NEW YORK (AP) — Private equity firm Carlyle Group has agreed to buy Japanese ball bearings maker Tsubaki Nakashima Co.

The companies did not reveal the purchase price, but The Wall Street Journal said the acquisition is worth 66 billion yen ($804 million) including debt.

Carlyle said it's looking to take advantage of Tsubaki's growing manufacturing presence in emerging markets, whose economies are recovering faster than other countries. The company is expanding its development and production in many parts of the world, including Japan, China, India, Eastern Europe, Taiwan and the U.S.

The company's products are in high demand in the improving auto and machinery industries. It makes steel balls, ball screws and ball ways, used in tools and machinery equipment, as well as industrial fans.

The deal is expected to close by the end of the month. Tsubaki, which is based in Nara, Japan, is currently owned by Nomura Principal Finance Co.