# EDGAR Filing Document

**Accession Number:** 0001621949
**File Stem:** 0000929638-23-000837
**Filing Date:** 2023-3
**Character Count:** 14565
**Document Hash:** 3209251fd20cd0ae01adba62caf16e5c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-23-000837.hdr.sgml**: 20230314

**ACCESSION NUMBER**: 0000929638-23-000837

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230314

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20230314

**DATE AS OF CHANGE**: 20230314

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Equipment loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kubota Credit Receivables LLC
- **CENTRAL INDEX KEY:** 0001621949
- **IRS NUMBER:** 464924304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-01685
- **FILM NUMBER:** 23731581

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051
- **BUSINESS PHONE:** 817-532-3044

**MAIL ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kubota Credit Receivables LLC
- **CENTRAL INDEX KEY:** 0001621949
- **IRS NUMBER:** 464924304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051
- **BUSINESS PHONE:** 817-532-3044

**MAIL ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kubota Credit Receivables LLC
- **CENTRAL INDEX KEY:** 0001621949
- **IRS NUMBER:** 464924304
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-01685

**BUSINESS ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051
- **BUSINESS PHONE:** 817-532-3044

**MAIL ADDRESS:**
- **STREET 1:** 1000 KUBOTA DRIVE
- **CITY:** GRAPEVINE
- **STATE:** TX
- **ZIP:** 76051

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### FORM ABS-15G

#### ASSET-BACKED SECURITIZER

#### REPORT PURSUANT TO SECTION 15G OF

#### THE SECURITIES EXCHANGE ACT OF 1934
Kubota Credit Receivables LLC

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

☐ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period

__________ to __________

Date of Report (Date of earliest event reported): __________

Commission File Number of securitizer: __________

Central Index Key Number of securitizer: __________

____________________________________________________________________________________________________________________________________________________________________________________

Name and telephone number, including area code, of the person to

contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

&nbsp;&nbsp;&nbsp;&nbsp;☒ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0001621949

Kubota Credit Owner Trust 2023-1

____________________________________________________________________________________________________________________________________________________________________________________

(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): N/A

Central Index Key Number of underwriter (if applicable): N/A

Yasuhiko Shitaya, (817) 756-5698

____________________________________________________________________________________________________________________________________________________________________________________

Name and telephone number, including area code, of the person to

contact in connection with this filing.

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#### PART II – FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

#### Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibits to this Form ABS-15G. Please see the Exhibit Index for the related information.

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#### EXHIBIT INDEX

99.1 Independent Accountants' Report on Applying Agreed-Upon Procedures, dated March 13, 2023

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 14, 2023

---

| | | |
|:---|:---|:---|
| KUBOTA CREDIT RECEIVABLES LLC | KUBOTA CREDIT RECEIVABLES LLC | KUBOTA CREDIT RECEIVABLES LLC |
| (Depositor) | (Depositor) | (Depositor) |
| By:  | <u>/s/ Yasuhiko Shitaya&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | <u>/s/ Yasuhiko Shitaya&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
|  | Name:  | Yasuhiko Shitaya |
|  | Title: | Secretary and Treasurer |

---

## Exhibit 99.1

**Exhibit 99.1**<br>

![](kpmg_logo.jpg)

KPMG LLP Suite 900<br> 8350 Broad Street McLean, VA 22102<br>

#### Independent Accountants' Agreed-Upon Procedures Report
Kubota Credit Corporation, U.S.A. (the "Company")<br> Mizuho Securities USA LLC<br> J.P. Morgan Securities LLC<br> SMBC Nikko Securities America, Inc.<br> (together, the "Specified Parties")

Re: Kubota Credit Owner Trust 2023-1 – Data File Procedures

&nbsp;&nbsp;&nbsp;&nbsp;<br>

We have performed the procedures described below on the specified attributes in an electronic data file entitled "Proposed KCOT 2023-1 Collateral.xlsx", (the "Data File") provided by the Company, on February 8, 2023, containing information on 25,680 retail installment contracts (the "Contracts") as of January 31, 2023, which we were informed are intended to be included as collateral in the offering by Kubota Credit Owner Trust 2023-1. The Company is responsible for the specified attributes identified by the Company in the Data File.

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

&nbsp;&nbsp;&nbsp;&nbsp;• The term "compared" means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were
 within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "recomputed" means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be
 in agreement if differences were within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "reporting threshold" means that dollar amounts, decimals, and percentages were within $1.00, 0.1, and 0.1%, respectively.

• The term "Contract Documents" means copies of retail installment contracts, credit reports, UCC-1 filings, an equipment mapping file "Equipment Type and Series.xlsx", and internal system screenshots provided by the Company. We make no representation regarding the validity or accuracy of these documents or the execution of the Contract Documents by the borrowers.

• The term "Instructions" means the instructions provided by the Company pertaining to a procedure, an attribute, or methodology as described in the "Instructions" column of Exhibit A.

• The term "Provided Information" means the Contract Documents and Instructions.

KPMG LLP, a Delaware limited liability partnership and a member firm of<br> the KPMG global organization of independent member firms affiliated with<br> KPMG International Limited, a private English company limited by guarantee.<br>

------

![](kpmg_logo.jpg)

The procedures we were instructed by the Company to perform and the associated findings are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;A. We randomly selected a sample of 125 Contracts from the Data File (the "Selected Contracts"). For purposes of this procedure, the Company did not inform us of the basis they used to determine
 the number of Selected Contracts we were instructed to randomly select from the Data File.

&nbsp;&nbsp;&nbsp;&nbsp;B. For each Selected Contract, we compared or recomputed the specified attributes listed in Exhibit A to the corresponding information included in the Contract Documents listed in the "Contract
 Document(s)" column of Exhibit A, utilizing the Instructions, as applicable. The Specified Parties indicated that the absence of any of the information in the Contract Documents or the inability to agree the indicated information from the
 Data File to the Contract Documents for each of the attributes identified, utilizing the Instructions as applicable, constituted an exception. The Contract Documents are listed in the order of priority until such attribute was agreed.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Contracts, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Contracts to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Contracts being securitized, (iii) the compliance of the originator of the Contracts with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Contracts that would be material to the likelihood that the issuer of the asset-backed securities will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

/s/ KPMG LLP

McLean, Virginia<br> March 13, 2023

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#### THE FOLLOWING PAGES CONSTITUTE EXHIBIT A

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| | | |
|:---|:---|:---|
| **Attribute Name in the Data File** | **Contract Document(s)** | **Instructions** |
| LOAN NUMBER | Retail installment contract | N/A |
| ORIGINATION DATE | Retail installment contract | N/A |
| LOAN APR | Retail installment contract | N/A |
| PAYMENT FREQUENCY | Retail installment contract | N/A |
| ORIGINAL LOAN AMOUNT | Retail installment contract, internal system screenshots | N/A |
| PAYMENT AMOUNT | Retail installment contract | N/A |
| FIRST PAYMENT DATE | Retail installment contract | N/A |
| NEW_USED_IND | Retail installment contract | N/A |
| SEGMENT | Retail installment contract, equipment mapping file | N/A |
| FICO | Credit report, internal system screenshots | N/A |
| CUSTOMER NAME | Retail installment contract, UCC-1 filing | N/A |
| CUST STATE | Retail installment contract, internal system screenshots | N/A |
| ORIG TERM | N/A | Recompute as the number of months between<br> (i) FIRST PAYMENT DATE (MMDDYY), and<br> (ii) MATURITY DATE (MMDDYY) |

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