Declared Dividend • May 20
Dividend of JP¥26.00 announced Shareholders will receive a dividend of JP¥26.00. Ex-date: 29th June 2026 Payment date: 1st September 2026 Dividend yield will be 181%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Senior Managing Executive Officer, CTO & Director Nobushige Ichikawa was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 03
Kubota Corporation to Report Q1, 2026 Results on May 08, 2026 Kubota Corporation announced that they will report Q1, 2026 results on May 08, 2026 Announcement • Dec 27
Kubota Corporation to Report Fiscal Year 2025 Results on Feb 12, 2026 Kubota Corporation announced that they will report fiscal year 2025 results on Feb 12, 2026 Announcement • Dec 05
Alsok Co.,Ltd. (TSE:2331) signed a Share Transfer Agreement to acquire 60% stake in Heiwa Kanzai K.K. from Kubota Corporation (TSE:6326). Alsok Co.,Ltd. (TSE:2331) signed a Share Transfer Agreement to acquire 60% stake in Heiwa Kanzai K.K. from Kubota Corporation (TSE:6326) on December 3, 2025. Upon completion, Hulic Co., Ltd. and Mizuho Bank, Ltd. will continue to hold 35% and 5% stake respectively in Heiwa Kanzai K.K. The transaction is expected to be completed in March 2026. Announcement • Sep 27
Kubota Corporation to Report Q3, 2025 Results on Nov 07, 2025 Kubota Corporation announced that they will report Q3, 2025 results on Nov 07, 2025 Announcement • Jun 19
Kubota Corporation Announces Appointment of Todd Stucke as Deputy General Manager of Farm and Industrial Machinery Consolidated Division and Deputy General Manager of the Customer Solutions Division, Effective July 1, 2025 Kubota North America Corporation (KNA) announced significant leadership changes following the Kubota Corporation (KBT) Board of Directors meeting held in Osaka, Japan. Effective July 1, 2025, Todd Stucke will take on new responsibilities in Japan as Deputy General Manager of Farm and Industrial Machinery Consolidated Division and Deputy General Manager of the Customer Solutions Division at KBT. In his new role, Stucke, the first appointed American President of KTC, will focus on global business operations for the machinery division and growth of Kubota's global sales and product support strategy at KBT in Japan. With 35 years of industry experience in both equipment and agriculture, Stucke will continue to serve on the Board of Directors for the Association of Equipment Manufacturers (AEM) where he previously served as Chairman in 2024, following roles as Vice Chair in 2023, Treasurer, and Ag Sector Board Chair in 2020. Announcement • Jun 03
Kubota Corporation to Report Q2, 2025 Results on Aug 05, 2025 Kubota Corporation announced that they will report Q2, 2025 results on Aug 05, 2025 Announcement • Apr 22
Kubota Corporation (TSE:6326) announces an Equity Buyback for 16,000,000 shares, representing 1.39% for ¥20,000 million. Kubota Corporation (TSE:6326) announces a share repurchase program. Under the program, the company will repurchase up to 16,000,000 shares, representing 1.39% of its issued share capital, for a total purchase price of ¥20,000 million. The purpose of the program is to improve value per share, as a part of returning profit to shareholders. The program will be valid till December 15, 2025. As of March 31, 2025, the company had 1,150,896,846 issued shares and 27,639 treasury shares. Announcement • Apr 01
Kubota Corporation to Report Q1, 2025 Results on May 09, 2025 Kubota Corporation announced that they will report Q1, 2025 results on May 09, 2025 Announcement • Mar 01
Kubota Corporation to Report Q1, 2025 Results on May 29, 2025 Kubota Corporation announced that they will report Q1, 2025 results on May 29, 2025 Announcement • Dec 03
Kubota Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Kubota Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Declared Dividend • Nov 11
Dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th December 2024 Payment date: 25th March 2025 Dividend yield will be 215%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: JP¥40.50 (vs JP¥45.42 in 3Q 2023) Third quarter 2024 results: EPS: JP¥40.50 (down from JP¥45.42 in 3Q 2023). Revenue: JP¥698.3b (down 5.4% from 3Q 2023). Net income: JP¥47.1b (down 12% from 3Q 2023). Profit margin: 6.7% (down from 7.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Nov 08
Kubota Corporation Provides Year-End Dividend Guidance for the Year Ending December 31, 2024 Kubota Corporation provided year-end dividend guidance for the year ending December 31, 2024. For the year, the company expects to pay year-end dividend of JPY 25 per share, compared with a year-end dividend of JPY 24 per share for the year ended December 31, 2023. Announcement • Sep 18
