Kubota (6326) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 12.4% YoY to ¥2,478,111m; operating profit increased 40.9% to ¥302,570m, led by Farm & Industrial Machinery.

• Profit attributable to owners rose 58.5% to ¥225,016m; full-year 2026 guidance remained unchanged.

• Results fell short of expectations as tariff refunds arrived more slowly than expected, though operating profit grew YoY excluding FX effects.

Financial highlights

• Domestic revenue rose 7.0% to ¥537,030m and overseas revenue rose 14.0% to ¥1,941,081m.

• Profit before income taxes rose 39.8% to ¥318,514m; profit for the period increased 45.7% to ¥242,031m.

• Comprehensive income was ¥221,210m, versus ¥80,125m a year earlier, including ¥20,821m of net other comprehensive loss.

Outlook and guidance

• FY 2026 forecast unchanged: revenue ¥3,280bn, operating profit ¥400bn, pretax profit ¥417bn, owner-attributable profit ¥289bn and basic EPS ¥255.55.

• Forecast assumptions were ¥157 per US dollar and ¥183 per euro; dividend forecast was ¥52 per share, including ¥26 interim, versus ¥50 total in FY 2025.

• Delays make receipt of the full tariff-refund amount within FY 2026 unlikely; required procedures are complete and action from relevant authorities is pending.

• Production and shipments are being adjusted to demand; production of new models in India is expected to ramp up steadily.