Kubota (KUBTY) 20-F 25 Jun 10 2010 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information
	12 Months Ended Mar. 31, 2010 JPY (¥)	Mar. 31, 2010 JPY (¥)
Document Type	20-F
Amendment Flag	false
Document Period End Date	2010-03-31
Document Fiscal Year Focus	2,010
Document Fiscal Period Focus	FY
Trading Symbol	KUB
Entity Registrant Name	KUBOTA CORP
Entity Central Index Key	0000109821
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,271,846,635

Consolidated Balance Sheets

Consolidated Balance Sheets (JPY ¥)
In Millions	12 Months Ended Mar. 31, 2010	12 Months Ended Mar. 31, 2009
Current assets:
Cash and cash equivalents	111428	69505
Notes and accounts receivable:
Trade notes	57,412	65,429
Trade accounts	317,485	324,583
Less: Allowance for doubtful notes and accounts receivable	(2,821)	(2,512)
Short-term finance receivables-net	104,840	97,292
Inventories	172,323	207,401
Other current assets	60,161	54,648
Total current assets	820,828	816,346
Investments and long-term finance receivables:
Investments in and loan receivables from affiliated companies	15,945	14,511
Other investments	109,306	96,197
Long-term finance receivables-net	196,473	169,257
Total investments and long-term finance receivables	321,724	279,965
Property, plant, and equipment:
Land	89,664	90,479
Buildings	214,329	208,901
Machinery and equipment	358,354	361,323
Construction in progress	5,306	6,970
Total	667,653	667,673
Accumulated depreciation	(446,760)	(442,052)
Net property, plant, and equipment	220,893	225,621
Other assets:
Long-term trade accounts receivable	26,688	27,071
Other	19,670	37,680
Less: Allowance for doubtful non-current receivables	(770)	(859)
Total other assets	45,588	63,892
Total	1,409,033	1,385,824
Current liabilities:
Short-term borrowings	88,333	132,100
Trade notes payable	14,266	16,405
Trade accounts payable	143,683	163,222
Advances received from customers	3,397	6,306
Notes and accounts payable for capital expenditures	9,245	13,301
Accrued payroll costs	25,856	26,266
Accrued expenses	27,352	25,717
Income taxes payable	22,842	4,733
Other current liabilities	33,832	45,947
Current portion of long-term debt	71,432	60,378
Total current liabilities	440,238	494,375
Long-term liabilities:
Long-term debt	243,333	208,588
Accrued retirement and pension costs	40,177	56,591
Other long-term liabilities	13,666	10,027
Total long-term liabilities	297,176	275,206
Commitments and contingencies
Kubota Corporation shareholders' equity:
Common stock, authorized 1,874,700,000 shares in 2010 and 2009, respectively issued 1,285,919,180 shares in 2010 and 2009, respectively	84,070	84,070
Capital surplus	89,241	93,150
Legal reserve	19,539	19,539
Retained earnings	477,303	452,791
Accumulated other comprehensive loss	(34,491)	(62,184)
Treasury stock (14,072,545 shares and 13,856,291 shares in 2010 and 2009, respectively), at cost	(9,265)	(9,082)
Total Kubota Corporation shareholders' equity	626,397	578,284
Noncontrolling interests	45,222	37,959
Total equity	671,619	616,243
Total	1409033	1385824

1_Consolidated Balance Sheets

Consolidated Balance Sheets (Parenthetical)
	Mar. 31, 2010 JPY (¥)	Mar. 31, 2009 JPY (¥)
Common stock, authorized	1,874,700,000	1,874,700,000
Common stock, issued	1,285,919,180	1,285,919,180
Treasury stock, shares	14,072,545	13,856,291

Consolidated Statements of Inco

Consolidated Statements of Income (JPY ¥)
In Millions, except Per Share data	12 Months Ended Mar. 31, 2010	12 Months Ended Mar. 31, 2009	12 Months Ended Mar. 31, 2008
Revenues	930644	1107482	1154574
Cost of revenues	681,374	810,226	824,093
Selling, general, and administrative expenses	179,352	193,426	192,935
Other operating expenses	216	1,015	671
Operating income	69,702	102,815	136,875
Other income (expenses):
Interest and dividend income	3,381	4,822	4,472
Interest expense	(2,127)	(2,664)	(986)
Gain (loss) on sales of securities-net	1,821	(116)	704
Valuation loss on other investments	(143)	(8,618)	(6,715)
Foreign exchange gain (loss)-net	2,894	(11,525)	(9,043)
Other-net	(2,045)	(1,455)	(2,730)
Other income (expenses), net	3,781	(19,556)	(14,298)
Income from continuing operations before income taxes and equity in net income of affiliated companies	73,483	83,259	122,577
Income taxes:
Current	28,540	23,637	43,929
Deferred	(2,563)	5,109	4,115
Total income taxes	25,977	28,746	48,044
Equity in net income of affiliated companies	402	222	94
Income from continuing operations	47,908	54,735	74,627
Income from discontinued operations, net of taxes			189
Net income	47,908	54,735	74,816
Less: Net income attributable to the noncontrolling interests	5,582	6,671	6,790
Net income attributable to Kubota Corporation	42326	48064	68026
Basic and Diluted:
Continuing operations	33.28	37.68	52.65
Discontinued operations			0.15
Total	33.28	37.68	52.8

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (JPY ¥)
In Millions	12 Months Ended Mar. 31, 2010	12 Months Ended Mar. 31, 2009	12 Months Ended Mar. 31, 2008
Net income	47908	54735	74816
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	8,250	(61,832)	(563)
Unrealized gains (losses) on securities	11,761	(26,283)	(36,839)
Unrealized gains (losses) on derivatives	556	(1,512)	(126)
Pension liability adjustments	9,808	(13,945)	(16,405)
Total other comprehensive income (loss)	30,375	(103,572)	(53,933)
Comprehensive income (loss)	78,283	(48,837)	20,883
Less: Comprehensive income (loss) attributable to the noncontrolling interests	7,528	(3,540)	7,927
Comprehensive income (loss) attributable to Kubota Corporation	70755	-45297	12956