Kubota Corporation to Report Q3, 2024 Results on Nov 08, 2024 Kubota Corporation announced that they will report Q3, 2024 results on Nov 08, 2024 Buy Or Sell Opportunity • Aug 16
Now 22% overvalued Over the last 90 days, the stock has fallen 6.9% to €12.87. The fair value is estimated to be €10.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings are also forecast to grow by 2.2% per annum over the same time period. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: JP¥66.27 (vs JP¥50.43 in 2Q 2023) Second quarter 2024 results: EPS: JP¥66.27 (up from JP¥50.43 in 2Q 2023). Revenue: JP¥804.4b (up 8.9% from 2Q 2023). Net income: JP¥77.9b (up 30% from 2Q 2023). Profit margin: 9.7% (up from 8.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Aug 07
Kubota Corporation Announces Interim Dividend for the Fiscal Year Ending December 31, 2024, Payable on September 2, 2024 Kubota Corporation has resolved at the Meeting of Board of Directors held on August 7, 2024 that the Company would pay interim dividend of ¥25 per common share for the fiscal Year ending December 31, 2024 with the record date of June 30, 2024. Amount of dividend ¥29,416 million. Date of payment is on September 2, 2024. Resource of interim dividend: Retained earnings, against ¥24 per common share for the same period a year ago. Reasons for determination of interim dividend amount: The Company's basic policy for the return of profit to shareholders is to maintain stable dividends and raise dividends together with share buy-backs and retirement of treasury shares. Considering the basic policy and the Company's current business performance, the Company decided to pay ¥25 per common share as the interim dividend of this fiscal year, which will be ¥1 increase from the previous year ended December 31, 2023. The specific amount of year-end cash dividend for the year ending December 31, 2024 is not decided at this time. Announcement • Jun 06
Kubota Corporation to Report Q2, 2024 Results on Aug 07, 2024 Kubota Corporation announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • May 13
First quarter 2024 earnings released: EPS: JP¥62.06 (vs JP¥58.11 in 1Q 2023) First quarter 2024 results: EPS: JP¥62.06 (up from JP¥58.11 in 1Q 2023). Revenue: JP¥775.2b (flat on 1Q 2023). Net income: JP¥72.9b (up 5.5% from 1Q 2023). Profit margin: 9.4% (up from 8.8% in 1Q 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • May 05
Final dividend of JP¥24.00 announced Shareholders will receive a dividend of JP¥24.00. Ex-date: 27th June 2024 Payment date: 2nd September 2024 Dividend yield will be 161%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 17
Kubota Corporation (TSE:6326) announces an Equity Buyback for 17,000,000 shares, representing 1.44% for ¥30,000 million. Kubota Corporation (TSE:6326) announces a share repurchase program. Under the program, the company will repurchase up to 17,000,000 shares, representing 1.44% of its issued share capital, for a total purchase price of ¥30,000 million. The purpose of the program is to improve value per share, as a part of returning profit to shareholders. The program will be valid till December 16, 2024. As of March 31, 2024, the company had 1,176,642,876 issued shares and 23,970 treasury shares. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: JP¥202 (vs JP¥131 in FY 2022) Full year 2023 results: EPS: JP¥202 (up from JP¥131 in FY 2022). Revenue: JP¥3.02t (up 13% from FY 2022). Net income: JP¥238.5b (up 52% from FY 2022). Profit margin: 7.9% (up from 5.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Feb 24
Kubota Corporation to Report Q1, 2024 Results on May 10, 2024 Kubota Corporation announced that they will report Q1, 2024 results on May 10, 2024 Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: JP¥202 (vs JP¥131 in FY 2022) Full year 2023 results: EPS: JP¥202 (up from JP¥131 in FY 2022). Revenue: JP¥3.02t (up 13% from FY 2022). Net income: JP¥238.5b (up 53% from FY 2022). Profit margin: 7.9% (up from 5.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 15
Kubota Corporation, Annual General Meeting, Mar 22, 2024 Kubota Corporation, Annual General Meeting, Mar 22, 2024. Buy Or Sell Opportunity • Jan 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.5% to €13.50. The fair value is estimated to be €11.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 2.4% per annum. Earnings are also forecast to grow by 4.5% per annum over the same time period. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥24.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 27 March 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.7%). Announcement • Dec 05
