Edgar Filing: KUBOTA CORP

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6 - K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of November 2011

Commission File Number: 1-07294

KUBOTA CORPORATION

(Translation of registrant’s name into English)

2-47, Shikitsuhigashi 1-chome, Naniwa-ku, Osaka, Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F :

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) :

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) :

Information furnished on this form:

EXHIBITS

Exhibit Number

1.	Results of operations for the six months ended September 30, 2011 (Wednesday, November 2, 2011)

2.	Notice on interim dividend (Wednesday, November 2, 2011)


		Contact:
		IR Group
		Kubota Corporation
		2-47, Shikitsuhigashi 1-chome,
		Naniwa-ku, Osaka 556-8601, Japan
		Phone		: +81-6-6648-2645
		Facsimile		: +81-6-6648-2632

FOR IMMEDIATE RELEASE (WEDNESDAY, NOVEMBER 2, 2011)

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED

SEPTEMBER 30, 2011 REPORTED BY KUBOTA CORPORATION

OSAKA, JAPAN, November 2, 2011 — Kubota Corporation reported its consolidated results for the six months ended September 30, 2011 today.

Consolidated Financial Highlights

1. Consolidated results of operations for the six months ended September 30, 2011


(1) Results of operations	(In millions of yen except per common share amounts)
	Six months ended Sep. 30, 2011		Change [%]		Six months ended Sep. 30, 2010		Change [%]
Revenues	¥	481,713		7.3	¥	449,046		1.0
Operating income	¥	49,249		14.1	¥	43,169		30.3
Income before income taxes and equity in net income of affiliated companies	¥	44,367		3.1	¥	43,041		29.3
Net income attributable to Kubota Corporation	¥	26,338		2.4	¥	25,710		33.1
Net income attributable to Kubota Corporation per common share
Basic	¥	20.75			¥	20.22
Diluted		—				—

Notes :

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

Comprehensive income for the six months ended September 30, 2011 and 2010 were ¥24,745 million [211.3%] and ¥7,949 million [(83.2%)], respectively.


(2) Financial position	(In millions of yen except per common share amounts)
	Sep. 30, 2011			Mar. 31, 2011
Total assets	¥	1,371,064		¥	1,356,852
Equity	¥	686,980		¥	681,361
Kubota Corporation shareholders’ equity	¥	638,137		¥	634,885
Ratio of Kubota Corporation shareholders’ equity to total assets		46.5	%		46.8	%

2. Cash dividends


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

Note :

Although the Company’s basic policy for the return of profit to shareholders is to maintain stable dividends or raise dividends, specific amount of cash dividends for each fiscal year is decided in consideration of the development of business performance, financial conditions and payout ratio including share buybacks. Specific amount of year-end cash dividends for the year ending March 31, 2012 is not decided at this time and the Company will inform the amount as soon as a decision is made.

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Kubota Corporation

and Subsidiaries

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


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

Note :

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

4. Other information

(1)	Changes in material subsidiaries: No

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

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

(3)	Accounting changes for consolidated financial statements

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

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

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


(4)	Number of shares outstanding including treasury stock as of September 30, 2011	:	1,285,919,180
	Number of shares outstanding including treasury stock as of March 31, 2011	:	1,285,919,180
	Number of treasury stock as of September 30, 2011	:	29,985,574
	Number of treasury stock as of March 31, 2011	:	14,206,633
	Weighted average number of shares outstanding during the six months ended September 30, 2011	:	1,269,078,444
	Weighted average number of shares outstanding during the six months ended September 30, 2010	:	1,271,815,745

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

This release is not reviewed or audited in accordance with Financial Instruments and Exchange Law of Japan by the independent auditor because this release is not subject to the quarterly review. As of the date of this release, the Company’s consolidated financial statements for the six months ended September 30, 2011 are under procedure of the quarterly review.

