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KUBOTA CORPORATION

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Kubota : Acquisition of Shares of North American Corporation Specializing in Automatic Operation Control

11/24/2021 | 09:10pm EST
Acquisition of Shares of North American Corporation Specializing in Automatic Operation Control

November 25, 2021
Kubota Corporation

Kubota Corporation (Head Office: Naniwa-ku, Osaka, Japan; President and Representative Director: Yuichi Kitao; hereinafter "Kubota") will acquire, through Kubota Canada Ltd. (Head Office: Markham, Ontario, Canada; President: Robert Hickey; hereinafter "KCL"), all shares of AgJunction Inc. (Registered Office: Calgary, Alberta, Canada; President and CEO: M. Brett McMickell, Ph.D.; hereinafter "AgJunction"), making AgJunction a company of the Kubota Group.

1. Background and Objectives
  • Kubota has formulated its long-term vision "GMB2030" and has been carrying forward initiatives to realize smart agriculture with the aim of providing solutions that will improve productivity and safety of food. Agricultural machine automation is one of the key pillars of these initiatives.
  • AgJunction is a solution provider specializing in the development and sale of hardware and software necessary for automated machine control applications, primarily for agricultural and construction machines in North America. AgJunction has numerous patents related to automatic operation control systems and has particular strengths in technologies for automated machine control and path planning.
  • By making AgJunction a company of the Kubota Group, Kubota aims to strengthen its development structure for technologies related to automation and autonomy, connectivity, and data. Through the acquisition, Kubota will combine AgJunction's technologies with Kubota's products to speed up the development of automated technologies aimed at North American markets.
2. About AgJunction Inc.
Corporate name AgJunction Inc.
Business Development, manufacture, and sale of equipment and software related to automatic operation control systems for agricultural and construction machines
Established 1990
Registered office Calgary, Alberta, Canada
Representative M. Brett McMickell, Ph.D.
Number of employees Approx. 60
Reference; About Kubota Canada Ltd.
Corporate name Kubota Canada Ltd.
Business Sale of tractors, construction machines, engines, and general-purpose machines
Established 1975
Location Markham, Ontario, Canada
President Robert Hickey
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Disclaimer

Kubota Corporation published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 02:09:04 UTC.


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Sales 2021 2 190 B 19 156 M 19 156 M
Net income 2021 195 B 1 708 M 1 708 M
Net Debt 2021 497 B 4 347 M 4 347 M
P/E ratio 2021 15,2x
Yield 2021 1,82%
Capitalization 2 906 B 25 411 M 25 419 M
EV / Sales 2021 1,55x
EV / Sales 2022 1,46x
Nbr of Employees 41 605
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 2 438,50 JPY
Average target price 2 804,17 JPY
Spread / Average Target 15,0%
EPS Revisions
Managers and Directors
Yuichi Kitao President & Representative Director
Makoto Egawa Manager-Corporate Planning
Masatoshi Kimata Chairman
Masato Yoshikawa Representative Director & Executive Vice President
Muneji Okamoto Senior GM-Machine Technology
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