YANMAR AGRICULTURAL MACHINERY (THAILAND) CO., LTD .
In 2004, YANMAR Co., Ltd., a diesel engine manufacturer, established YANMAR AGRICULTURAL MACHINERY (THAILAND) Co., LTd., an agricultural machinery sales company in Thailand. Since the company started selling tractors, it has been vigorously developing business by increasing sales outlets and introducing new products. Furthermore, YANMAR CAPITAL (THAILAND) CO., LTD. (YCT) was established in 2009 to strengthen the groundwork of business operations. The company has thereby buttressed its manufacturing and sales in the ever-expanding tractor market in Thailand. In the context of these developments, JBIC signed a long-term loan agreement with YCT for funding the financing business for selling agricultural machinery. This loan was cofinanced with private sector financial institutions.
Since Thailand has about six times the amount of rice paddy fields that Japan does, there has been increasing needs for agricultural machinery. This is also attributable to economic growth, income growth among agricultural households and a decreasing agricultural population. As a result, the agricultural machinery market has been rapidly growing.
This loan is expected to help expand Japanese business in Thailand, a country whose economy is on a sustained growth path over the medium and long term.