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Business deals

Japan's Kubota to buy Indian farm equipment maker Escorts

Deal aimed at raising Japanese company's share in world's largest tractor market

Kubota's purchase of Indian farm equipment maker Escorts aims to raise its share in the world's biggest tractor market. (Source photos by Atsushi Ooka and screenshot from Escorts' website) 

OSAKA -- Top Japanese farm equipment maker Kubota announced Thursday that it will purchase major Indian farm equipment maker Escorts for around 140 billion yen ($1.2 billion), turning the company into a subsidiary.

The move comes as Kubota is aiming to expand its business in India, the world's largest farm equipment market on a unit basis.

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