Board conducted on-site audits of key locations inNorth America, Europe, Asia and Australia. Also, the Audit & Supervisory Board, in a part of overseas
subsidiaries, conducted audits through online meetings as well as the on-site audits .
The Audit & Supervisory Board monitored and verified whether the Independent Auditor madeappropriate audits while maintaining its independence. In addition, the Audit & Supervisory Board
received reports from the Independent Auditor on its operations and requested explanations whennecessary.
 The Company has adopted the Executive Officer System in order to strengthen business execution by eacharea and workplace, and make prompt and appropriate business decisions.
In addition, the Company has established the ESG Management Strategy Meeting, the Management
Committee and the Investment Council to make decisions and deliberate on specific important issues.

- 25 -

The ESG Management Strategy Meeting formulates policies and evaluates major measures for therealization of the long-term vision of the Company, GMB2030, and the creation of medium to long-term
corporate value.
 The Management Committee deliberates and make decisions on important management issues, such as
investments and loans, in accordance with the mid-term business plan. Of the management issues
deliberated by the Management Committee, important issues are reported to the Board of Directors.
The Investment Council serves as an advisory body to the President on issues which requires authorizationof the President and certain special issues, excluding items discussed by the Management Committee.
 In addition, the Company has a Nomination Advisory Committee (four out of six of the members are
Outside Directors) and a Compensation Advisory Committee (four of six of the members are Outside
Directors) in place, to give advice to the Board of Directors.
 The Nomination Advisory Committee and Compensation Advisory Committee meet to deliberate on
nomination of candidates for the Directors, and compensation system and compensation level of the
Directors over appropriate involvement and advice from the Outside Directors. The Company appointed
Deloitte Touche Tohmatsu LLC (“DTT”) as Independent Auditors of the Company. The certified public
accountants (CPAs) belonging to DTT, Mr. Takashige Ikeda, Mr. Takeshi Io, and Mr. Akira Kimotsuki, audit
the financial statements of the Company. In addition, 35 other CPAs, 7 successful candidates of CPAs, and54 other staff members assist in the execution of the audits as instructed by the above three CPAs.
 Pursuant to Article 427, Paragraph 1 of the Companies Act, the Company enters into Liability Limitation
Agreements with each of the Outside Directors and the Outside Audit & Supervisory Board Members,
which limit the maximum amount of their liabilities owed to the Company arising in connection with theirfailure to perform their duties as long as they are acting in good faith and without significant negligence,
to the extent permitted by the laws and regulations.

3. Reasons for Adoption of Current Corporate Governance System
The organizational form of the Company is a Company with Audit & Supervisory Board.
The Company has appointed four persons, who have a wealth of experience in corporate management
and considerable insight, as the Outside Directors.
In addition, as the Outside Audit & Supervisory Board Members, the Company also has appointed
persons who are in an independent position and have knowledge of finance, accounting, law and corporate
management, etc.
The supervision system of the Board of Directors, including the Outside Directors, and the auditing
system of the Audit & Supervisory Board Members are functioning adequately in monitoring the Company’s
management. Accordingly, the judgment of the Company is that its current corporate governance system isthe most suitable for the corporate management of the Company.

- 26 -

III. Implementation of Measures for Shareholders and Other Stakeholders
1. Measures to Encourage Active Participation and Discussion at the General Meeting of Shareholders
and Smooth Exercise of Voting Rights
Supplementary Explanation
Early Notification of General
Meeting of Shareholders

Scheduling General Meetingof Shareholders Avoiding thePeak Day

Allowing Electronic Exercise of
Voting Rights
Participation in Electronic
Voting Platform for
Institutional Investors