< Cautionary Statements with Respect to Forward-Looking Statements >

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

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Kubota Corporation

and Subsidiaries

Index to Accompanying Materials


1.	Review of operations and financial condition			4

	(1	)	Summary of the results of operations for the six months under review	4

	(2	)	Financial condition	5

	(3	)	Prospect for the year ending March 31, 2012	5

2.	Other information			6

	(1	)	Changes in material subsidiaries	6

	(2	)	Adoption of simplified accounting procedures or specific accounting procedures for consolidated quarterly financial statements	6

	(3	)	Accounting changes for consolidated financial statements	6

3.	Consolidated financial statements			7

	(1	)	Consolidated balance sheets	7

	(2	)	Consolidated statements of income	8

	(3	)	Consolidated statements of comprehensive income	9

	(4	)	Consolidated statements of cash flows	10

	(5	)	Notes to assumption for going concern	10

	(6	)	Consolidated segment information	11

	(7	)	Consolidated statements of changes in equity	12

	(8	)	Consolidated revenues by reporting segment	13

	(9	)	Anticipated consolidated revenues by reporting segment	14

4.	The results of operations for the three months ended September 30, 2011			15

	(1	)	Consolidated statements of income	15

	(2	)	Consolidated segment information	16

	(3	)	Consolidated revenues by reporting segment	17

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Kubota Corporation

and Subsidiaries

1. Review of operations and financial condition

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

For the six months ended September 30, 2011, revenues of Kubota Corporation and subsidiaries (hereinafter, the “Company”) increased ¥32.7 billion [7.3 %], to ¥481.7 billion from the corresponding period in the prior year.

Domestic revenues increased ¥4.5 billion [2.0 %], to ¥229.3 billion. Although revenues in Social Infrastructure decreased slightly, revenues in Farm & Industrial Machinery increased marginally and revenues in Water & Environment Systems and Other increased. Overseas revenues increased ¥28.2 billion [12.6 %], to ¥252.4 billion due to a significant increase in revenues in Farm & Industrial Machinery, while revenues in Water & Environment Systems, Social Infrastructure and Other decreased.

Operating income increased ¥6.1 billion [14.1 %], to ¥49.2 billion from the corresponding period in the prior year. Despite the negative impact of yen appreciation, increased revenues in Farm & Industrial Machinery, notably in overseas markets and company-wide cost reduction contributed to the increase in operating income. Income before income taxes and equity in net income of affiliated companies increased ¥1.3 billion [3.1 %], to ¥44.4 billion. Income taxes were ¥16.6 billion [representing an effective tax rate of 37.5 %], and net income were ¥28.9 billion, the same amount as the corresponding period in the prior year. Net income attributable to Kubota Corporation increased ¥0.6 billion [2.4 %], to ¥26.3 billion from the corresponding period in the prior year.

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

1) Farm & Industrial Machinery

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

Revenues in this segment increased 9.4 %, to ¥361.7 billion from the corresponding period in the prior year, comprising 75.1 % of consolidated revenues.

Domestic revenues increased 0.6 %, to ¥121.7 billion. In the farm equipment market, slumping sales in the suffered area of the Great East Japan Earthquake and weak investment motivation of part-time farmer continued. However implementation of detailed demand stimulating activities alleviated a decrease in sales of farm equipment. On the contrary, sales of construction machinery substantially increased due to the recovery of the market.

Overseas revenues increased 14.4 %, to ¥240.0 billion. In North America, sales of tractors increased as a result of aggressive sales promotion activities and sales of engines increased owing to ongoing market recovery. In addition, sales of construction machinery largely increased due to expansion of demand and the effect of a newly-introduced product. In Europe, sales of construction machinery and engines substantially increased supported by favorable market environment. In Asia outside Japan, sales of tractors steadily increased and sales of construction machinery increased substantially, while sales of combine harvesters decreased.

Operating income in Farm & Industrial Machinery increased 12.5 %, to ¥52.5 billion due to an increase in revenues and cost reduction.

2) Water & Environment Systems

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

Revenues in this segment increased 2.1 %, to ¥76.3 billion from the corresponding period in the prior year, comprising 15.8 % of consolidated revenues.

