OSAKA — Japanese agricultural machinery manufacturer Yanmar Co said Thursday it has entered the Vietnamese market, opening an office that day in Ho Chi Minh City by its joint venture company to beef up marketing, sales and service.
Yanmar expects the company, Yanmar Agricultural Machinery Vietnam Co, to achieve sales of farming machinery and from service including repairs of around 1 billion yen (274 million baht) in the business year through March 2016, and to triple annual sales to 3 billion yen by March 2019.
Yanmar plans to sell in Vietnam combines made at its factory in China and tractors it makes in Thailand.
With an eye towards tapping demand in Asia where agricultural mechanisation is progressing, Yanmar established an agricultural research institute in March 2013 in Vietnam to conduct local market research.