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (JPY ¥)
In Millions	Common Stock	Capital Surplus	Legal Reserve	Retained Earnings	Accumulated Other Comprehensive Income(Loss)	Treasury Stock at Cost	Non-Controlling Interests	Total
Beginning Balance at Mar. 31, 2007	84070	93150	19539	376815	86247	-184	36069	695706
Cumulative effect of adopting accounting for uncertainty in income taxes				261				261
Net income				68,026			6,790	74,816
Other comprehensive income (loss)					(55,070)		1,137	(53,933)
Cash dividends paid to Kubota Corporation shareholders, 14 Yen, 15 Yen, and 13 Yen in 2010, 2009 and 2008, per common share, respectively				(16,777)				(16,777)
Cash dividends paid to noncontriolling interests							(1,681)	(1,681)
Purchases and sales of treasury stock (less 216, 8,541 and 10,909 in 2010, 2009 and 2008, thousands of shares, respectively)						(7,980)		(7,980)
Retirement of treasury stock				(4,398)		4,398
Increase in noncontrolling interests related to contribution							1,482	1,482
Changes in ownership interests in subsidiaries							(567)	(567)
Ending Balance at Mar. 31, 2008	84,070	93,150	19,539	423,927	31,177	(3,766)	43,230	691,327
Net income				48,064			6,671	54,735
Other comprehensive income (loss)					(93,361)		(10,211)	(103,572)
Cash dividends paid to Kubota Corporation shareholders, 14 Yen, 15 Yen, and 13 Yen in 2010, 2009 and 2008, per common share, respectively				(19,193)				(19,193)
Cash dividends paid to noncontriolling interests							(767)	(767)
Purchases and sales of treasury stock (less 216, 8,541 and 10,909 in 2010, 2009 and 2008, thousands of shares, respectively)				(7)		(5,316)		(5,323)
Increase in noncontrolling interests related to contribution							14	14
Changes in ownership interests in subsidiaries							(978)	(978)
Ending Balance at Mar. 31, 2009	84,070	93,150	19,539	452,791	(62,184)	(9,082)	37,959	616,243
Net income				42,326			5,582	47,908
Other comprehensive income (loss)					28,429		1,946	30,375
Cash dividends paid to Kubota Corporation shareholders, 14 Yen, 15 Yen, and 13 Yen in 2010, 2009 and 2008, per common share, respectively				(17,814)				(17,814)
Cash dividends paid to noncontriolling interests							(489)	(489)
Purchases and sales of treasury stock (less 216, 8,541 and 10,909 in 2010, 2009 and 2008, thousands of shares, respectively)						(183)		(183)
Increase in noncontrolling interests related to contribution							2,109	2,109
Changes in ownership interests in subsidiaries		(3,909)			(736)		(1,885)	(6,530)
Ending Balance at Mar. 31, 2010	84070	89241	19539	477303	-34491	-9265	45222	671619

2_Consolidated Statements of Ch

Consolidated Statements of Changes in Equity (Parenthetical) (JPY ¥)
Share data in Thousands, except Per Share data	12 Months Ended Mar. 31, 2010	12 Months Ended Mar. 31, 2009	12 Months Ended Mar. 31, 2008	Mar. 31, 2007
Beginning Balance, shares	1,272,063	1,280,604	1,291,513
Cash dividends paid to Kubota Corporation shareholders, per common share	14	15	13
Purchases and sales of treasury stock, shares	(216)	(8,541)	(10,909)
Ending Balance, shares	1,271,847	1,272,063	1,280,604	1,291,513

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (JPY ¥)
In Millions	12 Months Ended Mar. 31, 2010	12 Months Ended Mar. 31, 2009	12 Months Ended Mar. 31, 2008
Operating activities:
Net income	47908	54735	74816
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	29,171	31,242	30,565
(Gain) loss on sales of securities-net	(1,821)	116	(704)
Valuation loss on other investments	143	8,618	6,715
(Gain) loss from disposal of fixed assets-net	118	(151)	925
Equity in net income of affiliated companies	(402)	(222)	(94)
Deferred income taxes	(2,563)	5,109	4,115
Change in assets and liabilities:
(Increase) decrease in notes and accounts receivable	20,380	(128,586)	31,750
(Increase) decrease in inventories	38,802	(35,636)	(6,656)
(Increase) decrease in interest in sold receivables		70,132	(6,763)
(Increase) decrease in other current assets	1,205	(21,322)	(13,309)
Decrease in trade notes and accounts payable	(22,780)	(19,771)	(23,311)
Increase (decrease) in income taxes payable	18,005	(7,008)	(10,842)
Increase (decrease) in other current liabilities	(9,896)	28,727	7,539
Increase (decrease) in accrued retirement and pension costs	467	(10,054)	(10,998)
Other	335	1,494	6,362
Net cash provided by (used in) operating activities	119,072	(22,577)	90,110
Investing activities:
Purchases of fixed assets	(26,621)	(32,959)	(35,735)
Purchases of investments and change in loan receivables	(389)	(5,908)	3,337
Proceeds from sales of property, plant, and equipment	1,182	2,961	115
Proceeds from sales and redemption of investments	9,101	261	490
Increase in finance receivables	(172,218)	(193,495)	(196,494)
Collection of finance receivables	150,368	154,935	155,202
Other	(4,822)	184	741
Net cash used in investing activities	(43,399)	(74,021)	(72,344)
Financing activities:
Proceeds from issuance of long-term debt	121,966	129,967	113,962
Repayments of long-term debt	(90,067)	(74,386)	(84,895)
Net increase (decrease) in short-term borrowings	(43,729)	54,619	(15,840)
Cash dividends	(17,814)	(19,193)	(16,777)
Purchases of treasury stock	(191)	(5,338)	(7,997)
Purchases of noncontrolling interests	(6,407)
Other	1,570	(809)	(133)
Net cash provided by (used in) financing activities	(34,672)	84,860	(11,680)
Effect of exchange rate changes on cash and cash equivalents	922	(7,541)	97
Net increase (decrease) in cash and cash equivalents	41,923	(19,279)	6,183
Cash and cash equivalents, beginning of year	69,505	88,784	82,601
Cash and cash equivalents, end of year	111428	69505	88784

