What ISEKI Group aims for

Corporate Philosophy — Purpose —ISEKI Group strives to contribute to
the creation of the prosperous andsustainable society through“providing innovative products andhigher quality of services to the customers”
Important Values ─ Value ─Long-term Vision — Vision —SpiritInheriting our company’s
founding philosophy, we always
carefully consider food,agriculture and landscape andmove forward with farmers.

Supporting a farming industry full of dreams and beautiful landscapes andcreating a future of sustainable agriculture and landscape

Solution

Spirit of ISEKI – Passion of founder –“I want to free farmers from exhausting labor”
Agriculture was hard work, done by hand and with the help of animal power. To change this, Kunisaburo Iseki,

Quality──As a front-runner, we produce
innovative products andhigher quality services.

We will always make premium
quality products with passion.

Innovation

Global────

We create innovations andprovide new value.

With a global perspective,
we work toward solutions to
the world’s social issues.

Paving the way for tomorrow,
open up the future of food,agriculture and landscape.

Company Motto
Our management philosophy is to provide:

1. Products that satisfy customers;
2. A stable workplace to the employees;“We produce good machinery,” Kunisaburo Iseki, the founder, used to say. He devoted himself to providing

3. Appropriate dividend to the shareholders;

day as “ISEKI’s spirit.”

ISEKI Report 2024

FutureWe constantly take action forsolutions to customer issues.

the founder, realized laborsaving through mechanization and endeavored to further develop agriculture.
products that made customers happy. The founder’s passion has been inherited in an unbroken line to this1

Front runner─

To be a “Solution Provider for Agriculture & Landscape”

and thereby we will fulfil our social mission.

ISEKI Report 2024

2

Key Points of ISEKI Report 2024
Editing policy

CONTENTS

ISEKI Report consists of three pillars of ISEKI Group’s value creation: “ISEKI Group’s value creation aims,”“Business strategies for value creation,” and “Foundation for sustainable growth.” We have been striving toenhance and improve the content based on opinions of stakeholders on our ISEKI Reports and insights
obtained through daily engagement activities, among other things.

What ISEKI Group aims for ...........................................................................1
Key Points of ISEKI Report 2024 ..................................................................3

Introduction
History of solving social issues ..............................................................5
ISEKI Group ...................................................................................................7

ISEKI Group’s value creation aims

Key Point

1“Project Z” measures to promote fundamental structural reforms and growthstrategies
This section showcases purposes of “Project Z,” which was announced on February 14, 2024, toward therealization of our long-term vision, “To be a ‘Solution Provider for Agriculture & Landscape’,” as well as growthstories and measures for fundamental structural reforms and growth strategies.
P13–18 Message from our President

P41–44 Overseas Market Strategies

P25–28 Project Z

P45–48 Product/Development Strategies

P37–40 Domestic Market Strategies

Key Point

2

Message from our President ...............................................................13
Value creation process ..........................................................................19
Materiality ..................................................................................................21
ISEKI Group’s operating capital ..........................................................23

Business strategies for value creation

24“Project Z,” business structural reform without exceptions .....25
Responses toward realization of management conscious of
capital costs and stock prices .............................................................29

Business activities that leverage the strengths of ISEKI Group— theme: environmental responses —Financial and capital strategies ..........................................................31

Through the roundtable discussion by General Manager of Green Innovation Promotion Section, Director ofDream Agricultural Research Institute, General Manager of Europe Sales & Marketing Department themed
environmental responses, this section provides in-depth explanations on our initiatives toward value
creation leveraging “Technological capabilities,” “Support capabilities to offer farm business proposals,” and“Innovation based on collaboration,” which are the strength of ISEKI Group.

Overseas Market Strategies .................................................................41

P33–36 ISEKI Group’s strengths

ISEKI Group’s strengths .........................................................................33
Domestic Market Strategies ................................................................37
Product/Development Strategies .....................................................45
Response to climate change ...............................................................49

Foundation for sustainable growth52

Sustainability in ISEKI Group ...............................................................53

Initiatives to strengthen corporate governance

Stakeholder engagement ....................................................................54

Through a message from the Outside Director who serves as the Chair of the Board of Directors, this section
introduces initiatives to strengthen governance with the aim of improving corporate value.

