Kubota's Thai unit aims for 100 bil. baht sales by 2024
BANGKOK, NNA - Major Japanese farm machinery maker Kubota Corp.'s Thai unit is setting an ambitious target of 100 billion baht ($3.26 billion) in annual sales by 2024 by stepping up both domestic and regional sales.
Siam Kubota Corp. unveiled the target on Tuesday after reporting that its sales in the first half of this year reached 27 billion baht, up 9 percent over the same period last year. It aims to boost annual sales by 12 percent to 60 billion baht this year.
Of the half-year sales this year, Thailand accounted for 17 billion baht and Cambodia, Laos, Myanmar and other countries the rest, the company said. Siam Kubota expects annual sales to reach 45 billion baht in Thailand, where it holds a market share of 70-80 percent.
Siam Kubota President Hiroto Kimura noted that the agricultural machinery markets in Cambodia, Laos, Myanmar and Vietnam have been brisk this year, as compared to last year.
Siam Kubota aims to raise the share of foreign sales from the current 40 percent to 50 percent by 2024.
To meet growing demand in Southeast Asia, Siam Kubota said it plans to invest up to 200 million baht per year to boost and improve production capabilities through 2024.
Its annual tractor and combine harvester production capacity stands at 76,000 units and 20,000 units, respectively. (NNA/Kyodo)