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	12 Months Ended Mar. 31, 2010 JPY (¥)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Kubota Corporation (the parent company) and subsidiaries (collectively the Company) are one of Japans leading manufacturers of a comprehensive range of machinery and other industrial and consumer products, including farm equipment, engines, construction machinery, pipe-related products, environment-related products, and industrial castings. The manufacturing operations of the Company are conducted primarily at 20 plants in Japan and at 10 overseas plants located in the United States and certain other countries. Farm equipment, construction machinery, ductile iron pipe, and certain other products are sold both in Japan and in overseas markets which consist mainly of North America, Europe, and Asia. Basis of Financial Statements The consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). In September 2008, the Securities and Exchange Comission amended the foreign issuer reporting requirements to eliminate an option which permitted foreign private issuers to omit segment disclosures in accordance with U.S. GAAP. This amendment is effective for fiscal years ended on or after December15, 2009, and was adopted by the Company in the year ended March31, 2010 for all periods presented. Principles of Consolidation The consolidated financial statements include the accounts of the parent company and all majority-owned subsidiaries. The accounts of certain consolidated subsidiaries that have December31 fiscal year-ends have been included in the March31 consolidated financial statements. The accounts of variable interest entity (VIE) are included in the consolidated financial statements, as applicable. The Company is involved with a VIE which engages in farming by water culture. The VIE has been consolidated since the Company is the primary beneficiary. Total assets of the VIE at March31, 2010 were 219 million. There are no restrictions on the use of the VIEs assets. Also, the creditors or beneficial interest holders of the consolidated VIE have no recourse to the general credit of the Company. The Company is not a primary beneficiary of the unconsolidated VIEs and does not hold any significant variable interests in these VIEs. Intercompany items have been eliminated in consolidation. Investments in affiliates in which the Company has the ability to exercise significant influence over their operating and financial policies, but where the Company does not have a controlling financial interest are accounted for using the equity method. Use of Estimates Preparing financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect reported amounts and related disclosures. Significant estimates and assumptions are used primarily in the area of inventory valuation, impairment of investments, collectability of notes and receivables, impairment of long-lived assets, accruals for employee retirement and pension plans, valuation allowance for deferred tax assets, uncertain tax positions, revenue recognition for long-term

INVENTORIES

INVENTORIES
	12 Months Ended Mar. 31, 2010 JPY (¥)
INVENTORIES	2. INVENTORIES Inventories are comprised of the following: ( in millions) At March 31: 2010 2009 Finished products 111,280 132,125 Spare parts 23,544 23,848 Work in process 22,498 31,165 Raw materials and supplies 15,001 20,263 172,323 207,401

INVESTMENTS IN AND LOAN RECEIVA

INVESTMENTS IN AND LOAN RECEIVABLES FROM AFFILIATED COMPANIES
	12 Months Ended Mar. 31, 2010 JPY (¥)
INVESTMENTS IN AND LOAN RECEIVABLES FROM AFFILIATED COMPANIES	3. INVESTMENTS IN AND LOAN RECEIVABLES FROM AFFILIATED COMPANIES Investments in and loan receivables from affiliated companies in which the Company has the ability to exercise significant influence over their operating and financial policies are comprised of the following: ( in millions) At March 31: 2010 2009 Investments 15,667 14,443 Loan receivables 278 68 15,945 14,511 The following table presents a summary of financial information of affiliated companies: ( in millions) At March31: 2010 2009 Current assets 55,958 68,841 Noncurrent assets 62,414 62,858 Total assets 118,372 131,699 Current liabilities 61,495 74,758 Noncurrent liabilities 19,441 20,794 Net assets 37,436 36,147 ( in millions) For the years ended March 31: 2010 2009 2008 Revenues 210,492 216,430 215,574 Cost of revenues 155,350 160,690 162,533 Net income 873 419 482 Trade notes and accounts receivable from affiliated companies at March31, 2010 and 2009 were 24,827million and 21,302million, respectively. Revenues from affiliated companies aggregated 65,246million, 55,374million, and 48,847million for the years ended March31, 2010, 2009, and 2008, respectively. Cash dividends received from affiliated companies were 72million, 46million, and 31million for the years ended March31, 2010, 2009, and 2008, respectively. Retained earnings include net undistributed earnings of affiliated companies in the amount of 10,652million and 9,719million at March31, 2010 and 2009, respectively.

OTHER INVESTMENTS

OTHER INVESTMENTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
OTHER INVESTMENTS	4. OTHER INVESTMENTS The following table presents the cost, fair value, and gross unrealized holding gains and losses for securities by major security type: ( in millions) 2010 2009 At March31: Cost FairValue Gross Unrealized Holding Gains Gross Unrealized Holding Losses Cost FairValue Gross Unrealized Holding Gains Gross Unrealized Holding Losses Other investments: Available-for-sale: Equity securities of financial institutions 24,422 44,186 19,775 11 24,412 40,275 15,864 1 Other equity securities 16,080 54,985 38,946 41 17,665 40,653 23,304 316 40,502 99,171 58,721 52 42,077 80,928 39,168 317 The following table presents the gross unrealized losses on, and related fair value of, the Companys available-for-sale securities, aggregated by the length of time that individual investment securities have been in a continuous unrealized loss position: ( in millions) 2010 2009 Less than 12 months 12 months or longer Less than 12 months 12 months or longer At March31: FairValue Gross Unrealized Holding Losses FairValue Gross Unrealized Holding Losses FairValue Gross Unrealized Holding Losses FairValue Gross Unrealized Holding Losses Other investments: Available-for-sale: Equity securities of financial institutions 22 11 2 ?1 Other equity securities 700 41 1,958 316 722 52 1,960 317 For the years ended March31, 2010, 2009, and 2008, valuation losses on other investments were recognized to reflect the decline in fair value considered to be other-than-temporary totaling 143million, 8,618million, and 6,715million, respectively. The following table presents proceeds from sales of available-for-sale securities and the gross realized gains and losses on these sales: ( in millions) For the years ended March31: 2010 2009 2008 Proceeds from sales of available-for-sale securities 3,588 182 2,001 Gross realized gains 1,821 20 705 Gross realized losses (132 ) (1 ) Investments in non-traded and unaffiliated companies, for which there is no readily determinable fair value, were stated at cost of 10,135million and 15,269million at March31, 2010 and 2009, respectively. Investments in non-marketable equity securities for which there is no readily determinable fair value were accounted for using the cost method. Each investment in non-marketable equity securities is reviewed annually for impairment or upon the occurrence of an event on change