Providing (Summary)Convocation Notice in English

OthersThe Company sends the Convocation Notice three weeks before the date of
the General Meeting of Shareholders in principle so that shareholders cansecure a sufficient review period for proposals for the meeting. Furthermore,
the Convocation Notice is disclosed approximately one month before thedate of the General Meetings of Shareholders in principle from the viewpointof early disclosure.
To enhance constructive dialogues with shareholders, the Company avoids
the expected day on which many companies hold meetings of shareholders
as much as possible when it sets the date for its General Meeting of
Shareholders. Moreover, the President and Representative Director himself
serves as chairperson in principle and endeavors to conduct dialogues withshareholders to the extent possible.
The Company adopts a system for exercising voting rights via the Internet
and enables shareholders to exercise these rights through their computers.
The Company uses the “Electronic Voting Platform” operated by trust banks
and ICJ, Inc. in an effort to ensure the convenience of all the shareholders
including those who cannot attend the General Meeting of Shareholders on
the day. In addition, the Company also enables exercise of voting rights using
smartphones.
The Company translates the full text of the Convocation Notice into English
to provide information necessary for institutional investors and overseas
investors to exercise voting rights. Furthermore, it is disclosed on the“Electronic Voting Platform” operated by ICJ, Inc. and the Company’s website
at least three weeks before the date of the General Meeting of Shareholders.
In order to promote mutual communication with as many shareholders as
possible, the Company accepts questions in advance through the Internet
and answers on or after the date of the General Meeting of Shareholders.
Moreover, the Company also provides live streaming for shareholders who
are not able to attend the General Meeting of Shareholders at the venues.

- 27 -

2. IR Activities
Supplementary Explanation
Preparation andAnnouncement ofDisclosure Policy
Regular Investor Briefings
for individual shareholders
and private investors

Regular Investor Briefings
for Analysts andInstitutional Investors

The Company has established its IR Policy (disclosure policy)
and posted it to the corporate website.
https://www.kubota.com/ir/corporate/policy/index.html
The Company is making aggressive efforts to establish
communication and trust with individual shareholders andprivate investors. Such efforts include various events forindividual shareholders, corporate information sessions by
the President for private investors, and participating ininvestor forums using online tools.
Please follow the link below (“Information for Private
Investors”) for details.
https://www.kubota.co.jp/ir/sh_info/personal/index.html(in Japanese)[Fiscal year-end results briefings]
General Manager of Planning & Control Headquarters, who isRepresentative Director and Executive Vice President,
presents the results briefings for the first half and the yearend. In the year-end, the President also presents the businessconditions and business strategy, etc.

Explanation by
the President

With

With

Regular Investor Briefings
for Overseas Investors
Posting of IR Materials on
the Company Website

Establishment of
Department and/orManager in Charge of IR[Interactive dialogue with institutional investors and analysts]
The Company has approximately 360 individual and groupmeetings per year with institutional investors and analysts. In
addition, the Company holds a results briefing for the yearend in February and a results briefing for the first half inAugust.
Executives including General Manager of Planning & Control
Headquarters participate in conferences held for overseas
investors two or more times a year.
The Company posts earning releases, presentation materials,
Integrated Report/ ESG report, annual securities report,materials of the Ordinary General Meeting and otherinformation on its website.
English:https://www.kubota.com/ir/financial/integrated/index.html
Japanese:https://www.kubota.co.jp/ir/financial/integrated/index.html
IR Section, Corporate Planning & Control Dept.

- 28 -

Without

3. Measures to Ensure Due Respect for the Interests of Stakeholders
Supplementary Explanation
Stipulation of Internal Rules
for Respecting the Interests of
Stakeholders

Implementation ofEnvironmental Activities, CSR
Activities, etc.

All employees in the Group share the corporate philosophy “Kubota Global
Identity” which was established to manifest corporate attitudes, theCompany’s promises to society, and the missions of the Group. Furthermore,
the Group will contribute to its stakeholders and society by conducting
corporate activities in which each individual fulfills his or her role andresponsibilities.
By doing so, the Group is aiming for the ongoing synergistic development of
itself and society.
Kubota’s business areas associated with food, water, and the environment
were inspired by its founder, Gonshiro Kubota, and continue to support
people’s livelihoods. Our business activities are deeply involved in therealization of sustainability. As an “'Essentials Innovator for Supporting Life,'
Committed to a Prosperous Society and Cycle of Nature,”, we are promoting
our long-term vision GMB2030, working to solve food, water, andenvironmental issues and contribute to sustainability.
At the core of the realization of GMB2030 is K-ESG Management, which isrooted in the Kubota Group’s own ESG (Environmental, Social andGovernance) measures, K-ESG. K-ESG Management identifies four areas,
including resolution of environmental and social issues through our business,and 12 points of materiality that are relevant to these areas. By promoting
K-ESG Management and materiality, we will achieve GMB2030 goals,
thereby contributing to preservation of the beautiful global environment
and the development of sustainable communities.