Domestic revenues increased 4.6 %, to ¥71.5 billion. Although sales of plastic pipes decreased, sales of ductile iron pipes and valves increased in pipe-related products. In environment-related products, sales of pumps and products related to water and sewage treatment increased. Overseas revenues decreased 24.5%, to ¥4.8 billion. In environment-related products, sales of pumps and submerged membrane systems increased. On the other hand, sales of ductile iron pipes decreased in pipe-related products.

Operating income in Water & Environment Systems increased 66.2 %, to ¥3.5 billion mainly due to an increase in domestic revenues and cost reduction.

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Kubota Corporation

and Subsidiaries

3) Social Infrastructure

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

Revenues in this segment decreased 2.0 %, to ¥30.6 billion from the corresponding period in the prior year, comprising 6.4 % of consolidated revenues.

Domestic revenues decreased 0.7 %, to ¥23.1 billion. Although sales of spiral welded steel pipes and air-conditioning equipment increased, sales of industrial castings and vending machines decreased. Overseas revenues decreased 5.7 %, to ¥7.5 billion due to drop in sales of spiral welded steel pipes and air-conditioning equipment.

Operating income in Social Infrastructure decreased 41.4%, to ¥1.1 billion due to decreased revenues and fiercer competition.

4) Other

Other comprises construction, services and other businesses.

Revenues in this segment increased 5.9 %, to ¥13.2 billion from the corresponding period in the prior year, comprising 2.7 % of consolidated revenues.

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

Operating income in Other increased 8.9%, to ¥0.8 billion.

(2) Financial condition

1) Assets, liabilities and equity

Total assets at the end of September 2011 amounted to ¥1,371.1 billion, an increase of ¥14.2 billion from the end of March 2011. As for assets, inventories and short- and long-term finance receivables increased.

As for liabilities, accounts payable increased. As for equity, treasury stock increased and accumulated comprehensive loss deteriorated. On the other hand, retained earnings increased owing to recorded net income. Shareholders’ equity ratio was 46.5 %, 0.3 percentage points lower than the prior fiscal year end.

2) Cash flows

Net cash provided by operating activities during the six months under review was ¥35.3 billion, a decrease of ¥18.0 billion of cash inflow from the corresponding period in the prior year. This decrease was mainly due to changes in working capital such as notes and accounts receivable and inventories.

Net cash used in investing activities was ¥37.3 billion, an increase of ¥8.5 billion of cash outflow from the corresponding period in the prior year. This increase was mainly due to an increase in finance receivables.

Net cash used in financing activities was ¥17.2 billion, a decrease of ¥13.3 billion of cash outflow from the corresponding period in the prior year. Although purchases of treasury stock and cash dividend increased, an increase in proceeds from issuance of long-term debt resulted in a decrease of cash outflow.

As a result, including the effect of exchange rate changes, cash and cash equivalents at the end of September 2011 was ¥86.7 billion, a decrease of ¥18.6 billion from the beginning of the period.

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

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

The forecasts are based on the assumption of exchange rates of ¥79=US$1 and ¥111=1Euro, respectively.

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Kubota Corporation

and Subsidiaries

2. Other information

(1) Changes in material subsidiaries

None

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

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

(3) Accounting changes for consolidated financial statements

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

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Kubota Corporation

and Subsidiaries

3. Consolidated financial statements

(1) Consolidated balance sheets


Assets	(In millions of yen)
	Sep. 30, 2011					Mar. 31, 2011					Change			Sep. 30, 2010
	Amount			%		Amount			%		Amount			Amount			%
Current assets:
Cash and cash equivalents		86,689					105,293					(18,604	)		103,677
Notes and accounts receivable		345,788					353,608					(7,820	)		335,496
Short-term finance receivables-net		106,565					100,437					6,128			104,538
Inventories		193,303					174,217					19,086			174,694
Other current assets		57,535					43,649					13,886			51,353

Total current assets		789,880			57.6		777,204			57.3		12,676			769,758			56.7

Investments and long-term finance receivables		318,984			23.3		316,896			23.4		2,088			319,106			23.5

Property, plant, and equipment		210,701			15.4		217,358			16.0		(6,657	)		216,066			15.9