FINANCE RECEIVABLES

FINANCE RECEIVABLES
	12 Months Ended Mar. 31, 2010 JPY (¥)
FINANCE RECEIVABLES	5. FINANCE RECEIVABLES The Company provides retail finance and finance leases to customers mainly in order to facilitate sales of farm equipment and construction machinery. Finance receivablesnet are comprised of the following: ( in millions) At March31: 2010 2009 Retail 211,875 218,745 Finance leases 106,774 59,442 Total finance receivables 318,649 278,187 Less: Unearned income (15,630 ) (10,052 ) Allowance for credit losses (1,706 ) (1,586 ) Total finance receivablesnet 301,313 266,549 Less: current portion (104,840 ) (97,292 ) Long-term finance receivablesnet 196,473 169,257 The following table presents the annual maturities of retail finance receivables and future minimum lease payments on finance leases: ( in millions) Years ending March 31: Retail Finance Leases 2011 78,568 32,413 2012 61,158 28,336 2013 42,488 21,548 2014 23,698 13,407 2015 4,328 6,897 2016 and thereafter 1,635 4,173 Total 211,875 106,774 There are no unguaranteed residual values related to finance leases at March31, 2010. The Company includes finance income and expenses in revenues and cost of revenues in the consolidated statements of income. The following table presents the amounts of finance income and expenses included in revenues and cost of revenues: ( in millions) For the years ended March31: 2010 2009 2008 Finance income 21,364 23,242 27,539 Finance expenses 10,029 11,578 15,363

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
ALLOWANCE FOR DOUBTFUL ACCOUNTS	6. ALLOWANCE FOR DOUBTFUL ACCOUNTS The following table presents the changes in allowance for doubtful notes and accounts receivable: ( in millions) For the years ended March31: 2010 2009 2008 Balance at beginning of year 2,512 1,983 2,011 Provision for doubtful accounts 636 1,041 482 Write-offs (46 ) (32 ) (531 ) Other (281 ) (480 ) 21 Balance at end of year 2,821 2,512 1,983 The following table presents the changes in allowance for doubtful non-current receivables: ( in millions) For the years ended March31: 2010 2009 2008 Balance at beginning of year 859 981 2,811 Provision for doubtful accounts 59 50 140 Write-offs (74 ) (1 ) (137 ) Other (74 ) (171 ) (1,833 ) Balance at end of year 770 859 981 The following table presents the changes in allowance for finance receivables: ( in millions) For the years ended March31: 2010 2009 2008 Balance at beginning of year 1,586 1,380 1,072 Provision for doubtful accounts 855 914 542 Write-offs (327 ) (308 ) (133 ) Other (408 ) (400 ) (101 ) Balance at end of year 1,706 1,586 1,380

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT
	12 Months Ended Mar. 31, 2010 JPY (¥)
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	7. SHORT-TERM BORROWINGS AND LONG-TERM DEBT Short-term borrowings at March31, 2010 consisted of notes payable to banks of 88,333million. Short-term borrowings at March31, 2009 consisted of notes payable to banks of 125,600million and commercial paper of 6,500million. Stated annual interest rates on short-term borrowings ranged primarily from 0.50% to 4.78% and from 0.20% to 5.41% at March31, 2010 and 2009, respectively. The weighted average interest rates on such short-term borrowings at March31, 2010 and 2009 were 1.5% and 3.1%, respectively. Available committed lines of credit with certain banks at March31, 2010 and 2009 totaled 20,000million and 25,000million, respectively. The terms of committed lines of credit are 1 year. The Company had no outstanding borrowings as of March31, 2010 and 2009 related to committed lines of credit. Long-term debt is comprised of the following: ( in millions) At March31: Dueinyearsending March 31: 2010 2009 Unsecured bonds: Yen notes (fixed rate 1.20%) 2011 10,000 10,000 Yen notes (floating rate 0.83%) 2012 4,000 4,000 Yen notes (floating rate 0.92%) 2013 4,000 Yen notes (floating rate 0.91%) 2013 2,000 Yen notes (floating rate 0.65%) 2013 5,000 U.S.$ notes (floating rate 0.73%) 2013 4,600 Yen notes (fixed rate 1.54%) 2013 10,000 10,000 Yen notes (fixed rate 1.27%) 2013 10,000 10,000 Yen notes (fixed rate 1.53%) 2015 10,000 10,000 Loans, principally from banks and insurance companies, maturing on various dates through 2018: Collateralized 24,216 37,320 Unsecured 224,963 181,125 Capital lease obligations 5,986 6,521 Total 314,765 268,966 Less: current portion (71,432 ) (60,378 ) 243,333 208,588 Both fixed and floating rates were included in the interest rates of the long-term loans from banks and insurance companies. The weighted average rates at March31, 2010 and 2009 were 2.0% and 2.9%, respectively. The following table presents the annual maturities of long-term debt at March 31, 2010: ( in millions) Years ending March 31: 2011 71,432 2012 95,545 2013 92,329 2014 17,343 2015 25,258 2016 and thereafter 12,858 Total 314,765 Assets pledged as collateral are comprised of the following: ( in millions) At March 31: 2010 2009 Trade notes 2,061 Trade accounts 17,806 14,214 Short-term finance receivables 18,445 23,797 Other current assets *1 573 566 Long-term finance receivables 12,447 21,416 Property, plant, and equipment 6,233 8,782 Total 55,504 70,836 *1 Other current assets represent the restricted cash which are pledged as collateral in accordance with the terms o

