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Kubota Q3 profit climbs 8.1% YOY

Kubota Corp. said its normalized net income for the third quarter was ¥22.06 per share, an increase of 8.7% from ¥20.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥27.27 billion, an increase of 8.1% from ¥25.23 billion in the prior-year period.

The normalized profit margin fell to 6.5% from 6.5% in the year-earlier period.

Total revenue rose 9.2% on an annual basis to ¥420.65 billion from ¥385.24 billion, and total operating expenses increased 10.0% on an annual basis to ¥376.70 billion from ¥342.61 billion.

Reported net income rose 13.5% year over year to ¥34.90 billion, or ¥28.23 per share, from ¥30.75 billion, or ¥24.74 per share.

As of Nov. 10, US$1 was equivalent to ¥113.32.