Other assets		51,499			3.7		45,394			3.3		6,105			52,445			3.9


Total		1,371,064			100.0		1,356,852			100.0		14,212			1,357,375			100.0


Liabilities and Equity	(In millions of yen)
	Sep. 30, 2011					Mar. 31, 2011					Change			Sep. 30, 2010
	Amount			%		Amount			%		Amount			Amount			%
Current liabilities:
Short-term borrowings		55,184					76,642					(21,458	)		57,306
Notes and accounts payable		176,706					164,803					11,903			157,032
Other current liabilities		112,128					108,127					4,001			112,856
Current portion of long-term debt		80,607					85,556					(4,949	)		85,401

Total current liabilities		424,625			31.0		435,128			32.1		(10,503	)		412,595			30.4

Long-term liabilities:
Long-term debt		216,976					191,760					25,216			225,479
Accrued retirement and pension costs		31,036					35,285					(4,249	)		35,948
Other long-term liabilities		11,447					13,318					(1,871	)		10,381

Total long-term liabilities		259,459			18.9		240,363			17.7		19,096			271,808			20.0

Equity:
Kubota Corporation shareholders’ equity:
Common stock		84,070					84,070					—			84,070
Capital surplus		89,284					89,140					144			89,236
Legal reserve		19,539					19,539					—			19,539
Retained earnings		534,291					516,858					17,433			496,652
Accumulated other comprehensive loss		(69,699	)				(65,381	)				(4,318	)		(53,421	)
Treasury stock		(19,348	)				(9,341	)				(10,007	)		(9,296	)

Total Kubota Corporation shareholders’ equity		638,137			46.5		634,885			46.8		3,252			626,780			46.2
Noncontrolling interests		48,843			3.6		46,476			3.4		2,367			46,192			3.4

Total equity		686,980			50.1		681,361			50.2		5,619			672,972			49.6


Total		1,371,064			100.0		1,356,852			100.0		14,212			1,357,375			100.0

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Kubota Corporation

and Subsidiaries

(2) Consolidated statements of income


	(In millions of yen)
	Six months ended Sep. 30, 2011					Six months ended Sep. 30, 2010					Change					Year ended Mar. 31, 2011
	Amount			%		Amount			%		Amount			%		Amount			%

Revenues		481,713			100.0		449,046			100.0		32,667			7.3		933,685			100.0
Cost of revenues		351,108			72.9		325,395			72.5		25,713			7.9		678,653			72.7
Selling, general, and administrative expenses		80,227			16.7		80,059			17.8		168			0.2		165,407			17.7
Other operating expenses		1,129			0.2		423			0.1		706			166.9		3,514			0.4

Operating income		49,249			10.2		43,169			9.6		6,080			14.1		86,111			9.2
Other income (expenses):
Interest and dividend income		1,972					2,122					(150	)				3,429
Interest expense		(771	)				(927	)				156					(1,632	)
Gain on sales of securities-net		—					145					(145	)				4,845
Valuation loss on other investments		(1,404	)				(8	)				(1,396	)				(1,758	)
Gain on nonmonetary exchange of securities		—					2,774					(2,774	)				2,774
Foreign exchange loss -net		(6,535	)				(3,780	)				(2,755	)				(1,640	)
Other-net		1,856					(454	)				2,310					(829	)

Other income (expenses), net		(4,882	)				(128	)				(4,754	)				5,189


Income before income taxes and equity in net income of affiliated companies		44,367			9.2		43,041			9.6		1,326			3.1		91,300			9.8

Income taxes		16,649					14,703					1,946					30,684

Equity in net income of affiliated companies		1,180					530					650					492


Net income		28,898			6.0		28,868			6.4		30			0.1		61,108			6.5

Less: Net income attributable to noncontrolling interests		2,560					3,158					(598	)				6,286


Net income attributable to Kubota Corporation		26,338			5.5		25,710			5.7		628			2.4		54,822			5.9


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

Basic		20.75					20.22										43.11

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Kubota Corporation

and Subsidiaries

(3) Consolidated statements of comprehensive income


	(In millions of yen)
	Six months ended Sep. 30, 2011			Six months ended Sep. 30, 2010			Change
Net income		28,898			28,868			30

Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		2,604			(13,579	)		16,183
Unrealized losses on securities		(7,034	)		(8,048	)		1,014
Unrealized gains on derivatives		336			782			(446	)
Pension liability adjustments		(59	)		(74	)		15

Other comprehensive loss		(4,153	)		(20,919	)		16,766

Comprehensive income		24,745			7,949			16,796
Less: Comprehensive income attributable to noncontrolling interests		2,725			1,169			1,556

Comprehensive income attributable to Kubota Corporation		22,020			6,780			15,240

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Kubota Corporation

and Subsidiaries

(4) Consolidated statements of cash flows


	(In millions of yen)
	Six months ended Sep. 30, 2011			Six months ended Sep. 30, 2010			Change
Operating activities:
Net income		28,898			28,868
Depreciation and amortization		11,424			13,275
Valuation loss on other investments		1,404			8
Gain on nonmonetary exchange of securities		—			(2,774	)
Deferred income taxes		937			3,710
Decrease in notes and accounts receivable		3,107			23,573
Increase in inventories		(17,063	)		(10,416	)
(Increase) decrease in other current assets		(7,316	)		4,632
Increase in trade notes and accounts payable		11,253			1,223
Increase (decrease) in income taxes payable		5,493			(13,609	)
Increase in other current liabilities		579			8,096
Decrease in accrued retirement and pension costs		(4,363	)		(4,372	)
Other		915			1,005

Net cash provided by operating activities		35,268			53,219			(17,951	)

Investing activities:
Purchases of fixed assets		(9,702	)		(12,208	)
Proceeds from sales of property, plant, and equipment		109			479
Increase in finance receivables		(94,602	)		(86,060	)
Collection of finance receivables		70,965			66,807
Net increase in short-term loan receivables from affiliated companies		(3,600	)		—
Net (increase) decrease in time deposits		(3	)		1,854
Other		(428	)		415

Net cash used in investing activities		(37,261	)		(28,713	)		(8,548	)

Financing activities:
Proceeds from issuance of long-term debt		65,195			43,905
Repayments of long-term debt		(42,492	)		(52,172	)
Net decrease in short-term borrowings		(20,790	)		(15,602	)
Cash dividends		(8,905	)		(6,361	)
Purchases of treasury stock		(10,008	)		(21	)
Other		(153	)		(202	)

Net cash used in financing activities		(17,153	)		(30,453	)		13,300

Effect of exchange rate changes on cash and cash equivalents		542			(1,804	)		2,346

Net decrease in cash and cash equivalents		(18,604	)		(7,751	)
Cash and cash equivalents at beginning of period		105,293			111,428

Cash and cash equivalents at end of period		86,689			103,677			(16,988	)

(5) Notes to assumption for going concern

None

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Kubota Corporation

and Subsidiaries

(6) Consolidated segment information

1) Reporting segments


Six months ended September 30, 2011	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		361,660		76,258		30,603		13,192		—			481,713
Intersegment		26		325		1,466		8,985		(10,802	)		—

Total		361,686		76,583		32,069		22,177		(10,802	)		481,713

Operating income		52,458		3,469		1,108		834		(8,620	)		49,249


Six months ended September 30, 2010	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		330,682		74,672		31,231		12,461		—			449,046
Intersegment		31		472		1,308		6,097		(7,908	)		—

Total		330,713		75,144		32,539		18,558		(7,908	)		449,046

Operating income		46,646		2,087		1,892		766		(8,222	)		43,169

Notes:

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

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

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

2) Geographic segments


Information for revenues from external customers by destination	(In millions of yen)
	Six months ended Sep. 30, 2011		Six months ended Sep. 30, 2010
Japan		229,284		224,789
North America		102,058		82,217
Europe		48,159		42,089
Asia Outside Japan		86,702		85,008
Other Areas		15,510		14,943

Total		481,713		449,046

Notes:

1. Revenues from North America include those from the United States of ¥87,507 million and ¥67,947 million for the six months ended September 30, 2011 and 2010, respectively.