Development of Policies on
Information Disclosure to
Stakeholders

Other Measures

Please see the link below for details.
https://www.kubota.com/sustainability/index.html
In the “Kubota Group Charter for Action” and “Kubota Group Code of
Conduct,” the Group states that it discloses the proper corporate information
about business management, business operations, and other matters in atimely and appropriate manner in accordance with related laws andregulations, and promotes proactive communication with its broad
stakeholder base, including shareholders and investors, consumers,
employees, and local communities. Through this disclosure, the Group fulfills
its responsibilities for transparency and accountability in corporate activities.
Diversity and creating a vibrant workplace- Promoting diversity as a priority commitment
As a business group operating on a global scale, the Group considers
recognizing diverse values and ways of thinking and having multiple
viewpoints as essential for its sustainable growth.
As the start for promoting diversity of personnel, the Company has thus far
worked on achieving the full potential of women in its organization, actively
making efforts to (1) increase the number of new women recruits, (2)improve the work environment so as to encourage women to continue
working, and (3) create more opportunities for women’s personal
development.
Based on the importance of the diversity of personnel (in terms of gender,
age, disabilities, nationality and more) of the Company, the Company willcontinue its aims to further improve the work environment so that each andevery employee can demonstrate his or her abilities to the fullest. In
addition, the Company aims to be a corporation where employees provide
even greater mutual support to one another with regard to childcare, nursing- 29 -

Supplementary Explanationof aged or ailing family members, and other situations that could hinder
employees from performing at their best in the workplace.
Please follow the link below (“Promoting Diversity Management among
Personnel”) for details.
https://www.kubota.com/sustainability/employee/diversity/index.html

IV. Matters Related to the Internal Control System
1. Basic Policy on Internal Control Systems and the Progress of System Development
The Company has set and is implementing the following 10 systems to ensure the appropriateness ofour business operations.
The Company partly revised these systems at the Meetings of the Board of Directors held on May 12,
2015.
1. System to ensure that Directors and employees perform their duties in compliance with laws andregulations, and the Articles of Incorporation
As the basis of this system to ensure that the Directors, the Executive Officers and employees performtheir duties in compliance with laws and regulations and the Articles of Incorporation, the Company has
established the “Kubota Group Charter for Action” and “Kubota Group Code of Conduct” to be observed by
all Directors, the Executive Officers and employees of the Company and its subsidiaries.
Under the Kubota Group Risk Management Committee, the department in charge designated for eachcategory of management risks (hereinafter referred to as the “department in charge”) undertakes suchactivities as education and training to promote compliance with laws and ethical norms, and performs
internal audits.
In addition, based on the operational regulations of “Operation of the Whistle Blowing System,” theCompany has set up the “Kubota Hotline,” a service function for in-house whistle blowing and consultationthat is based on rules to protect whistle blowers. The aim of this system is to discover at an early stage any
improper conduct that infringes on laws or other regulations and to prevent such infringements fromoccurring.
2. System related to the safekeeping and management of information regarding the Company Directors’
execution of duties
The Company properly holds in custody and controls information on the execution of duties by the
Directors and Executive Officers in accordance with its in-house rules and regulations, which include the“Regulations on Custody of Documents” and other items. The Company also maintains a system for making
such documents available for examination, as necessary.
3. Rules and regulations on the management of risks of losses and other systems
The Company manages risks of compliance, environment, health and safety, disasters, quality, and othermatters relating to the performance of business operations of the Group as a whole by having departmentsin charge or committees under the control of the Kubota Group Risk Management Committee provide
internal rules and regulations, manuals, and other guidelines to respond to the risks of the Group as a whole.
In order to respond to new risks arising in the Group, the Kubota Group Risk Management Committee
will determine the department in charge, and the new risks will be managed by the said department.
4. System to ensure the efficient execution of duties by Directors
The Board of Directors decides management execution policies, matters set forth in laws andregulations, and other important matters regarding management, while also overseeing the execution ofduties by the Directors and Executive Officers.
At the Executive Officers’ Meeting, the President and Representative Director gives directions andinformation to the Executive Officers about policies and resolutions decided by the Board of Directors. The
progress of execution of their duties is reported to the President and Representative Director by the
Executive Officers.
- 30 -