RETIREMENT AND PENSION PLANS

RETIREMENT AND PENSION PLANS
	12 Months Ended Mar. 31, 2010 JPY (¥)
RETIREMENT AND PENSION PLANS	8. RETIREMENT AND PENSION PLANS The parent company and most subsidiaries mainly in Japan have defined benefit pension plans and/or severance indemnity plans covering substantially all of their employees. In the parent company and certain subsidiaries, employees who terminate their employment have the option to receive benefits in the form of a lump-sum payment or annuity payments from defined benefit pension plans. The benefits are mainly calculated based on accumulated points under the point-based benefits system. The points consist of service period points which are attributed to the length of service, job title points which are attributed to the job title of each employee, and performance points which are attributed to the annual performance evaluation of each employee. Certain subsidiaries have defined contribution pension plans covering most of their employees. Funded Status The following table presents the funded status and the amounts recognized in the consolidated balance sheets: ( in millions) At March31: 2010 2009 Funded status: Benefit obligations 168,974 167,277 Fair value of plan assets 129,156 111,006 Funded status-net (39,818 ) (56,271 ) Amounts recognized in the consolidated balance sheets: Accrued retirement and pension costs (40,177 ) (56,591 ) Prepaid expenses for benefit plans, included in other assets 359 320 Amounts recognized in the consolidated balance sheets-net (39,818 ) (56,271 ) The following table presents the amounts recognized in accumulated other comprehensive income, before tax: ( in millions) At March 31: 2010 2009 Actuarial loss 24,192 41,371 Prior service benefit (4,436 ) (5,244 ) Total recognized in accumulated other comprehensive income, before tax 19,756 36,127 The following table presents the projected benefit obligations and the fair value of plan assets for the pension plans with projected benefit obligations in excess of plan assets, and the accumulated benefit obligations and the fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets: ( in millions) At March31: 2010 2009 Plans with projected benefit obligations in excess of plan assets: Projected benefit obligations 166,643 165,625 Fair value of plan assets 126,466 109,034 Plans with accumulated benefit obligations in excess of plan assets: Accumulated benefit obligations 165,148 164,556 Fair value of plan assets 125,074 109,034 Benefit Obligations The following table presents the changes in benefit obligations, the balances of accumulated benefit obligations, and the weighted-average assumptions used in calculating benefit obligation: ( in millions) 2010 2009 Change in b

REVENUE RECOGNITION FOR LONG-TE

REVENUE RECOGNITION FOR LONG-TERM CONTRACTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
REVENUE RECOGNITION FOR LONG-TERM CONTRACTS	9. REVENUE RECOGNITION FOR LONG-TERM CONTRACTS Long-term contracts accepted by the Company consist mainly of construction works with the Japanese national government and local governments, such as construction of environmental control plants and facilities for water supply. These contracts are generally completed within two to three years. The contracts, which are fully executed before the commencement of construction projects, include the terms of the contract price, expected completion date and critical milestone dates, and acceptance inspections (e.g., performance tests and external appearance inspections). The contracts are legally enforceable and the parties are expected to perform their obligations under the contracts. The Company is able to develop reasonably dependable estimates of the total contract cost based on the construction order, that includes details on every single component unit, labor hour costs, and all overhead. Further, the Company believes that it is able to develop reasonably dependable estimates of the extent of progress towards completion of individual contracts and, therefore, the long-term contracts are accounted for using the percentage of completion method. Concerning the method of measuring the extent of progress toward completion, the Company uses the cost-to-cost method in measuring the extent of progress toward completion. In most cases, the Companys contracts with customers include the delivery and installation of component units. In the situation where an option or an addition which has separate content from an existing contract has occurred, it is treated as a separate contract. Otherwise, it is combined with the original contract. Additional contract revenue arising from any claims for customer-caused overruns or delays is recognized when the contract modification is approved by the customer. Any revisions in revenue, cost, and profit estimates or in measurements of the extent of progress toward completion are accounted for in the consolidated statements of income in the fiscal year in which those revisions are determined. A disclosure is made of the effect of such revisions in the financial statements, if significant. The following table details the notes receivable and accounts receivable related to the long-term contracts accounted for under the percentage of completion method, by maturities: ( in millions) 2010 2009 At March 31: Lessthan 1 year 1-2years Over 2years Lessthan 1 year 1-2years Over 2years Notes receivable 176 99 Accounts receivable 7,945 236 8,930 40 8,121 236 9,029 40 A large portion of such receivables have already been billed to customers. The total aggregated amounts which had not been billed or were not billable were not material at March31, 2010 and 2009. The total aggregated amounts subject to uncertainty were not material. With respect to the inventories related to the long-term contracts, the aggregated amounts of manufacturing or production cost

INCOME TAXES

INCOME TAXES
	12 Months Ended Mar. 31, 2010 JPY (¥)
INCOME TAXES	10. INCOME TAXES Income from continuing operations before income taxes and equity in net income of affiliated companies and income taxes are comprised of the following: ( in millions) For the years ended March31: 2010 2009 2008 Income from continuing operations before income taxes and equity in net income of affiliated companies: Domestic 42,208 35,739 65,172 Foreign 31,275 47,520 57,405 Total 73,483 83,259 122,577 Income taxes: Current Domestic 16,462 5,719 26,550 Foreign 12,078 17,918 17,379 28,540 23,637 43,929 Deferred Domestic (2,090 ) 7,073 3,537 Foreign (473 ) (1,964 ) 578 (2,563 ) 5,109 4,115 Total 25,977 28,746 48,044 A reconciliation of the differences between the Japanese statutory tax rate and the effective tax rate is as follows: For the years ended March31: 2010 2009 2008 Normal Japanese statutory tax rates applied to income from continuing operations before income taxes and equity in net income of affiliated companies 40.6 % 40.6 % 40.6 % Increase (decrease) in taxes resulting from: Increase (decrease) in valuation allowance (0.2 ) 0.4 0.1 Permanently nondeductible expenses *1 0.4 4.1 0.4 Nontaxable dividend income (0.4 ) (0.7 ) (0.4 ) Extra tax deduction on expenses for research and development (2.8 ) (0.5 ) (1.7 ) Reversal of taxes provided on unremitted earnings of foreign subsidiaries and affiliates *2 (8.3 ) Othernet (2.2 ) (1.1 ) 0.2 Effective income tax rates applied to income from continuing operations before income taxes and equity in net income of affiliated companies 35.4 % 34.5 % 39.2 % *1 Permanently nondeductible expenses for the year ended March31, 2009 consisted primarily of nondeductible surcharge expense of 2,958 million for the alleged violation of the Anti-Monopoly Law. *2 Reversal of taxes provided on unremitted earnings of foreign subsidiaries and affiliates for the year ended March31, 2009 amounting to 6,870 million was due to Japanese tax law revision related to the taxation of dividends from overseas subsidiaries and affiliates. Net deferred tax assets are included in the consolidated balance sheets as follows: ( in millions) At March31: 2010 2009 Other current assets 29,938 26,583 Other assets 4,199 16,683 Other current liabilities (4 ) (2 ) Other long-term liabilities (3,119 ) (254 ) Net deferred tax assets 31,014 43,010 The significant components of deferred tax asse