Kubota Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Kubota Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: JP¥45.42 (vs JP¥35.39 in 3Q 2022) Third quarter 2023 results: EPS: JP¥45.42 (up from JP¥35.39 in 3Q 2022). Revenue: JP¥738.2b (up 6.4% from 3Q 2022). Net income: JP¥53.5b (up 27% from 3Q 2022). Profit margin: 7.3% (up from 6.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 27
Kubota Corporation to Report Q3, 2023 Results on Nov 08, 2023 Kubota Corporation announced that they will report Q3, 2023 results on Nov 08, 2023 Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: JP¥50.43 (vs JP¥34.79 in 2Q 2022) Second quarter 2023 results: EPS: JP¥50.43 (up from JP¥34.79 in 2Q 2022). Revenue: JP¥738.5b (up 11% from 2Q 2022). Net income: JP¥59.7b (up 43% from 2Q 2022). Profit margin: 8.1% (up from 6.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Kubota Corporation (TSE:6326) announces an Equity Buyback for 6,000,000 shares, representing 0.51% for ¥10,000 million. Kubota Corporation (TSE:6326) announces a share repurchase program. Under the program, the company will repurchase up to 6,000,000 shares, representing 0.51% of its issued share capital, for a total purchase price of ¥10,000 million. The purpose of the program is to improve value per share, as a part of returning profit to shareholders. The program will be valid till December 18, 2023. As of July 31, 2023, the company had 1,181,066,035 issued shares and 10,811 treasury shares. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥22.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 01 September 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.8%). Announcement • May 28
Kubota Corporation to Report Q2, 2023 Results on Aug 04, 2023 Kubota Corporation announced that they will report Q2, 2023 results on Aug 04, 2023 Reported Earnings • May 16
First quarter 2023 earnings released: EPS: JP¥58.11 (vs JP¥41.33 in 1Q 2022) First quarter 2023 results: EPS: JP¥58.11 (up from JP¥41.33 in 1Q 2022). Revenue: JP¥781.6b (up 32% from 1Q 2022). Net income: JP¥69.1b (up 39% from 1Q 2022). Profit margin: 8.8% (up from 8.4% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 13
Kubota Corporation Provides Earnings Guidance for the Six Months Ending June 30, 2023 and Year Ending December 31, 2023 Kubota Corporation provided earnings guidance for the six months ending June 30, 2023 and year ending December 31, 2023. For the six months ending June 30, 2023, the company expects revenue of JPY 1,480,000 million, operating profit of JPY 150,000 million, profit attributable to owners of the parent of JPY 104,000 million and earnings per share attributable to owners of the parent – basic of JPY 87.46. For the year ending December 31, 2023, the company expects revenue of JPY 2,900,000 million, operating profit of JPY 270,000 million, profit attributable to owners of the parent of JPY 186,000 million and earnings per share attributable to owners of the parent – basic of JPY 156.41. Reported Earnings • Mar 28
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥2.68t (up 22% from FY 2021). Net income: JP¥156.2b (down 11% from FY 2021). Profit margin: 5.8% (down from 8.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Kubota Corporation, Annual General Meeting, Mar 24, 2023 Kubota Corporation, Annual General Meeting, Mar 24, 2023. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: JP¥131 (vs JP¥146 in FY 2021) Full year 2022 results: EPS: JP¥131 (down from JP¥146 in FY 2021). Revenue: JP¥2.68t (up 22% from FY 2021). Net income: JP¥156.2b (down 11% from FY 2021). Profit margin: 5.8% (down from 8.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 28
Kubota Corporation to Report Fiscal Year 2022 Results on Feb 14, 2023 Kubota Corporation announced that they will report fiscal year 2022 results on Feb 14, 2023 Upcoming Dividend • Dec 22
Upcoming dividend of JP¥22.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 22 March 2023. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kumi Arakane was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 10
Kubota Corporation Provides Earnings Guidance for the Full Year Ending December 31, 2022 Kubota Corporation provided earnings guidance for the full year ending December 31, 2022. The company expects revenue of ¥2,600,000 million, operating profit of ¥240,000 million, Profit attributable to owners of the parent to ¥173,000 million or ¥144.91 per share. Announcement • Sep 18
Kubota Corporation to Report Q3, 2022 Results on Nov 09, 2022 Kubota Corporation announced that they will report Q3, 2022 results on Nov 09, 2022 Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: JP¥34.79 (vs JP¥42.14 in 2Q 2021) Second quarter 2022 results: EPS: JP¥34.79 (down from JP¥42.14 in 2Q 2021). Revenue: JP¥667.3b (up 18% from 2Q 2021). Net income: JP¥41.7b (down 18% from 2Q 2021). Profit margin: 6.2% (down from 9.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.6%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Announcement • Jul 01