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

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Kubota Corporation

and Subsidiaries

(7) Consolidated statements of changes in equity


	(In millions of yen)
	Shares of common stock outstanding (thousands)			Kubota Corporation shareholders’ equity															Non- controlling interests			Total equity
	Shares of common stock outstanding (thousands)			Common stock		Capital surplus		Legal reserve		Retained earnings			Accumulated other comprehensive loss			Treasury stock			Non- controlling interests			Total equity
Balance at March 31, 2011		1,271,713			84,070		89,140		19,539		516,858			(65,381	)		(9,341	)		46,476			681,361

Net income											26,338									2,560			28,898
Other comprehensive income (loss)														(4,318	)					165			(4,153	)
Cash dividends paid to Kubota Corporation shareholders, ¥7 per common share											(8,905	)											(8,905	)
Cash dividends paid to noncontrolling interests																				(250	)		(250	)
Purchases and sales of treasury stock		(15,779	)														(10,007	)					(10,007	)
Increase in noncontrolling interests related to contribution																				73			73
Changes in ownership interests in subsidiaries							144													(181	)		(37	)

Balance at September 30, 2011		1,255,934			84,070		89,284		19,539		534,291			(69,699	)		(19,348	)		48,843			686,980

-12-

Kubota Corporation

and Subsidiaries

(8) Consolidated revenues by reporting segment


	(In millions of yen)
	Six months ended Sep. 30, 2011				Six months ended Sep. 30, 2010				Change						Year ended Mar. 31, 2011
	Amount		%		Amount		%		Amount			%			Amount		%
Farm Equipment and Engines		311,909		64.8		295,156		65.7		16,753			5.7			580,671		62.2
Domestic		110,307				112,399				(2,092	)		(1.9	)		205,676
Overseas		201,602				182,757				18,845			10.3			374,995
Construction Machinery		49,751		10.3		35,526		7.9		14,225			40.0			70,847		7.6
Domestic		11,377				8,597				2,780			32.3			20,710
Overseas		38,374				26,929				11,445			42.5			50,137
Farm & Industrial Machinery		361,660		75.1		330,682		73.6		30,978			9.4			651,518		69.8
Domestic		121,684		25.3		120,996		27.0		688			0.6			226,386		24.3
Overseas		239,976		49.8		209,686		46.6		30,290			14.4			425,132		45.5
Pipe-Related Products		51,974		10.8		53,399		11.9		(1,425	)		(2.7	)		121,836		13.0
Domestic		49,599				48,920				679			1.4			113,584
Overseas		2,375				4,479				(2,104	)		(47.0	)		8,252
Environment-Related Products		24,284		5.0		21,273		4.7		3,011			14.2			70,932		7.6
Domestic		21,897				19,442				2,455			12.6			65,090
Overseas		2,387				1,831				556			30.4			5,842
Water & Environment Systems		76,258		15.8		74,672		16.6		1,586			2.1			192,768		20.6
Domestic		71,496		14.8		68,362		15.2		3,134			4.6			178,674		19.1
Overseas		4,762		1.0		6,310		1.4		(1,548	)		(24.5	)		14,094		1.5
Social Infrastructure		30,603		6.4		31,231		7.0		(628	)		(2.0	)		60,439		6.5
Domestic		23,099		4.8		23,272		5.2		(173	)		(0.7	)		44,278		4.8
Overseas		7,504		1.6		7,959		1.8		(455	)		(5.7	)		16,161		1.7
Other		13,192		2.7		12,461		2.8		731			5.9			28,960		3.1
Domestic		13,005		2.7		12,159		2.7		846			7.0			28,575		3.0
Overseas		187		0.0		302		0.1		(115	)		(38.1	)		385		0.1
Total		481,713		100.0		449,046		100.0		32,667			7.3			933,685		100.0
Domestic		229,284		47.6		224,789		50.1		4,495			2.0			477,913		51.2
Overseas		252,429		52.4		224,257		49.9		28,172			12.6			455,772		48.8