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY
	12 Months Ended Mar. 31, 2010 JPY (¥)
SHAREHOLDERS' EQUITY	11. SHAREHOLDERS EQUITY Dividends The Corporate Law of Japan (the Corporate Law) permits companies to pay dividends at any time during the fiscal year in addition to the year-end dividend upon resolution of the shareholders meeting. Semiannual interim dividends may also be paid once a year upon resolution of the Board of Directors if the articles of incorporation of the companies so stipulate. For companies that meet certain criteria such as (1)having the Board of Directors, (2)having independent auditors, (3)having the Board of Corporate Auditors, (4)the term of service of the directors is one year rather than two years of normal term, and (5)prescribing that the Board of Directors may declare dividends in its articles of incorporation, the Board of Directors may declare dividends (except for dividends in kind). The Company meets all the above criteria. The Corporate Law also provides certain limitations on the amounts available for dividends. Under the Corporate Law, the amount available for dividends is based on other retained earnings, less treasury stock, as recorded on the books of the parent company. At March31, 2010, other retained earnings, less treasury stock, recorded on the parent Companys books of account were 218,109 million. Purchase of Treasury Stock The Corporate Law also provides for companies to purchase treasury stock. Companies may purchase its treasury stock through market transactions by resolution of the Board of Directors if companies have prescribed so in its articles of incorporation. The Company meets this condition. The same limitations as dividends exist in the amount available for this purchase of treasury stock. Increases/Decreases and Transfer of Common Stock, Reserve, and Surplus The Corporate Law requires that an amount equal to 10% of dividends must be appropriated as additional paid-in capital or as a legal reserve depending on the equity account charged upon the payment of such dividends until the total of additional paid-in capital and legal reserve equals 25% of the common stock. Under the Corporate Law, the total amount of additional paid-in capital and legal reserve may be reversed without limitation of such threshold. The Corporate Law also provides that common stock, capital surplus, legal reserve, and other retained earnings can be transferred among the accounts under certain conditions upon resolution of the shareholders meeting. Accumulated Other Comprehensive Income (Loss) The following table presents the components of accumulated other comprehensive income (loss), net of taxes: ( in millions) At March31: 2010 2009 Foreign currency translation adjustments (42,215 ) (47,887 ) Unrealized gains on securities 21,050 9,322 Unrealized losses on derivatives (1,592 ) (2,162 ) Pension liability adjustments (11,734 ) (21,457 ) Total accumulated other comprehensive loss (34,491 ) (62,184 ) Effects of Changes in Ownership Interests in Subsidiaries The following table presents the effects of changes in Kubota Corporations ownership intere

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME (LOSS)
	12 Months Ended Mar. 31, 2010 JPY (¥)
OTHER COMPREHENSIVE INCOME (LOSS)	12. OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the components of other comprehensive income (loss), including reclassification adjustments and tax effects: ( in millions) 2010 2009 2008 For the years ended March31: Before-tax Amount Tax Benefit (Expense) Net-of-tax Amount Before-tax Amount Tax Benefit (Expense) Net-of-tax Amount Before-tax Amount Tax Benefit (Expense) Net-of-tax Amount Foreign currency translation adjustments: Foreign currency translation adjustments arising during period 8,248 2 8,250 (62,293 ) 461 (61,832 ) (1,794 ) 1,231 (563 ) Reclassification adjustment for losses (gains) realized in net income 8,248 2 8,250 (62,293 ) 461 (61,832 ) (1,794 ) 1,231 (563 ) Unrealized gains (losses) on securities: Unrealized gains (losses) on securities arising during period 21,476 (8,718 ) 12,758 (53,868 ) 21,870 (31,998 ) (68,025 ) 27,615 (40,410 ) Reclassification adjustment for losses (gains) realized in net income (1,678 ) 681 (997 ) 8,734 (3,019 ) 5,715 6,011 (2,440 ) 3,571 19,798 (8,037 ) 11,761 (45,134 ) 18,851 (26,283 ) (62,014 ) 25,175 (36,839 ) Unrealized gains (losses) on derivatives: Unrealized losses on derivatives arising during period (1,310 ) 472 (838 ) (2,378 ) 1,054 (1,324 ) (916 ) 322 (594 ) Reclassification adjustments for losses (gains) realized in net income 2,179 (785 ) 1,394 (316 ) 128 (188 ) 795 (327 ) 468 869 (313 ) 556 (2,694 ) 1,182 (1,512 ) (121 ) (5 ) (126 ) Pension liability adjustments: Pension liability adjustments arising during period 7,712 (3,133 ) 4,579 (22,897 ) 9,356 (13,541 ) (26,868 ) 10,943 (15,925 ) Reclassification adjustment for losses (gains) realized in net income 8,803 (3,574 ) 5,229 (680 ) 276 (404 ) (808 ) 328 (480 ) 16,515 (6,707 ) 9,808 (23,577 ) 9,632 (13,945 ) (27,676 ) 11,271 (16,405 )

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
DERIVATIVE FINANCIAL INSTRUMENTS	13. DERIVATIVE FINANCIAL INSTRUMENTS Risk Management Policy The Company is subject to market rate risks due to fluctuation of foreign currency exchange rates and interest rates. The Company manages these risks by using derivative financial instruments in accordance with established policies and procedures. The Company does not use derivative financial instruments for trading purposes. The credit risks associated with these instruments are not considered to be significant since the counterparties are financial institutions with high creditworthiness and the Company does not anticipate any such losses. Foreign Currency Exchange Risks The Companys foreign currency exposure relates primarily to its foreign currency denominated assets in its international operations. The Company entered into foreign exchange forward contracts and foreign currency option contracts (foreign exchange contracts) designated to mitigate its exposure to foreign currency exchange risks. Interest Rate Risks The Company is exposed to interest rate risks mainly inherent in its debt obligations with both fixed and variable rates. Debt obligations that are sensitive to interest rate changes are disclosed in Note 7. In order to hedge these risks, the Company uses interest rate swap contracts and cross-currency interest rate swap contracts to change the characteristics of its fixed and variable rate exposures. Cash Flow Hedges The accounting treatments of changes in the fair value of foreign exchange contracts and interest rate swap agreements depend on whether derivatives are designated as cash flow hedges. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges are reported in accumulated other comprehensive income. As for foreign exchange contracts related to forecasted intercompany transactions, the amounts are subsequently reclassified into earnings when unrelated third party transactions occur. In the case of interest rate swaps, the amounts are reclassified into earnings when the related interest expense is recognized. The unrecognized net loss (net of tax) of approximately 1,019million on derivatives included in accumulated other comprehensive income (loss) at March31, 2010 will be reclassified into earnings within the next 12 months. The ineffective portion of changes in the fair value of derivatives is immediately recorded in earnings. Derivatives Not Designated as Hedging Instruments The Company uses derivatives not designated as cash flow hedges in certain relationships, such as a part of foreign exchange contracts, interest rate swap contracts, and cross-currency interest rate swap contracts, for economic purposes. Changes in the fair value of derivatives not designated are reported in earnings immediately. Fair Values of Derivative Instruments ( in millions) Othercurrentassets Othercurrentliabilities Otherlong-termliabilities At March31: 2010 2009 2010 2009 2010 2009 Derivatives designated as hedging instruments: Foreign exchange contracts 14 139 Interest rate