The Company enhances its decision-making process by having adequate discussions in the“Management Committee,” with the participation of the President and Representative Director and other
Executive Officers, to decide important management matters. The Company also implements multifaceted
deliberations in the “Investment Council,” mainly consisting of the Directors and Executive Officers in chargeof administrative departments, to discuss other important investment projects. The results of these
discussions are reported to the Board of Directors or the like to enhance the effectiveness of the system, in
accordance with the operational regulations of “Operation of the Management Committee and Investment
Council.”
5. System to ensure proper business operations within the Group, consisting of the Company and its
subsidiaries(a) To create a Group-Wide control environment, the Company has established the “Kubota Group Charter
for Action” and “Kubota Group Code of Conduct,” and the philosophies contained in this charter and codeof conduct are shared throughout the Group. To ensure proper business operations of the Group, theCompany sets its in-house rules and regulations and establishes proper internal control systems. The statusof the design and operation of internal control systems related to management risks, including the internal
control systems over financial reporting, is audited by the internal auditing department, and departments incharge, after self-audits performed by each department of the Company and its subsidiaries, and the resultsof such audits are reported to the Directors and Executive Officers in charge, the Kubota Group Risk
Management Committee, the President and Representative Director, the Board of Directors, and the Audit& Supervisory Board Members.
(b) The Company manages its subsidiaries in accordance with the subsidiary and affiliate management
regulations it has established in order to maintain the appropriateness of their operations. The subsidiaries
report the status of their business and the execution of the duties of their executives to the department incharge at the Company. The Company emphasizes the business connections between the subsidiaries andthe operating divisions of the Company and assigns the relevant departments to be departments primarily
in charge of managing those subsidiaries. The Company then receives reports on management planning andother matters from the subsidiaries and works to ensure the efficient execution of the duties of their
Directors through discussions at management review committees and other means.
6. System for Directors and employees to report to Audit & Supervisory Board Members and other systems
related to reports to Audit & Supervisory Board Members
The Company has established a system for the Directors, the Executive Officers and employees of theCompany, and the Directors, the Executive Officers, and employees of subsidiaries to report the following
matters to the Audit & Supervisory Board Members without delay. This is in addition to the matters thatneed to be reported in accordance with laws and regulations. Persons who have reported to the Audit &Supervisory Board Members will not be treated disadvantageously as a result of making their reports.
(a) Matters that could affect the Company’s management;(b) Contents of internal audits performed by the internal auditing department and departments in charge;(c) Contents of whistle blowing revealed through the “Kubota Hotline”; and(d) Other matters requested by the Audit & Supervisory Board or Audit & Supervisory Board Members
7. Matters related to employees who are requested to assist Audit & Supervisory Board Members in theirdutiesThe Company has established the Office of Audit & Supervisory Board Members and assigns employees
to exclusively support the Audit & Supervisory Board Members in performing their duties.
8. Matters related to the independence of the employees, as defined in Item 7. above from Directors andmatters related to ensuring the effectiveness of the instructions given by Audit & Supervisory Board
Members to those employees.
The employees defined in Item 7. above fully comply with the instructions given by the Audit &Supervisory Board Members and assist the Audit & Supervisory Board Members in their execution of theduties. Furthermore, the assignment and evaluation of the employees defined in Item 7. are made after
consultation and agreement between the Director in charge of the Human Resources Department and the
Audit & Supervisory Board Members.
- 31 -

9. Policy related to the processing of expenses incurred in the execution of the duties of Audit & Supervisory
Board Members
To pay the expenses incurred in the execution of the duties of the Audit & Supervisory Board Members,
the Company prepares a budget each year and also processes the payment smoothly based on the requests
from the Audit & Supervisory Board Members for the processing of any emergency or incidental expenses,
or repayments incurred in their execution of the duties.
10. Other systems to ensure effective audits by Audit & Supervisory Board Members(a) The President and Representative Director of the Company has meetings with the Audit & Supervisory
Board Members periodically, and, as needed, exchanges views on matters that the Company must deal with,
the improvement of audit environments, and other issues.
(b) The Audit & Supervisory Board Members explain their audit policies and audit plans to the Board of
Directors, and the Directors make efforts to improve communication with the Audit & Supervisory Board
Members to enhance the exchange of information and establish effective cooperation with the Audit &Supervisory Board Members.