Human resource strategies ..................................................................57

Intellectual property strategies .........................................................55

Key Point3

12

P67–68 Message From an Outside Director

Environmental management ..............................................................61
Efforts to improve quality and customer satisfaction ................63

Two new female Directors assumed their offices upon approval at the Ordinary General Meeting of
Shareholders held in March 2024, for the purpose of increasing diversity of the Board of Directors. Messages
from the newly appointed Outside Directors are presented.
P74 Messages From Newly Appointed Outside Directors

DX Promotion ...........................................................................................65
Initiatives for society ..............................................................................66

Messages From Newly Appointed Outside Directors ................74
List of officers ............................................................................................75

The Company has published ISEKI Reports since 2019, for the purpose of having
constructive dialogue with stakeholders. This report was edited through united effortsof related departments, that organized a Group-wide project led mainly by young andmid-career employees who will be responsible for ISEKI Group’s next generation.
As the Director in charge of investor relations, with responsibility for this report’s
preparation, I affirm that this report was produced in good faith with the involvementof the management team and the cooperation of related departments, and its
content is accurate.

Dialogue with shareholders and investors ....................................77
Risk management ...................................................................................79
Compliance ...............................................................................................81
Director & Senior Corporate Officer
In charge of Personnel,
Corporate Planning, andPublic & Investor Relations
Deputy in charge of Compliance

Masayuki Fukami

Covered period
From January through December 2023.
The report also includes some information from and after January
2024.

Scope
As a general rule, this report covers the activities of ISEKI & Co., Ltd. and ISEKI
Group’s associated companies in Japan and overseas; notes are added
when the scope is limited in certain part hereof.

Referenced guidelines, etc.
IFRS Foundation, “The Integrated Reporting Framework” / Ministryof Economy, Trade and Industry, “Guidance for Collaborative Value
Creation 2.0” / GRI, “Sustainability Reporting Standards” / ISO26000/ SDGs / Ministry of the Environment, “Environmental Reporting
Guidelines” / Task Force on Climate-related Financial Disclosures(TCFD)

Positioning of information disclosure
ISEKI Group has issued a variety of communication tools to enable
constructive dialogues with stakeholders. For detailed information
on operating results, ESG data, etc., please refer to the latest
information on “Investor Relations” and “Sustainability” pages of our
website; along with the ISEKI Report.
Financial information

Non-financial information

Integrated Report (ISEKI Report)• Management strategies(Mid-term Management Plan)• Securities reports• Quarterly financial summaries• Quarterly briefing presentationmaterials• Business reports• Corporate Governance Report• ESG data

Message From an Outside Director ..................................................67
Corporate governance ..........................................................................69

Publication of “ISEKI Report 2024”

This report has been published with the aim of communicating our
initiatives for medium- to long-term improvement of the corporate
value of ISEKI Group to a wide range of stakeholders including
shareholders and investors from both financial and non-financial
aspects.

Financial and non-financial data

Website (Investor Relations / Sustainability)

Notes on forward-looking information
Forward-looking statements contained in this report are based on
information available at the time of the preparation and involve
potential risks and uncertainties. Actual results may differ fromthose expressed by the statements due to changes in economic
conditions and market trends.
*Amounts and numbers of shares are rounded down to the unit.

Financial highlights ................................................................................83
Financial summary (consolidated) ....................................................84
Non-financial highlights .......................................................................85

Company information / Stock information
Company information / Stock information ...................................86

3

ISEKI Report 2024

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4

Introduction

ISEKI Group’s value creation aims

Business strategies for value creation

Foundation for sustainable growth

Financial and non-financial data

Company information / Stock information

Introduction

History of solving social issues
We have contributed to society in the fields of “food, agriculture, and landscape.”
The Company has inherited the passion of our founder, “I want to free farmers from exhausting labor,” and continued to generate value that
contributes to solution of social issues and grow by “providing innovative products and higher quality of services to the customers” in the fieldsof “food, agriculture, and landscape.” We will take on challenges to solve global social issues, with an eye toward the 100th anniversary of our
foundation in 2025, and the future beyond.

