Key Facts
• Yanmar Holdings began exporting combines from China to Brazil in 2025.
• Chinese subsidiary produces agricultural machinery for domestic use and exports to Asia, India, and Africa.
• Current overseas sales ratio is 30–40%, with a target of 60% by 2029.
• Brazil, with 9% tractor market share, offers growth potential for combines.
• 2024 sales of ride-on rice transplanters grew 15–20% year-on-year due to subsidies.
• Automated rice transplanters launched in 2020 are performing well in China.
• Chinese manufacturers dominate low-cost tractors; Yanmar exited this market in 2022.
• Risks include subsidy policy changes and competition from local Chinese manufacturers.
• Yanmar plans to expand exports to Africa and strengthen its global production role.
• Tractor exports from Turkey and India are also being enhanced.
Summary
Yanmar Holdings is leveraging exports to expand its agricultural machinery business globally. The company recently began exporting combines from China to Brazil, targeting a 60% overseas sales ratio by 2029, up from the current 30–40%. Brazil, a major agricultural market, offers significant growth potential, with Yanmar already holding a 9% tractor market share. In China, automated machinery like rice transplanters launched in 2020 is gaining popularity, driven by labor shortages and government subsidies. However, local Chinese manufacturers dominate low-cost segments, prompting Yanmar to focus on high-value products and exports. The company also plans to explore African markets and strengthen its global production network, with additional export efforts from Turkey and India. These strategies aim to mitigate risks from fluctuating subsidy policies and intensifying competition in China.
