Mahindra & Mahindra (M&M)'s Japanese subsidiary, Mitsubishi Mahindra Agricultural Machinery Company, and Japan's Kubota Co. announced collaboration for Japanese domestic operations.
Mitsubishi Mahindra Agricultural Machinery Co. (MAM) and Kubota will respond to diversifying customer needs and contribute to the sustainable development of Japanese agriculture by expanding mutual OEM supply and utilizing products compatible with Kubota's IoT platform "KSAS", which is the basis of smart agriculture.
Rajesh Jejurikar, executive director of Mahindra & Mahindra and chairman, Mitsubishi Mahindra Agricultural Machinery Co., said: "We are very pleased with the announcement of the business collaboration for the Japanese market which will include a broad range of collaborative efforts including but not limited to expanding the mutual OEM supply arrangements, joint utilization of IoT and other sophisticated technology solutions, and exploring opportunities for collaborating in product development for Japan."
M&M business is diversified across farm equipment, auto and automotive components, real estate, hospitality, information technology, defence and aerospace and financial services.
M&M reported 40% jump in net profit to Rs 530.86 crore on a 16% rise in revenues to Rs 14,056.54 crore in Q3 FY21 over Q3 FY20.
The M&M scrip rose 0.13% to currently trade at Rs 796 on the BSE. It traded in the range of 790.90 and 805.30 so far during the day.
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