2. Basic Policy on Eliminating Antisocial Forces
1. Basic policy on eliminating antisocial forces
The Company issued its code entitled “Elimination of Relationships with Antisocial Elements” as part of
the “Kubota Group Code of Conduct.” The Company also posts it on its website and makes it public both
inside and outside the Company.
“Elimination of Relationships with Antisocial Elements”“We take a strong stance against antisocial elements and groups that threaten the order and safety ofsociety and cooperate with the police and other organizations to ensure the thorough elimination of any
relationships of such elements and groups. We never respond to improper requests made by these antisocial
elements.”
2. Status of development of the system(a) The Company has established Compliance and Risk Management Headquarters and has created aframework for the promotion of compliance with laws and regulations through cooperation with Corporate
Compliance Dept., Legal Dept., and Corporate Auditing Dept. The Company also reviews the donations andmemberships in other organizations and monitors the advertising and promotional expenses.
(b) The Company participates in the regional activities and the meetings held by the Osaka Prefectural Centerfor the Elimination of Boryokudan (Criminal Elements), the Osaka Countermeasure Association, and othergroups, and strives to eliminate antisocial forces.
(c) The Company distributes the “Kubota Group Code of Conduct” portable card to all employees in theGroup, and encourages them to carry it with them at all times.

- 32 -

V. Other
1. Adoption of Anti-Takeover Measures
Adoption of Anti-Takeover Measures

Not Adopted

Supplementary Explanation-

2. Other Matters Concerning to Corporate Governance System-[Structure Charts (Reference)]<Corporate Governance Structure>- 33 -

<Company Structure for Timely Disclosure of Information>- 34 -

<Board Skills Matrix>
The Company configures its Board of Directors from the perspectives of maintaining the number of members
appropriate for ensuring effective discussions at the meetings of the Board of Directors, manifesting its function asa board of directors and ensuring its diversity and maintaining soundness and transparency in management.
It is important for members of the Board of Directors to complement each other by using their knowledge,
experience, and skills, based on diverse values. Shown below is the relationship between the skills required topromote the Company’s medium- to long-term business strategy and the expertise and experience of each member.

(Notes) 1. Senior Executive Officers and Executive Officers in charge of the relevant fields attend the meetings of the Board of Directors,
depending on the agenda, to provide explanations on those agenda in order to improve the effectiveness of the Board.
2. In the list above, up to three of the major skills expected of each member of the Board of Directors based on their experience aremarked ●. These skills do not represent the entirety of the knowledge possessed by each member.

- 35 -

<Implementation Status of Corporate Governance Code>This is presented based on the Code as it stands after its revision in June 2021. (The principles for the Prime Market to be applied effective from April 4,2022 are also included.)
Corporate Governance Code
General Principle

Principle

1.1

1.2

Section 1:
Securing the Rights andEqual Treatment of
1.3
Shareholders

1.4

Implementation status
Supplementary
Principle

Explain

Location of disclosure of implementation status in this report, the Company’s website, etc.

–●

Corporate Governance Report: III. 1. Measures to Encourage Active Participation and Discussion at theGeneral Meeting of Shareholders and Smooth Exercise of Voting Rights

1.1.1

●

Corporate Governance Report: Others in III. 1.

1.1.2

●

Corporate Governance Report: Others in III. 1.

1.1.3

●

Carried out with respect to the intention of the Code.

–●Corporate Governance Report: III. 1. Measures to Encourage Active Participation and Discussion at theGeneral Meeting of Shareholders and Smooth Exercise of Voting Rights

1.2.1

●

Corporate Governance Report: III. 1. Measures to Encourage Active Participation and Discussion at theGeneral Meeting of Shareholders and Smooth Exercise of Voting Rights

1.2.2

●

Corporate Governance Report: Early Notification of General Meeting of Shareholders in III. 1.

1.2.3

●

Corporate Governance Report: Scheduling General Meeting of Shareholders Avoiding the Peak Day inIII. 1.

1.2.4●

・Corporate Governance Report: Allowing Electronic Exercise of Voting Rights in III. 1.
・Corporate Governance Report: Participation in Electronic Voting Platform for Institutional Investors
in III. 1.
・Corporate Governance Report: Providing (Summary) Convocation Notice in English in III. 1.

1.2.5

●

Carried out with respect to the intention of the Code.