Kubota Corporation to Report Q2, 2022 Results on Aug 03, 2022 Kubota Corporation announced that they will report Q2, 2022 results on Aug 03, 2022 Upcoming Dividend • Jun 22
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (2.7%). Buying Opportunity • Jun 11
Now 21% undervalued Over the last 90 days, the stock is up 7.1%. The fair value is estimated to be €21.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 8.4%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings is also forecast to grow by 6.3% per annum over the same time period. Board Change • May 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kumi Arakane was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: JP¥41.33 (vs JP¥43.08 in 1Q 2021) First quarter 2022 results: EPS: JP¥41.33 (down from JP¥43.08 in 1Q 2021). Revenue: JP¥593.2b (up 10% from 1Q 2021). Net income: JP¥49.6b (down 4.7% from 1Q 2021). Profit margin: 8.4% (down from 9.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.4%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Kumi Arakane was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 21
Kubota Corporation (TSE:6326) announces an Equity Buyback for 11,500,000 shares, representing 0.96% for ¥20,000 million. Kubota Corporation (TSE:6326) announces a share repurchase program. Under the program, the company will repurchase up to 11,500,000 shares, representing 0.96% of its issued share capital, for a total purchase price of ¥20,000 million. The purpose of the program is to improve value per share, as a part of returning profit to shareholders. The program will be valid till December 15, 2022. As of March 31, 2022, the company had 120,0246,846 issued shares and 2,532 treasury shares. Announcement • Apr 08
Kubota Corporation to Report Q1, 2022 Results on May 02, 2022 Kubota Corporation announced that they will report Q1, 2022 results on May 02, 2022 Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JP¥146 (up from JP¥106 in FY 2020). Revenue: JP¥2.20t (up 19% from FY 2020). Net income: JP¥175.6b (up 37% from FY 2020). Profit margin: 8.0% (up from 6.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.8%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Announcement • Feb 16
Kubota Corporation, Annual General Meeting, Mar 18, 2022 Kubota Corporation, Annual General Meeting, Mar 18, 2022. Agenda: To consider a proposal regarding revision to the amount of monetary compensation in accordance with the revision to the Remuneration Plan; to consider a proposal regarding introduction of the (said) performance-linked stock compensation plan using a trust; and to consider other matters. Announcement • Feb 15
Kubota Corporation Announces Year End Dividend for the Year Ended December 31, 2021, Payable on March 22, 2022 Kubota Corporation announced year end dividend of ¥21 per share for the year ended December 31, 2021. Record date is December 31, 2021. Date of payment is March 22, 2022. Upcoming Dividend • Dec 23
Upcoming dividend of JP¥21.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 22 March 2022. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (1.2%). Announcement • Dec 08
Kubota Corporation (TSE:6326) completed the acqusiition of AgJunction Inc. (TSX:AJX) from officers and directors of AgJunction Inc., IGC Holding LP and others. Kubota Corporation (TSE:6326) entered into a definitive arrangement agreement to acquire AgJunction Inc. (TSX:AJX) from officers and directors of AgJunction Inc., IGC Holding LP and others for CAD 90.6 million on October 7, 2021. Under the Transaction, the Purchaser will acquire all issued and outstanding AgJunction common shares in exchange for the payment to shareholders of the Purchase Price for each AgJunction common share held i.e., in an all-cash transaction for CAD 0.75 per common share with a total equity value, on a fully diluted basis, of approximately CAD 91 million. Upon closing of the Transaction, the AgJunction common shares will be de-listed from the TSX. The Arrangement Agreement provides for a non-completion fee of approximately CAD 4.5 million or 5% of cash consideration. The non-completion fee is payable in the event that the Transaction is not completed or is terminated by AgJunction or the Purchaser in certain circumstances, including if AgJunction enters into an agreement with respect to a superior proposal or if the AgJunction Board and the Arrangement Agreement also provides a reverse termination fee of approximately CAD 4.5 million or 5% of cash consideration.