Foundation

1945 to 1960s

1970 to 1980s

1985 to 2000s

2010 to 2020s

Toward the future

1926

1945-

1970-

1985-

2010-

Smart agriculture

Foundation

Supported the post-war food production
increase and high economic growth

Expansion to overseas markets

Strengthened support to offer farm businessproposals

Acceleration of global expansion / promotionof sustainability

Kunisaburo Iseki, the founder, had a strong passion, “I want to free
farmers from exhausting labor,” originated from his experiencein agriculture which was his family business. With this passion
in mind, he established “Iseki Farm Implement Trading Co.” inMatsuyama City, Ehime Prefecture and began selling fullyautomated rice hullers. This is the start of the history of ISEKI Group
that continues until today.
We have inherited the passion of the founder up to present in
an unbroken line as ISEKI’s DNA.

We have supported the post-war food production increase andhigh economic growth through contribution to automation andmodernization of agriculture by developing numerous agricultural
machinery and establishing the integrated rice cultivation system.
We expanded sales bases nationwide to respond to the rapid
increase in demand. The Company was the first to sell the walking
combine harvester, “HD50-model Frontier,” as the world’s firstauto-threshing combine harvester suitable for rice farming in ricepaddies. In addition, the walking rice transplanter, “PF20,” wasequipped with a backward-tilting seedling tank which used plastic
float, and established the current basic form. They were selected
as part of “the best 100 innovations in post-war Japan” in 2014,
recognizing them as products that significantly contributed to thedevelopment of industries and economy in Japan.

We promoted expansion to overseas markets to enhance businessof the Company. The Company concluded an agency agreementwith the French agent, Yvan Beal (currently ISEKI France), in
1967, to commence export and sale of tillers that served as thefull-fledged start of our business in Europe, and established a local
subsidiary in Belgium in 1971. We promoted sale of tractors inthe small-sized tractor market in North America and Europe, themain application of which are maintenance of parks and gardens,
management of homegrown-vegetable gardens, etc. rather
than the agricultural use. This initiative served as the foundation
for the current landscaping business. In Asia, we embarked on
global business by forming a sales network through efforts suchas building relationships with local distributors, while providing
cooperation in domestic production of agricultural machinery.

In 1990, labor hours* in rice farming dropped to one-fourth of
those of 1960, thanks to advances in mechanization. Meanwhile,mechanization needs for vegetable farming increased. We havecontributed to laborsaving by developing transplanters that
automatically plant vegetable seedlings through applicationof the transplanting technologies of rice transplanters whichwere the strength of the Company. Furthermore, in conjunction
with agricultural machinery, we have strengthened support tooffer farm business proposals by leveraging our farm businesstechnologies and know-how accumulated so far, and provided
value of new agriculture that contributes to improvement ofagricultural productivity and food reliability and safety. The support
capabilities to offer farm business proposals are the source of thecurrent competitive edge of ISEKI Group. In addition, the Company
started the coin rice milling business in 1984 and sale of automatedsuccessive rice cooking equipment in 1985. Through these andother efforts, we began activities in the field of food.

Starting with the establishment of PT ISEKI INDONESIA as a global
production base in 2012, the Company accelerated its global
expansion by, for example, establishing ISEKI SALES (THAILAND) in
Thailand in 2013, and making a French agent, Yvan Beal (currently
ISEKI France), a Thai distributor, IST Farm Machinery Co., Ltd., andISEKI Germany, subsidiaries, in 2014, 2020, 2022, respectively. In
the domestic market, we contributed to super laborsaving andhigher profitability of agriculture by promoting smart agriculturethat utilizes advanced technologies and data and environmentallysound agriculture, with the aim of responding to changes in the
agricultural structure such as increased large-scale farming.