Basic Strategy for Capital–
Policy●Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 7. Basic Strategy for Capital Policy, Policy for Cross-Shareholdings, and Standards for Exercise of
Voting Rights–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 7. Basic Strategy for Capital Policy, Policy for Cross-Shareholdings, and Standards for Exercise of
Voting Rights

1.4.1

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 7. Basic Strategy for Capital Policy, Policy for Cross-Shareholdings, and Standards for Exercise of
Voting Rights

1.4.2

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 7. Basic Strategy for Capital Policy, Policy for Cross-Shareholdings, and Standards for Exercise of
Voting Rights–●

Corporate Governance Report: V. 1. Adoption of Anti-Takeover Measures

1.5.1

●

Corporate Governance Report: V. 1. Adoption of Anti-Takeover Measures

Securing the Rights ofShareholders

Exercise of Shareholder
Rights at General
Shareholder Meetings

Shares Held as CrossShareholdings

1.5

Anti-Takeover Measures

1.6

Capital Policy That May
Harm Shareholder
Interests–●

Carried out with respect to the intention of the Code.

1.7

Related Party
Transactions–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 9. Procedures for Approval for Transactions Among Related Parties

2.1

Management Philosophy
Formulated as Basis for
Increasing Corporate–
Value Over the Medium
to Long Term●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. Corporate Philosophy
・The Company’s website: Kubota Global Identity
https://www.kubota.com/corporate/identity/index.html

Drafting and
Implementation of
Corporate Code of
Conduct–●

2.2

The Company’s website: Kubota Group Charter for Action & Code of Conduct
https://www.kubota.com/sustainability/employee/conduct/index.html

2.2.1

●

The Company’s website: Kubota Group Charter for Action & Code of Conduct
https://www.kubota.com/sustainability/employee/conduct/index.html●

・The Company’s website: Sustainability
https://www.kubota.com/sustainability/index.html
・Integrated Report / ESG Report:
https://www.kubota.com/ir/financial/integrated/index.html
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. (3) Sustainability initiatives–

Section 2:
Appropriate
Cooperation With
Stakeholders Other
Than Shareholders

Comply2.3

Sustainability Issues,
Including Social andEnvironmental Matters
2.3.1

●

・The Company’s website: Sustainability
https://www.kubota.com/sustainability/index.html
・Integrated Report / ESG Report:
https://www.kubota.com/ir/financial/integrated/index.html
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. (3) Sustainability initiatives

2.4

2.5

Ensuring Diversity in
Companies, Including
Active Participation of
Women

Whistleblowing–●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (2) Views on balance of knowledge, experience and capabilities, diversity, and size of theBoard of Directors
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. (3) Sustainability initiatives
・Corporate Governance Report: Other Measures in III. 3.

2.4.1

●

・The Company’s website: Sustainability
https://www.kubota.com/sustainability/index.html
・Integrated Report / ESG Report:
https://www.kubota.com/ir/financial/integrated/index.html–●

・Corporate Governance Report: IV. 1. Matters Related to the Internal Control System
・The Company’s website: Internal Control System
https://www.kubota.com/sustainability/governance/system/index.html- 36 -

Corporate Governance Code
General Principle

Principle

Implementation status
Supplementary

ComplyExplain

Location of disclosure of implementation status in this report, the Company’s website, etc.

Principle

2.6

3.1

Functioning as Asset
Owner of Corporate
Pension Funds

Enhancement of●・Corporate Governance Report: IV. 1. Matters Related to the Internal Control System
・The Company’s website: Internal Control System
https://www.kubota.com/sustainability/governance/system/index.html–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 8. Responsibilities of Corporate Pension Funds as Asset Owners–●

The Company’s website: IR Policy
https://www.kubota.com/ir/corporate/policy/index.html(i)●・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 2. (1) Long-term business strategies, (2) Mid-term business plan
・The Company’s website: Our Long-Term Vision GMB2030
https://www.kubota.com/corporate/vision/index.html
・The Company’s website: Mid-Term Business Plan 2025
https://www.kubota.com/ir/corporate/plan/index.html

(ii)

●

Corporate Governance Report: I. 1. Basic Policy

(iii)

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (8) Policies and procedures in determining the remuneration of Directors and management

(iv)

●

Information Disclosure

Section 3:
Ensuring Appropriate
Information Disclosure
and Transparency

3.2

2.5.1

External Financial
Auditors

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (1) Policies for appointing candidates for Directors and Audit & Supervisory Board Members
and management, (2) Procedures for nomination and dismissal of candidates for Directors and Audit &Supervisory Board Members, and appointment and dismissal of management(v)●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (3) Explanation about individual nomination and election of Directors, Audit & Supervisory
Board Members and management

3.1.1

●

Carried out with respect to the intention of the Code.