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK
	12 Months Ended Mar. 31, 2010 JPY (¥)
FAIR VALUE OF FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK	14. FAIR VALUE OF FINANCIAL INSTRUMENTS AND CONCENTRATION OF CREDIT RISK Fair Value of Financial Instruments The following table summarizes the carrying value and fair value of financial instruments: ( in millions) 2010 2009 At March31: CarryingValue Fair Value CarryingValue Fair Value Financial assets: Finance receivablesnet 211,363 212,021 217,503 223,508 Long-term trade accounts receivable 47,610 50,409 50,004 52,616 Financial liabilities: Long-term debt (308,779 ) (309,258 ) (262,445 ) (261,891 ) The fair value of finance receivables, long-term trade accounts receivable, and long-term debt is based on discounted cash flows using the current market rate. The carrying value of finance receivablesnet at March31, 2010 and 2009 in the table excludes finance leases. Long-term trade accounts receivable in the table includes the current portion, which is included in trade accounts receivable on the consolidated balance sheet. The carrying value of cash and cash equivalents, notes and accounts receivable and payable (excluding the current portion of long-term trade accounts receivable), and short-term borrowings approximate the fair value because of the short maturity of those instruments. The carrying value and fair value of other investments and derivatives are disclosed in Note 15. Concentration of Credit Risks A large portion of trade accounts receivable and retail finance receivables are from dealers or customers in the farm equipment market in North America. Trade accounts receivable and retail finance receivables arise from the sales of the Companys products to a large number of dealers and to retail customers, respectively. The Company considers that credit risks on these receivables are limited since no single dealer or customer represents a significant concentration of credit risks.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
FAIR VALUE MEASUREMENTS	15. FAIR VALUE MEASUREMENTS The following table presents the Companys financial assets and financial liabilities that are measured at fair value on a recurring basis: ( in millions) At March31: Level 1 Level 2 Level3 Total 2010: Assets: Available-for-sale securities: Equity securities of financial institutions 44,186 44,186 Other equity securities 54,985 54,985 Derivatives: Foreign exchange contracts 16 16 Total assets 99,171 16 99,187 Liabilities: Derivatives: Foreign exchange contracts 474 474 Interest rate swap contracts 2,764 2,764 Cross-currency interest rate swap contracts 2,616 2,616 Total liabilities 5,854 5,854 2009: Assets: Available-for-sale securities: Equity securities of financial institutions 40,275 40,275 Other equity securities 40,653 40,653 Derivatives: Foreign exchange contracts 7 7 Total assets 80,928 7 80,935 Liabilities: Derivatives: Foreign exchange contracts 2,078 2,078 Interest rate swap contracts 3,935 3,935 Cross-currency interest rate swap contracts 209 209 Total liabilities 6,222 6,222 Available-for-sale securities are valued using a quoted price for identical instruments in active markets. Derivatives are valued using observable market inputs from major international financial institutions.

SUPPLEMENTAL EXPENSE INFORMATIO

SUPPLEMENTAL EXPENSE INFORMATION
	12 Months Ended Mar. 31, 2010 JPY (¥)
SUPPLEMENTAL EXPENSE INFORMATION	16. SUPPLEMENTAL EXPENSE INFORMATION The following table presents the amounts of research and development expenses, advertising costs, shipping and handling costs, and depreciation included in cost of revenues and selling, general, and administrative expenses: ( in millions) For the years ended March31: 2010 2009 2008 Research and development expenses 25,241 26,290 24,784 Advertising costs 7,658 9,721 9,550 Shipping and handling costs 36,497 49,172 51,068 Depreciation 28,903 30,467 30,119 Other operating expenses for the year ended March31, 2009 included a loss from impairment of fixed assets of 748million. Other operating expenses for the year ended March31, 2008 included a loss from disposal of fixed assets of 925million and a gain on disposal of business of 314million resulting from a partial sale of the shares of a company which conducts condominium business.

SECURITIZATION OF RECEIVABLES

SECURITIZATION OF RECEIVABLES
	12 Months Ended Mar. 31, 2010 JPY (¥)
SECURITIZATION OF RECEIVABLES	17. SECURITIZATION OF RECEIVABLES The Company sold trade receivables to investors through independent securitization trusts until the year ended March31, 2009. The Company has no sold receivables at March31, 2010 and 2009. The Company recognized pretax losses resulting from the sales of trade receivables of 679million and 3,008million for the years ended March31, 2009 and 2008, respectively. The Company recognized pretax gains resulting from the sales of finance receivables of 77 million for the year ended March31, 2008. The Company continued to service the receivables for a fee based on a percentage of the receivables transferred. The investors and the securitization trusts had no recourse to the Companys assets for failure of debtors to pay when due. The amount of servicing assets or liabilities was not material at March31, 2008. The following table summarizes certain cash flows received from securitization trusts: ( in millions) For the years ended March31: 2010 2009 2008 Proceeds from collections reinvested in revolving-period securitizations 55,561 160,468 Servicing fees received 230 413