We are promoting smart agriculture that utilizes the latest
technologies such as robot technologies and information andcommunication technology (ICT).
We aim to realize highly efficient and productive farm business.

Contribution to agriculture of the world
We will contribute to more efficient food production and moreproductive agriculture through automation of agriculture in Asianand other countries.

*Direct labor hours per 10 acres in rice farming

Enhancement of quality of life
PT ISEKI INDONESIA, a global production baseKunisaburo Iseki, the founder
The world’s first auto-threshingcombine harvester,
HD50-model

Walking ricetransplanter equippedwith a backward-tilting
seedling tank, PF20

Issues and needs● Post-war needs for a food production

increase

Value● Saving of labor and improvement ofFirst fully-automated rice huller
produced after the foundation

1926 Iseki Farm Implement Trading Co. was established1936 ISEKI & CO., LTD. was established5

ISEKI Report 2024

productivity through automation ofagriculture

1946 Established Matsuyama Factory
1949 Established Kumamoto Factory
1958 Began establishing sales subsidiaries
Subsequently, established sales subsidiaries around Japan
1961 Established Niigata Factory
Listed its shares on the Tokyo Stock Exchange
1969 Renamed Tokyo Branch as Tokyo Headquarters

Export and sale of tillers in Europe

Issues and needs● A decrease in agricultural workforce

following the high economic growth● Increased switchover to heavy industries● Accelerated overseas business expansion ofJapanese companies

Value● Improved productivity throughestablishment of the integrated system for
automating rice farming● Contribution to Japan’s economic
development through larger-sized and morediversified agricultural machinery

1971 Established N.V. ISEKI Europe S.A.S. (currently ISEKI Europe GmbH) in
Brussels
1972 Expanded Matsuyama Factory, relocated Head Office to Matsuyama
1977 Established Central Training Center in Ibaraki Prefecture
Commenced exporting tractors (OEM) to North America

Fully-automated vegetable transplanter,“Naueru PV101”

Issues and needs● Accelerated decrease in number and aging

of farm workers● Improvement in food self-sufficiency rate
● Needs for a food production increase

following world’s population growth
Value● Agricultural productivity improvement andlandscaping through provision of agricultural
machinery that is suitable for each region in
Japan and overseas● Provision of new agricultural value by
supporting and offering proposals for farmbusiness
2001 Separated the Production Section from the company and established
ISEKI-Matsuyama MFG. Co., Ltd. and ISEKI-Kumamoto MFG. Co., Ltd.
2003 Established Iseki-Changzhou Mfg. Co., Ltd. in Jiangsu Province, China

We will contribute to town development in Europe and enrichmentof private lives in North America.

Issues and needs● Strengthening of food security● Productivity improvement associated withincreased large-scale farming and adding
value to farm produce● Increased responses to natural disasters andclimate change● Increased environmental responses andcontribution to realization of decarbonizedsociety

Environmental preservation
We will contribute to the realization of a decarbonized andrecycling-oriented society.

Value● Agricultural productivity improvement

through laborsaving, unmanned equipment,
and data utilization● Reduction in CO2 emissions throughpromotion of environmentally soundagriculture, electrification, etc.
2011
2012
2013
2014

Established Dongfeng Iseki Agricultural Machinery (Hubei) Co., Ltd. in Hubei Province, China
Established PT. ISEKI INDONESIA
Established ISEKI SALES (THAILAND) CO., Ltd. (current IST Farm Machinery CO., Ltd.)
Integrated the businesses of Iseki-Changzhou Mfg. Co., Ltd. and Dongfeng Iseki Agricultural Machinery (Hubei) Co., Ltd.
and established Dongfeng Iseki Agricultural Machinery Co., Ltd.
Acquired French agents Yvan Beal S.A.S. and YB Holding S.A.S. (current ISEKI France S.A.S.) and made them subsidiaries
2015 Established Dream Agricultural Research Institute2020 Made Thai distributor IST Farm Machinery Co., Ltd. a subsidiary2022 Made Germany distributor Iseki-Maschinen GmbH a subsidiary

