On the 14th, Kubota Corporation (6310) announced its consolidated financial results for the third quarter of the fiscal year ending December 2024 (January-September 24). Revenue decreased by 3.3% year-on-year to 128.579 billion yen, operating profit decreased by 14.0% to 3.109 billion yen, ordinary profit decreased by 24.7% to 2.917 billion yen, and the quarterly net loss attributable to parent company shareholders was 0.53 billion yen (compared to a profit of 2.079 billion yen in the same period last year).
Domestic revenue amounted to 83.627 billion yen, a 3.3% decrease compared to the same period last year. The decrease was mainly attributed to agricultural machinery products and construction works, while maintenance income from repair parts and repair services remained solid.
Overseas revenue amounted to 44.951 billion yen, a 3.2% decrease. The North American market saw a sluggish trend in the compact tractor segment, while demand softened in ASEAN countries, South Korea in Asia. On the other hand, European sales of products for landscaping and purchased goods remained solid.
Regarding the consolidated performance forecast for the full year ending December 2024, the company is maintaining the revised plan announced on July 18, with revenue expected to remain the same as the previous year at 170 billion yen, operating profit to decrease by 11.3% to 2 billion yen, ordinary profit to decrease by 52.2% to 1 billion yen, and the net loss attributable to parent company shareholders for the current period to be 3.1 billion yen.