Kubota aims for $2.6bn overseas deal in farm equipment

TOKYO: Japanese tractor maker Kubota Corp said it is in talks to acquire an overseas manufacturer of farm equipment in a deal that would be worth more than 200 billion yen ($2.6 billion), its president Yasuo Masumoto said on Tuesday.

Masumoto said in an interview that he hoped a decision on the deal would be reached by autumn and added that this was one of several possible acquisition targets the company was looking at.

Kubota aims to lift its ratio of overseas sales to 70-80 percent over the next five years from 48.8 percent in the year to March 2011.