3.1.2

●

The Company’s global website: For Investors
https://www.kubota.com/ir/index.html

3.1.3

●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. (3) Sustainability initiatives
・The Company’s website: Sustainability
https://www.kubota.com/sustainability/index.html
・Integrated Report / ESG Report:
https://www.kubota.com/ir/financial/integrated/index.html–●

Corporate Governance Report: II. 2. Matters Related to the Functions of Business Execution, Auditing,Oversight, Nomination, and Remuneration Decisions

3.2.1

●

Corporate Governance Report: II. 2. Matters Related to the Functions of Business Execution, Auditing,Oversight, Nomination, and Remuneration Decisions

3.2.2

●

Corporate Governance Report: II. 2. Matters Related to the Functions of Business Execution, Auditing,Oversight, Nomination, and Remuneration Decisions–●

Code], 4. (1) Scope of delegation to management
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 2. (2) Mid-term business plan

4.1.1

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (1) Scope of delegation to management

4.1.2

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 2. (2) Mid-term business plan

4.1.3

●

Corporate Governance Report: Committee’s Name, Composition, and Attributes of Chairperson;
Supplementary Explanation in II. 1.

–●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (1) Scope of delegation to management
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (8) Policies and procedures in determining the remuneration of Directors and management

4.2.1

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (8) Policies and procedures in determining the remuneration of Directors and management

4.2.2

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 1. (3) Sustainability initiatives

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate Governance

4.1

4.2
Section 4:
Responsibilities of theBoard of Directors

4.3

Roles andResponsibilities of theBoard of Directors(Part 1)

Roles andResponsibilities of theBoard of Directors(Part 2)

Roles andResponsibilities of theBoard of Directors(Part 3)・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (2) Procedures for nomination and dismissal of candidates for Directors and Audit &Supervisory Board Members, and appointment and dismissal of management

–

●

4.3.1

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (2) Procedures for nomination and dismissal of candidates for Directors and Audit &Supervisory Board Members, and appointment and dismissal of management

4.3.2

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (2) Procedures for nomination and dismissal of candidates for Directors and Audit &Supervisory Board Members, and appointment and dismissal of management

4.3.3

●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (2) Procedures for nomination and dismissal of candidates for Directors and Audit &Supervisory Board Members, and appointment and dismissal of management

4.3.4

●

Corporate Governance Report: IV. 1. Matters Related to the Internal Control System

・Corporate Governance Report: IV. 1. Matters Related to the Internal Control System
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 9. Procedures for Approval for Transactions Among Related Parties- 37 -

Corporate Governance Code
General Principle

Principle

Implementation status
Supplementary

ComplyExplain

Location of disclosure of implementation status in this report, the Company’s website, etc.

Principle

4.4Roles andResponsibilities ofKansayaku and theKansayaku Board–●

Corporate Governance Report: II. 2. Matters Related to the Functions of Business Execution, Auditing,Oversight, Nomination, and Remuneration Decisions

4.4.1

●

・Corporate Governance Report: II. 2. Matters Related to the Functions of Business Execution,
Auditing, Oversight, Nomination, and Remuneration Decisions
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.

4.5

Fiduciary
Responsibilities of–
Directors and Kansayaku●

Carried out with respect to the intention of the Code.

4.6

Supervision ofManagement andBusiness Execution–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (1) Scope of delegation to management

4.7

Roles andResponsibilities ofIndependent Outside
Directors–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.

–●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.
・Convocation Notice for the Ordinary General Meeting of Shareholders: Activity Report for Outside
Directors and Outside Audit & Supervisory Board Members
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html

4.8

4.9

4.10

4.11

Effective Use of
Independent Outside
Directors●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.
・Convocation Notice for the Ordinary General Meeting of Shareholders: Activity Report for Outside
Directors and Outside Audit & Supervisory Board Members
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html

4.8.2

●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.
・Convocation Notice for the Ordinary General Meeting of Shareholders: Activity Report for Outside
Directors and Outside Audit & Supervisory Board Members
https://www.kubota.com/ir/sh-info/meeting/convocation/index.html

4.8.3

4.8.1

●

Not applicable to the Company.