-13-

Kubota Corporation

and Subsidiaries

(9) Anticipated consolidated revenues by reporting segment


	(In billions of yen)
	Year ending Mar. 31, 2012				Year ended Mar. 31, 2011				Change
	Amount		%		Amount		%		Amount			%
Domestic		230.0				226.4				3.6			1.6
Overseas		470.0				425.1				44.9			10.6
Farm & Industrial Machinery		700.0		70.0		651.5		69.8		48.5			7.4
Domestic		190.0				178.7				11.3			6.3
Overseas		15.0				14.1				0.9			6.4
Water & Environment Systems		205.0		20.5		192.8		20.6		12.2			6.3
Domestic		47.0				44.3				2.7			6.1
Overseas		18.0				16.2				1.8			11.4
Social Infrastructure		65.0		6.5		60.4		6.5		4.6			7.5
Domestic		30.0				28.6				1.4			5.0
Overseas		—				0.4				(0.4	)		(100.0	)
Other		30.0		3.0		29.0		3.1		1.0			3.6
Total		1,000.0		100.0		933.7		100.0		66.3			7.1

Domestic		497.0		49.7		477.9		51.2		19.1			4.0
Overseas		503.0		50.3		455.8		48.8		47.2			10.4

-14-

Kubota Corporation

and Subsidiaries

4. The results of operations for the three months ended September 30, 2011

(1) Consolidated statements of income


	(In millions of yen)
	Three months ended Sep. 30, 2011					Three months ended Sep. 30, 2010					Change
	Amount			%		Amount			%		Amount			%

Revenues		266,631			100.0		249,819			100.0		16,812			6.7
Cost of revenues		196,054			73.5		182,557			73.1		13,497			7.4
Selling, general, and administrative expenses		42,719			16.0		41,875			16.8		844			2.0
Other operating expenses		519			0.2		334			0.1		185			55.4

Operating income		27,339			10.3		25,053			10.0		2,286			9.1

Other income (expenses):
Interest and dividend income		462					570					(108	)
Interest expense		(398	)				(469	)				71
Gain on sales of securities-net		—					144					(144	)
Valuation loss on other investments		(1,399	)				—					(1,399	)
Foreign exchange loss -net		(6,107	)				(2,463	)				(3,644	)
Other-net		1,464					787					677

Other income (expenses), net		(5,978	)				(1,431	)				(4,547	)


Income before income taxes and equity in net income of affiliated companies		21,361			8.0		23,622			9.5		(2,261	)		(9.6	)

Income taxes		8,431					7,486					945

Equity in net income of affiliated companies		948					509					439


Net income		13,878			5.2		16,645			6.7		(2,767	)		(16.6	)

Less: Net income attributable to noncontrolling interests		1,151					1,685					(534	)


Net income attributable to Kubota Corporation		12,727			4.8		14,960			6.0		(2,233	)		(14.9	)


Net income attributable to Kubota Corporation per common share

	(In yen)

Basic		10.05					11.76

-15-

Kubota Corporation

and Subsidiaries

(2) Consolidated segment information

1) Reporting segments


Three months ended September 30, 2011	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		198,144		45,539		16,081		6,867		—			266,631
Intersegment		14		148		922		4,673		(5,757	)		—

Total		198,158		45,687		17,003		11,540		(5,757	)		266,631

Operating income		28,183		2,709		586		402		(4,541	)		27,339


Three months ended September 30, 2010	(In millions of yen)
	Farm & Industrial Machinery		Water & Environment Systems		Social Infrastructure		Other		Adjustments			Consolidated
Revenues
External customers		182,678		43,951		16,181		7,009		—			249,819
Intersegment		21		201		760		3,375		(4,357	)		—

Total		182,699		44,152		16,941		10,384		(4,357	)		249,819

Operating income		25,363		2,010		1,390		464		(4,174	)		25,053

Notes:

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

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

2) Geographic segments


Information for revenues from external customers by destination	(In millions of yen)
	Three months ended Sep. 30, 2011		Three months ended Sep. 30, 2010
Japan		129,490		126,154
North America		55,213		46,789
Europe		24,901		22,886
Asia Outside Japan		48,766		46,490
Other Areas		8,261		7,500

Total		266,631		249,819

Notes:

1. Revenues from North America include those from the United States of ¥48,268 million and ¥39,722 million for the three months ended September 30, 2011 and 2010, respectively.

