September 23, 2020
Kubota Corporation

Kubota Corporation (Head Office: Naniwa-ku, Osaka, Japan; President and Representative Director: Yuichi Kitao; hereinafter, “Kubota”) initiated mass production of tractors through a joint venture established with Escorts Limited (Head Office: India; Chairman and Managing Director: Nhikil Nanda; hereinafter, “EL”). Kubota will accelerate business development by launching products built to local specifications in the Indian tractor market, which is one of the largest in the world.

1. Background and aims
   • The Indian tractor market is one of the largest in the world in terms of number of units, and is projected to keep expanding, going forward.
   • Kubota established Escorts Kubota India Private Limited (hereinafter, “EKI”) in February 2019 as a joint venture for manufacturing tractors in association with EL. In July this year, Kubota invested approx. 16 billion yen in EL as part of its ongoing focus on expanding its presence in the Indian market.
   • EKI’s plant, where mass production has just commenced, will produce multi-purpose tractors that can be used for towing, transportation, and various other applications in addition to agricultural work. EL has local manufacturing know-how and strong capabilities in components procurement. Through this collaboration, Kubota will accelerate business development in the Indian market.

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2. Outline of EKI

   Company name	Escorts Kubota India Private Limited
   Capitalization	3.0 billion rupees (4.2 billion yen)*
   Shareholding rates	Kubota 60%, EL 40%
   Location	Faridabad City, Haryana State, India
   Time of establishment	March 2019
   Business	Manufacture of Kubota tractors and EL tractors
   Production capacity	50,000 units(yearly)