ISEKI Report 2024

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Introduction

ISEKI Group’s value creation aims

Business strategies for value creation

Foundation for sustainable growth

Other agriculturerelated business

Cultivating andmowing machinery

Asia(19.6%)(36.2%)

Financial and non-financial data

Company information / Stock information

Introduction

ISEKI GroupAt a glance

Composition of net sales
Foundation

Consolidated net sales

August 1926

169.9 billion yen

33.3 billion yen

61.4 billion yen

In Fiscal Year Ended December 31, 2023, since overseas sales hit
a record high for three consecutive fiscal years, consolidated net
sales also hit a record high.

8.1 billion yen

1.1 billion yen

EuropeNet salesby product33.2

billion yen

Planting machinery

9.0 billion yen

Implements, spare partsand repair fees

48.9 billion yen(28.8%)

North
America

Net salesby region

14.2(5.3%)

With a passion, “I want to free farmers from exhausting labor,”
Kunisaburo Iseki, the founder, established “Iseki Farm Implement
Trading Co.” in Matsuyama City, Ehime Prefecture.

Otherbillion yen

Harvestingand processing
machineryJapan

113.0 billion yen

17.0 billion yen(10.1%)

Group companies

Overseas net sales (%)

21

33.5%

Our associated companies include 20 consolidated subsidiaries inJapan and overseas: 9 domestic sales subsidiaries, 6 productionrelated companies, and others (2 domestic and 3 overseas
companies), as well as 1 equity-method subsidiary.

7

Overseas net sales grew to 33.5% from 21.3% five years ago.
We have steadily increased our presence overseas, working to
expand awareness of our brand.

Number of employees (consolidated)Intellectual properties / Number of patentapplication registrations per specialty field

5,457

No. 2

As of the end of 2023, 1,670 employees in development andmanufacturing departments, 3,427 in sales departments, and 360
in other divisions.

We have ranked highly since 2000 with regard to the numbersof laid-open applications and patent application registrations
per specialty field in Japan. In 2022, we ranked second for thenumber of patent application registrations in the “other special
machinery field,” and ranked third for the patent allowance rate in
all industries.

ISEKI Report 2024

Overview of products and services
Cultivating and mowing machinery

Planting machinery

Harvesting and processing machinery

Main products
Tractors, riding lawn mowers, tillers,
multipurpose vehicles, high-clearance
multipurpose vehicles

Main products
Rice transplanters, vegetable transplanters

Main products
Combine harvesters, binders, rice hullers,measuring and sorting machinery ricegraders

Main sales region
Japan and Asia (Agri)

Main sales region
Japan and Asia (Agri)Europe and North America (Non-Agri)

Implements, spare parts and repair fees

Main sales region
Japan and Asia (Agri)

Other agriculture-related business

Main products

Main products

Parts for repairing products of Japanese andforeign implements manufacturers, etc.,
repair, maintenance

Facility construction, agricultural materials,
coin rice milling business, rice cooking
business

Main sales region

Main sales region

Japan, Asia, Europe, and North America

Japan

ISEKI Report 2024

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Introduction

ISEKI Group’s value creation aims

Business strategies for value creation

Foundation for sustainable growth

Financial and non-financial data

Company information / Stock information

Introduction

ISEKI GroupWe conduct business with priority on “Japan,” “Asia,” “Europe,” and “North America.”

Japan
Other

Cultivating andmowing machinery

25.4 billion yen

Through sales subsidiaries, we sell agricultural machinery andprovide services, as well as offer farm business proposals andsupport to realize highly profitable agriculture.