The Transaction is subject to approval by shareholders at the Meeting, including the approval of: (a) at least two-thirds of the votes cast by the shareholders in person or represented by proxy at the Meeting; and (b) a "majority of the minority", being a majority of the votes cast by shareholders in person or represented by proxy at the Meeting, after excluding the votes cast by those shareholders whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 along with receiving approval from shareholders of AgJunction. The transaction is also subject to the final approval of the Court of Queen's Bench of Alberta following the Meeting, the completion of applicable regulatory filings, holders of no more than 10% of all of the issued and outstanding AgJunction Shares shall have validly exercised Dissent Rights and the satisfaction of certain closing conditions customary in transactions of this nature, including the absence of material adverse changes in the business and affairs of AgJunction. Transaction is not subject to any financing conditions which provides AgJunction shareholders with an immediate opportunity to realize full liquidity and certainty of value in cash for their investment in AgJunction. The Board of Directors of AgJunction have given unanimous approval for the acquisition based on the unanimous recommendation of its special committee of independent Directors and unanimously recommends that AgJunction shareholders vote in favor of the Transaction. AgJunction will seek approval of the Transaction by its shareholders at a special meeting expected to be held in November 2021. As of October 26, 2021, meeting of the shareholders of AgJunction Inc. (the "Corporation") to be held on November 24, 2021. The Meeting is being held pursuant to an interim order from the Court of Queen’s Bench of Alberta obtained on October 19, 2021. Shareholders holding approximately 20% stake in AgJunction have confirmed their support for the transaction. The transaction is also expected to accelerate the execution of AgJunction's business plan, enhance access to additional customers and markets, provide efficiencies from greater scale and allows the opportunity for the retention of many AgJunction employees in the go-forward entity." AgJunction recommended that shareholders of AgJunction vote FOR a special resolution approving the Arrangement between AgJunction and Kubota Corporation. As of November 24, 2021, the shareholders of AgJunction approved the transaction. AgJunction expects to apply for the final approval of the Court of Queen’s Bench of Alberta of the Arrangement on November 29, 2021 and, assuming such order is granted on the terms and conditions contemplated by AgJunction and Kubota Canada. On November 29, 2021, AgJunction received final approval from the Court of Queen’s Bench of Alberta for the transaction. Closing of the Arrangement is expected to occur on or about December 7, 2021.
Piper Sandler & Co. and Research Capital Corporation acted as financial advisor to the Special Committee of AgJunction. Research Capital Corporation also provided verbal fairness opinion to AgJunction in the transaction. DLA Piper (Canada) LLP acted as independent legal advisor to Special Committee of AgJunction. Jay P. Reid of Burnet, Duckworth & Palmer LLP is acting as legal counsel to AgJunction. Lazard Frères & Co. LLC is acting as financial advisor and Gaku Ishiwata of Mori Hamada & Matsumoto and Chris Murray, Drew Morier, Clark Holden and Melanie Gaston of Osler, Hoskin & Harcourt LLP are acting as legal advisors to Kubota. Computershare Trust Company of Canada acted as Transfer Agent and Registrar to AgJunction. Kingsdale Advisors acted as proxy solicitor to AgJunction.
Kubota Corporation (TSE:6326) completed the acqusiition of AgJunction Inc. (TSX:AJX) from officers and directors of AgJunction Inc., IGC Holding LP and others on December 7, 2021. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS JP¥36.16 (vs JP¥30.47 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥540.2b (up 14% from 3Q 2020). Net income: JP¥43.7b (up 18% from 3Q 2020). Profit margin: 8.1% (up from 7.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 7% per year. Announcement • Sep 24
Kubota Reportedly in Talks with Promoters of Escorts Limited to Increase Its Stake Kubota Corporation (TSE:6326) is in talks with the Nanda family "promoters of Escorts Limited (NSEI:ESCORTS)" to increase its stake and eventually become a controlling shareholder in the tractor maker and engineering construction company, said people aware of the matter. This is part of the Osaka-based conglomerate's strategy to double down on the growth potential of the tractor market in India. Escorts is exploring a complete sale of the promoter holding, although this could happen in stages, said the people cited above. As per plan, Kubota Corp. intends to initially pick up around 15% from the promoters, said the people mentioned above. “Eventually, the Nanda family will sell the firm out completely to Kubota. However, as of now, the Japanese are also slightly cautious and are not in a hurry,” said one of the people cited above. “Most probably, these shares would be brought from the Escorts Benefit & Welfare Trust” . Escorts told ET, “This was market speculation. As a matter of company policy we do not comment on speculations or rumours”. Kubota didn't respond to queries sent on September 21, 2021. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS JP¥42.14 (vs JP¥31.87 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥563.7b (up 27% from 2Q 2020). Net income: JP¥50.9b (up 31% from 2Q 2020). Profit margin: 9.0% (up from 8.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 01 September 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.0%). Reported Earnings • May 17
First quarter 2021 earnings released: EPS JP¥43.08 (vs JP¥17.01 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: JP¥537.7b (up 22% from 1Q 2020). Net income: JP¥52.0b (up 151% from 1Q 2020). Profit margin: 9.7% (up from 4.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • May 15
Kubota Corporation Provides Earnings Guidance for the Six Months Ending June 30, 2021 and Year Ending December 31, 2021 Kubota Corporation provided earnings guidance for the six months ending June 30, 2021 and year ending December 31, 2021. For the six months ending June 30, 2021, the company expects revenue of JPY 1,040,000 million, operating profit of JPY 120,000 million, profit attributable to owners of the parent of JPY 88,000 million and earnings per share attributable to owners of the parent – basic of JPY 72.85.
