Tokyo, September 12, 2017 - Fuji Electric Co., Ltd. (TSE:6504) (“FE”), headquartered in Tokyo, Japan, led by President Michihiro Kitazawa, is pleased to announce that it has signed a contract with Kubota Corporation (Kubota) to purchase all shares of P.T. METEC SEMARANG (PTMS) held by Kubota and Kubota Vending Services Co., Ltd. (KVS) and to take on after-sales service operations related to vending machines both within Japan and overseas.
Fuji Electric is in the process of having its subsidiaries in Thailand and Singapore roll out sales and marketing activities for the purpose of expanding its vending machine business in the Southeast Asian market. The company began assembling and producing beverage and food vending machines at its Thai production subsidiary in July 2014, going on to establish a vending machine operation company in Thailand in June of 2016 in order to further develop the vending machine market.
Now, with Kubota withdrawing from the vending machine business, Fuji Electric intends to expand its activities in this sector by reinforcing its foundations in Southeast Asia through the acquisition of PTMS.
a. Concentrate production centers in Southeast Asia
The production of vending machines bound for Southeast Asia, currently carried out at the Mie Plant and at Fuji Electric subsidiaries located in Thailand, will be concentrated at PTMS in order to build a more efficient production system.
b. Strengthen sales capacity in the Southeast Asian market
With this acquisition, Fuji Electric will expand its sales channels to areas where PTMS has been active; namely Indonesia and Malaysia. The new company will also make use of Fuji Electric’s expertise in vending machine operations—including installation, sales, and after-sales service—with the aim of increasing sales in the Southeast Asian market.
3．Acquired company facts