Jiji Press OSAKA (Jiji Press) — Kubota Corp. said Tuesday it will withdraw from its vending machine business at the end of this year.
The Japanese machinery maker will sell its wholly owned vending machine-making unit in Indonesia and after-sales service operations to industry leader Fuji Electric Co. for an undisclosed amount.
Kubota’s domestic vending machine business is shrinking due mainly to a decline in demand. The company, which operates vending machine businesses also in China and Southeast Asia, is finding it difficult to shore up the operations.
Some 700 Kubota group workers involved in the vending machine business will be transferred to Fuji Electric or relocated to other divisions of the Kubota group.
With a share of some 10 percent, Kubota ranks fourth in the Japanese vending machine market.