News Release

A joint venture established by YANMAR and Mitsui & Co. in Myanmar is about to commence business operations

February 21, 2017
YANMAR CO., LTD.

We are pleased to announce that YANMAR CO., LTD. (Head Office: Osaka, President: Takehito Yamaoka, “YANMAR”) have recently established a sales company in the Republic of the Union of Myanmar in collaboration with Mitsui & Co., Ltd. (Head Office: Tokyo, President: Tatsuo Yasunaga, “Mitsui & Co.”), and launched full-scale business in the country.

Myanmar boasts the world’s 7th highest rice production, and the country is expected to promote further mechanization of agriculture in the future, with the aim of increasing yields in its agricultural produce. In addition to possessing a strong market that has enjoyed steady economic growth of 8.25% per year (2013-14 basis, IMF estimate), on average, the country has become an important market from the perspective of the global supply-demand balance in food.

In Myanmar, which has seen a steady increase in the demand for agricultural mechanization, as well as ongoing strong economic development, YANMAR and Mitsui & Co. have established a wholly foreign-owned joint venture, YANMAR MYANMAR CO., LTD., which offers comprehensive marketing, sales, and service functions in the field of agriculture. YANMAR MYANMAR will operate in the Thilawa Special Economic Zone, which was established through initiatives by the Japanese and Myanmar governments, where it will provide solutions for issues affecting the local agricultural sector.

YANMAR has been active in the agricultural sector since its founding, while Mitsui & Co. is globally developing business based on food value chains. The two companies will collaboratively contribute to the modernization of local agriculture by helping to achieve goals, such as the introduction of labor-saving methods and the improvement of efficiency and added value, through the provision of high-quality services.

The new company has fully equipped service facilities, a large-scale parts center, education and training facilities for farmers and service workers, and a display room with enhanced hospitality features. It will be Myanmar’s first multifunctional agriculture solutions center.

YANMAR and Mitsui & Co. will contribute to the solution of local problems and the improvement of living standards by offering a wide range of agricultural machinery and solutions tailored to local needs, while actively providing high-quality services.

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