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES
	12 Months Ended Mar. 31, 2010 JPY (¥)
COMMITMENTS AND CONTINGENCIES	18. COMMITMENTS AND CONTINGENCIES Commitments The Company leases certain office space and equipment and employee housing under cancelable and noncancelable lease agreements. Leased assets under capital leases are comprised of the following: ( in millions) At March 31: 2010 2009 Machinery and equipment 11,633 12,415 Accumulated depreciation (7,572 ) (6,961 ) Software 302 350 4,363 5,804 Amortization expenses under capital leases for the years ended March31, 2010, 2009, and 2008 were 4,550million, 4,840million, and 3,861million, respectively. The following table presents the annual maturities of future minimum lease commitments under capital and non-cancelable operating leases at March31, 2010: ( in millions) Years ending March 31: CapitalLeases OperatingLeases 2011 3,201 1,088 2012 1,983 775 2013 753 647 2014 97 554 2015 55 263 2016 and thereafter 23 181 Total minimum lease payments 6,112 3,508 Less: amounts representing interest (126 ) Present value of net minimum capital lease payments 5,986 Capital lease obligations are included in the current portion of long-term debt and long-term debt in the consolidated balance sheets. Rental expenses under operating leases for the years ended March31, 2010, 2009, and 2008 were 4,942million, 5,281million, and 5,619million, respectively. Commitments for capital expenditures outstanding at March31, 2010 amounted to 1,616million. Guarantees The Company is contingently liable as guarantor of the indebtedness of distributors including affiliated companies, and customers for their borrowings from financial institutions. The Company would have to perform under these guarantees in the event of default on a payment within the guarantee periods of 1 year to 10 years. The maximum potential amount of undiscounted future payments of these financial guarantees at March31, 2010 was 5,991million. The fair value of these financial guarantees is not material and the probability of incurrence of a loss is remote. The Company issues contractual product warranties under which it generally guarantees the performance of products delivered and services rendered for a specified period or term. The Company determines its reserve for product warranties based on an analysis of the historical data of costs to perform under product warranties. The following table presents the reconciliation of the beginning and ending balances of accrued product warranty cost: ( in millions) For the years ended March31: 2010 2009 Balance at beginning of year 6,031 6,457 Addition 4,284 4,503 Utilization (3,739 ) (3,984 ) Other 131 (945 ) Balance at end of year 6,707 6,031 Accrued product warranty cost is included in other current liabilities in

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION
	12 Months Ended Mar. 31, 2010 JPY (¥)
SUPPLEMENTAL CASH FLOW INFORMATION	19. SUPPLEMENTAL CASH FLOW INFORMATION Supplemental information related to the consolidated statements of cash flows is as follows: ( in millions) For the years ended March31: 2010 2009 2008 Cash paid during the year: Interest 9,614 12,768 12,875 Income taxes 15,336 38,472 56,535 Non-cash investing and financing activities: Retirement of treasury stock 4,398 Obtaining assets by entering into capital leases capital lease 2,740 2,916 3,678 During the year ended March31, 2010, the Company purchased noncontrolling interests reported in the Farm Industrial Machinery segment. The Company retains the controlling interests before and after the transaction, the cash flow of which is classified in financing activities as Purchases of noncontrolling interests.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS
	12 Months Ended Mar. 31, 2010 JPY (¥)
DISCONTINUED OPERATIONS	20. DISCONTINUED OPERATIONS During the year ended March31, 2007, Kubota Retex Corp., a subsidiary reported in the Social Infrastructure Segment, decided to liquidate and withdraw from the industrial waste treatment market. During the year ended March31, 2008, the Company completed liquidation. The following table presents the operating results of the discontinued operation for the year ended March31, 2008: ( in millions) Revenues Income from discontinued operations before income taxes 316 Income taxes (127 ) Income from discontinued operations 189

SEGMENT INFORMATION

SEGMENT INFORMATION
	12 Months Ended Mar. 31, 2010 JPY (¥)
SEGMENT INFORMATION	21. SEGMENT INFORMATION The Companys major operations comprise: Farm Industrial Machinery; Water Environment Systems; Social Infrastructure; and Other. The Farm Industrial Machinery segment manufactures and distributes farm equipment, engines, and construction machinery. The Water Environment Systems segment manufactures and distributes pipe-related products and environment-related products. The Social Infrastructure segment manufactures and distributes industrial castings, spiral welded steel pipes, vending machines, electronic equipped machinery, and air-conditioning equipment. The Other segment includes construction and other services. The segments represent the components of the Company for which separate financial information is available that is utilized on a regular basis by the chief executive officer in determining how to allocate the Companys resources and evaluate performance. The segments also represent the Companys organizational structure principally based on the nature of products and services. The accounting policies for the reporting segments are consistent with the accounting policies used in the Companys consolidated financial statements. Reporting Segments Information by reporting segment is summarized as follows: ( in millions) For the years ended March31: Farm Industrial Machinery Water Environment Systems Social Infrastructure Other Adjustments Consolidated 2010: Revenues: External customers 616,726 222,949 63,293 27,676 930,644 Intersegment 77 611 2,710 14,091 (17,489 ) Total 616,803 223,560 66,003 41,767 (17,489 ) 930,644 Operating income 60,485 19,723 2,699 2,629 (15,834 ) 69,702 Identifiable assets at March31, 2010 930,480 186,768 65,519 42,246 184,020 1,409,033 Depreciation 18,489 6,033 1,933 552 1,896 28,903 Capital expenditures 14,820 5,969 1,992 741 2,516 26,038 2009: Revenues: External customers 754,416 234,275 86,480 32,311 1,107,482 Intersegment 52 1,748 2,872 14,085 (18,757 ) Total 754,468 236,023 89,352 46,396 (18,757 ) 1,107,482 Operating income 103,831 3,121 8,004 1,812 (13,953 ) 102,815 Identifiable assets at March31, 2009 899,104 206,793 73,947 45,225 160,755 1,385,824 Depreciation 20,040 6,062 1,953 485 1,927 30,467 Capital expenditures 24,072 5,285 1,988 618 1,374 33,337 2008:

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS
	12 Months Ended Mar. 31, 2010 JPY (¥)
SUBSEQUENT EVENTS	22. SUBSEQUENT EVENTS On May11, 2010, the Companys Board of Directors resolved to pay a cash dividend to shareholders of record on March31, 2010 of 5per common share (25 per 5 common shares) or a total of 6,361million.