For the year ending December 31, 2021, the company expects revenue of JPY 2,050,000 million, operating profit of JPY 220,000 million, profit attributable to owners of the parent of JPY 158,000 million and earnings per share attributable to owners of the parent – basic of JPY 130.80. Announcement • Apr 21
Kubota Corporation (TSE:6326) announces an Equity Buyback for 11,000,000 shares, representing 0.91% for ¥20,000 million. Kubota Corporation (TSE:6326) announces a share repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 0.91% of its issued share capital (excluding treasury stock), for a total purchase price of ¥20,000 million. The purpose of the program is to improve value per share, as a part of returning profit to shareholders. The program will be valid till December 15, 2021. As of March 31, 2021, the company had 1,208,576,846 issued shares (excluding treasury stock) and 307,180 treasury shares. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS JP¥106 (vs JP¥122 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥1.85t (down 3.5% from FY 2019). Net income: JP¥128.5b (down 14% from FY 2019). Profit margin: 6.9% (down from 7.8% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS JP¥106 (vs JP¥122 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥1.85t (down 3.5% from FY 2019). Net income: JP¥128.5b (down 14% from FY 2019). Profit margin: 6.9% (down from 7.8% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 8.3%, compared to a 5.0% growth forecast for the Machinery industry in Germany. Announcement • Feb 16
Kubota Corporation, Annual General Meeting, Mar 19, 2021 Kubota Corporation, Annual General Meeting, Mar 19, 2021. Is New 90 Day High Low • Feb 10
New 90-day high: €19.80 The company is up 21% from its price of €16.40 on 11 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.39 per share. Is New 90 Day High Low • Jan 15
New 90-day high: €18.30 The company is up 19% from its price of €15.40 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.71 per share. Is New 90 Day High Low • Dec 28
New 90-day high: €18.00 The company is up 16% from its price of €15.50 on 29 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €25.27 per share. Announcement • Dec 26
Kubota Corporation to Report Fiscal Year 2020 Results on Feb 15, 2021 Kubota Corporation announced that they will report fiscal year 2020 results on Feb 15, 2021 Upcoming Dividend • Dec 22
Upcoming Dividend of JP¥19.00 Per Share Will be paid on the 23rd of March to those who are registered shareholders by the 29th of December. The trailing yield of 1.7% is below the top quartile of German dividend payers (3.5%), but is in line with industry peers (1.8%). Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS JP¥30.47 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: JP¥472.6b (down 3.5% from 3Q 2019). Net income: JP¥36.9b (down 11% from 3Q 2019). Profit margin: 7.8% (down from 8.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Analyst Estimate Surprise Post Earnings • Nov 17
Revenue beats expectations Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 6.1%, compared to a 2.9% growth forecast for the Machinery industry in Germany. Is New 90 Day High Low • Nov 07
New 90-day high: €16.40 The company is up 30% from its price of €12.60 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.90 per share. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS JP¥30.46 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: JP¥472.6b (down 3.5% from 3Q 2019). Net income: JP¥36.9b (down 11% from 3Q 2019). Profit margin: 7.8% (down from 8.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 5.9% while the growth in Machinery industry in Germany is expected to stay flat. Announcement • Nov 06
Kubota Corporation Announces Executive Changes Kubota Corporation announced at the board meeting held on November 05, 2020, the shareholders appointed Kazuhiro Kimura from Managing Executive Officer to Senior Managing Executive Officer and Muneji Okamoto from Executive Officer to Managing Executive Officer. The board announced that retirement of Shinji Sasak and Kunio Suwa as Executive Officers. 