Independence Standards
and Qualification for–
Independent Outside
Directors●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (1) Policies for appointing candidates for Directors and Audit & Supervisory Board Members
and management–●

Corporate Governance Report: Committee’s Name, Composition, and Attributes of Chairperson;
Supplementary Explanation in II. 1.

4.10.1●

Use of Optional
ApproachPreconditions for Boardof Directors andKansayaku Board
Effectiveness

4.13

–

●

4.11.1●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (2) Views on balance of knowledge, experience and capabilities, diversity, and size of theBoard of Directors
・Skills matrix at the end of this report.

4.11.2●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (4) Concurrent positions of officers

4.11.3●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (6) Analysis and evaluation of the effectiveness of the Board of Directors, and overview ofresults thereof●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (1) Scope of delegation to management
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (6) Analysis and evaluation of the effectiveness of the Board of Directors, and overview ofresults thereof

Active Deliberations at
Meetings of the Board of
Directors

Information Gatheringand Support Structure

・Corporate Governance Report: Committee’s Name, Composition, and Attributes of Chairperson;
Supplementary Explanation in II. 1.
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (2) Views on balance of knowledge, experience and capabilities, diversity, and size of theBoard of Directors, (6) Analysis and evaluation of the effectiveness of the Board of Directors, andoverview of results thereof
・Skills matrix at the end of this report.

–

4.12

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.

4.12.1●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 4. (1) Scope of delegation to management
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (5) Current efforts for making effective use of independent officers, etc.
・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (6) Analysis and evaluation of the effectiveness of the Board of Directors, and overview ofresults thereof–●

Corporate Governance Report: IV. 1. Matters Related to the Internal Control System

4.13.1●

Corporate Governance Report: IV. 1. Matters Related to the Internal Control System

4.13.2●

Corporate Governance Report: IV. 1. Matters Related to the Internal Control System

4.13.3●

Corporate Governance Report: IV. 1. Matters Related to the Internal Control System- 38 -

Corporate Governance Code
General Principle

Principle

Implementation status
Supplementary

ComplyExplain

Location of disclosure of implementation status in this report, the Company’s website, etc.

Principle

4.14

5.1

Director and Kansayaku
Training

Policy for Constructive
Dialogue With
Shareholders

Section 5:–●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (7) Measures to improve understanding and knowledge necessary for Directors and Audit &Supervisory Board Members to fulfill their role and responsibilities

4.14.1●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (7) Measures to improve understanding and knowledge necessary for Directors and Audit &Supervisory Board Members to fulfill their role and responsibilities

4.14.2●

Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 5. (7) Measures to improve understanding and knowledge necessary for Directors and Audit &Supervisory Board Members to fulfill their role and responsibilities–●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 6. Constructive Dialogue with Shareholders
・Corporate Governance Report: III. 2. IR Activities

5.1.1

●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 6. Constructive Dialogue with Shareholders
・Corporate Governance Report: III. 2. IR Activities

5.1.2

●

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 6. Constructive Dialogue with Shareholders
・Corporate Governance Report: III. 2. IR Activities

5.1.3

●

Carried out with respect to the intention of the Code.

●・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate GovernanceCode], 2. (1) Long-term business strategies, (2) Mid-term business plan
・The Company’s website: Our Long-Term Vision GMB2030
https://www.kubota.com/corporate/vision/index.html
・The Company’s website: Mid-Term Business Plan 2025
https://www.kubota.com/ir/corporate/plan/index.html

Dialogue with
Shareholders–

5.2

Establishing andAnnouncing
Management Strategy
and Business Plan

・Corporate Governance Report: I. 1. [Disclosure Based on the Principles of the Corporate Governance

5.2.1

●

Code], 2. (1) Long-term business strategies, (2) Mid-term business plan
・The Company’s website: Our Long-Term Vision GMB2030
https://www.kubota.com/corporate/vision/index.html
・The Company’s website: Mid-Term Business Plan 2025
https://www.kubota.com/ir/corporate/plan/index.html- 39 -