22.0 billion yen

23%

Sales route19%●

Net sales

113.0 billion yen

Planting
machinery

7.2 billion yen
6%Harvesting andprocessing
machinery

Implements, parts,
and repair fees

15.7 billion yen

42.5 billion yen

14%

38%

11 sales subsidiaries

Since we started business in 1960s, the sales area has expanded tocover the entire Europe. We mainly sell landscaping machinery inthis market where we have a significant presence.

EuropeImplements
and parts, etc.

Sales route (major agents)

11.2 billion yen
34%■ Agri products (for agricultural use)

Net sales

33.2 billion yen

As an integrated manufacturer specializing in agricultural machinery, we haveestablished an integrated system for automating farming of rice and field
crops, and we also have a broad range of product lineup from products forhobby to ones for professionals.

●

France: ISEKI France (consolidated subsidiary)
Germany: ISEKI Germany (consolidated subsidiary)●

U.K.: ISEKI UK & IRELAND●■ Non-Agri products (for landscaping)
Products (mainly
cultivating andmowing machinery)

21.9 billion yen■ Implements, parts, and repair fees

66%

Amid the increase in size of farm business, a greater emphasis has beenplaced on maintenance (readiness of parts and for repair) so as to enablesystematic operations. We have placed a focus on this field, improving service
systems, as a stable revenue base not too much dependent on market trends.

We offer ISEKI-brand products, mainly compact tractors used for landscaping,such as mowing lawns in parks and road cleaning, as well as riding lawn
mowers.

■ Other products
We purchase and sell electric- and gasoline-powered compact products for
managing green space which have a high synergy effect with our products.

■ Other
We handle construction of facilities such as agricultural facilities, agricultural
materials such as fertilizers, and food/kitchen-related products, etc.

Riding lawn mowers used for maintenance, etc. of parks and fields

Manned monitoring-based robot rice transplanters which promote highexpectations for further laborsaving

In each of the ASEAN, East Asian (South Korea and Taiwan), andChinese markets, we offer agricultural machinery using technology
and know-how nurtured through our business in Japan.

Asia
Implements
and parts, etc.

■ ASEAN

1.8 billion yen

In the ASEAN market where future growth is expected, we conduct sales andservices into Thailand and its neighboring countries with IST Farm MachineryCo., Ltd., our consolidated subsidiary, playing a central role.

23%

Net sales

8.1 billion yen

Sales route●

Products

77%

Implements
and parts, etc.

Sales route

1.0 billion yen
7%●

In response to their increased needs for advanced technologies and largescale agricultural machinery, we provide large-sized, high-performance ricefarming machinery, etc. that is in active use in Japan through local sales agents.

U.S. and Canada: AGCO Corporation (OEM)■ Non-Agri products (compact tractors, etc.)

Net sales

14.2 billion yen

IST Farm Machinery Co., Ltd. (consolidated subsidiary)■ East Asia (South Korea and Taiwan)
6.2 billion yen

We supply Massey Ferguson-brand products on an OEM basis
through our business partnership with AGCO Corporation, a major
global manufacturer of agricultural machinery.

North America

Products (mainly
cultivating andmowing machinery)

13.2 billion yen
93%

We sell our products, mainly sub-compact tractors for private users, in entire
North America, including Canada.
We contribute to the improvement of quality of private lives, as ourcompact tractors equipped with a front loader, backhoe, mower, etc. are used
for park management and development, as well as hauling of such materials
as feeds for horses.

Sales route●

South Korea: Local sales agents●

Taiwan: Local sales agents■ China

We locally manufacture and sell tractors, rice transplanters, combine
harvesters, etc. which are adapted to operation in rice paddies. We also sell
agricultural machinery equipped with latest technologies and manufactured
in Japan.
Sales route

Tractors used in Thailand●

Dongfeng Iseki (equity-method subsidiary)

Used for hauling with a front loader

Used for mowing with a mower*Local net sales of Dongfeng Iseki are not included in our consolidated financial statements.

