Kubota's operating profit rose 40.9% to ¥302.6bn in the nine months to 30 September, on sales up 12.4% to ¥2.48tn, according to its third-quarter results statement.
What drove the gain
Kubota lists several offsets: the effect of US tariffs and inflation-driven cost increases. Against those, it cites currency improvement, price revisions and higher-volume profit in machinery, mainly in North America, plus tariff refunds. The statement gives no amount for the refunds, so their share of the ¥87.9bn rise is not stated.
Machinery, 88.6% of sales, produced segment profit of ¥280.7bn, up 42.9%, on sales up 14.0%. In North America, Kubota says the tractor market shrank on weaker farm incomes and inflation, yet its sales rose as inventory normalised. Construction equipment demand held up on public and private building, though housing-related demand was soft.
Water and environment went the other way: segment profit fell 4.6% to ¥19.9bn as raw-material costs outran price increases.
Comparability and outlook
Kubota now allocates costs it previously held in a corporate adjustment line to its business segments, and prior-year comparisons use restated figures. Profit attributable to owners of the parent rose 58.5% to ¥225.0bn.
Full-year guidance is unchanged from the 4 August forecast: operating profit of ¥400bn on sales of ¥3.28tn, assuming ¥157 to the dollar and ¥183 to the euro.