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

-16-

Kubota Corporation

and Subsidiaries

(3) Consolidated revenues by reporting segment


	(In millions of yen)
	Three months ended Sep. 30, 2011				Three months ended Sep. 30, 2010				Change
	Amount		%		Amount		%		Amount			%
Farm Equipment and Engines		171,734		64.4		162,159		64.9		9,575			5.9
Domestic		61,291				61,537				(246	)		(0.4	)
Overseas		110,443				100,622				9,821			9.8
Construction Machinery		26,410		9.9		20,519		8.2		5,891			28.7
Domestic		6,634				5,026				1,608			32.0
Overseas		19,776				15,493				4,283			27.6
Farm & Industrial Machinery		198,144		74.3		182,678		73.1		15,466			8.5
Domestic		67,925		25.5		66,563		26.6		1,362			2.0
Overseas		130,219		48.8		116,115		46.5		14,104			12.1
Pipe-Related Products		30,626		11.5		31,652		12.7		(1,026	)		(3.2	)
Domestic		29,333				29,207				126			0.4
Overseas		1,293				2,445				(1,152	)		(47.1	)
Environment-Related Products		14,913		5.6		12,299		4.9		2,614			21.3
Domestic		13,346				11,503				1,843			16.0
Overseas		1,567				796				771			96.9
Water & Environment Systems		45,539		17.1		43,951		17.6		1,588			3.6
Domestic		42,679		16.0		40,710		16.3		1,969			4.8
Overseas		2,860		1.1		3,241		1.3		(381	)		(11.8	)
Social Infrastructure		16,081		6.0		16,181		6.5		(100	)		(0.6	)
Domestic		12,083		4.5		12,136		4.9		(53	)		(0.4	)
Overseas		3,998		1.5		4,045		1.6		(47	)		(1.2	)
Other		6,867		2.6		7,009		2.8		(142	)		(2.0	)
Domestic		6,803		2.6		6,745		2.7		58			0.9
Overseas		64		0.0		264		0.1		(200	)		(75.8	)
Total		266,631		100.0		249,819		100.0		16,812			6.7
Domestic		129,490		48.6		126,154		50.5		3,336			2.6
Overseas		137,141		51.4		123,665		49.5		13,476			10.9

-17-

November 2, 2011

To whom it may concern


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

Notice on interim dividend

Please be advised that Kubota Corporation (hereinafter “the Company”) resolved at the Board of Directors’ Meeting held on November 2, 2011 that the Company would pay interim dividend the record date of which was September 30, 2011.

1. Details of interim dividend


	Interim dividend of this fiscal year	Latest forecast (Released on August 2, 2011)	Interim dividend of the prior year
Record date	September 30, 2011	September 30, 2011	September 30, 2010
Dividend per common share	¥7	To be determined	¥7
Amount of dividend	¥8,794 million	—	¥8,905 million
Date of payment	December 2, 2011	—	December 2, 2010
Resource of interim dividend	Retained earnings	—	Retained earnings

2. Reasons for interim dividend amount

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

The Company declared the annual dividend of ¥14 per common share in the prior year, which was ¥2 more than the preceding year, including the interim dividend of ¥7 and the year-end dividend of ¥7. Based on the annual dividend of the prior year, the Company decided to pay a half of the prior year’s annual dividend as the interim dividend of this fiscal year.

(Reference)


	(per common share)
	Interim dividend	Year-end dividend	Total
This fiscal year (Year ending March 31, 2012)	¥7	To be determined	To be determined
The prior year (Year ended March 31, 2011)	¥7	¥7	¥14

< Cautionary Statements with Respect to Forward-Looking Statements >

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

End of document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	KUBOTA CORPORATION

Date: November 2, 2011	By:	/s/ Yoshiyuki Fujita
	Name:	Yoshiyuki Fujita
	Title:	Executive Officer
		General Manager of
		Global Management Promotion Department

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