9

ISEKI Report 2024

ISEKI Report 2024

10

Introduction

ISEKI Group

Number of employees (consolidated)

5,457
Development and manufacturing department • • • 1,670
Sales department • • • • • • • • • • • • • • • • • • • • • 3,427
Other division • • • • • • • • • • • • • • • • • • • • • • • • • 360■ Japan: Main associated companies/sales subsidiaries(As of December 31, 2023)● Associated companies● Sales subsidiaries

ISEKI-Matsuyama MFG. Co., Ltd. ◆ISEKI-Kumamoto MFG. Co., Ltd. ◆ISEKI-Niigata MFG. Co., Ltd.
◆ISEKI-Shigenobu MFG. Co., Ltd. ◆ISEKI-Minamiyoshida MFG. Co., Ltd. (*1) ◆ISEKI AGRI Co., Ltd.
ISEKI Logistics Co., Ltd.
ISEKI TLS Co., Ltd.
Kita-Nihon Shodo K. K.

ISEKI Hokkaido Co., Ltd.
■ISEKI Tohoku Co., Ltd.
■ISEKI Kanto Koshinetsu Co., Ltd. ■Gunma ISEKI Sales Co., Ltd.
Ishikawa Shokai Co., Ltd. (*1)
ISEKI Kansai Chubu Co., Ltd.
■Mie ISEKI Sales Co., Ltd.
Nara Iseki Sales Co., Ltd. (*1)
Nishioka Shokai Co., Ltd. (*1)
ISEKI ChuShikoku Co., Ltd.
■ISEKI Kyushu Co., Ltd.
■ISEKI Group’s value creation aims
CONTENTS

Message from our President ........................................................................13

We leverage group-wide strengths at home and abroad to engage in the business.

Value creation process .....................................................................................19

Our products are used in many countries and regions around the world.

Materiality ..............................................................................................................21
ISEKI Group’s operating capital ...................................................................23■ Overseas: Main associated companies/strategic partners[Associated companies]
France
ISEKI France S.A.S. (ISEKI France)
Germany
ISEKI Europe GmbH (ISEKI Europe)(*1)
Iseki-Maschinen GmbH (ISEKI Germany)
U.K.
Premium Turf-Care Ltd. (ISEKI UK & IRELAND)(*1)
ThailandIST Farm Machinery CO., Ltd.
Indonesia
PT. ISEKI INDONESIA ◆China
Dongfeng Iseki Agricultural Machinery Co., Ltd. (Dongfeng Iseki) ◆ (*1, 2)[Strategic partners]
U.S.
AGCO Corporation of AGCO Group (*3) (AGCO)
India
Tractors and Farm Equipment Limited (TAFE) (business alliance)◆ Production sites■Wide-area sales companies (our investment ratio: 100%)*1: Non-consolidated subsidiaries *2: Equity-method subsidiary*3: OEM customer(As of May 31, 2024)■ Production sites/main machine types produced
Associatedcompanies(location)

ISEKI-Matsuyama MFG.
Co., Ltd.
(Japan)Dongfeng Iseki Agricultural
Machinery Xiangyang Factoryand Changzhou Factory(China)Tillers, multipurpose vehicles,
and implements (rotaries,
mowers, etc.)

Tractors and riding lawn mowers

Tractors, rice transplanters,
combine harvesters, highclearance multipurpose vehicles,
and vegetable transplanters

Japan, Asia, Europe, andNorth America

North America, Asia, and Europe

Asia

ISEKI-Niigata MFG.
Co., Ltd.
(Japan)ISEKI-Shigenobu MFG.
Co., Ltd.
(Japan)Main machine
high-clearance multipurpose
types produced

Combine harvesters, and carrot
harvesting machinery

Rice transplanters, vegetabletransplanters, and rice hullers,binders

Main destination Japan, Asia, Europe, andfor shipment North America

Japan and Asia

Japan and Asia

Tractors, riding lawn mowers,
vehicles, and diesel engines

11

PT.ISEKI INDONESIA(Indonesia)

ISEKI-Kumamoto MFG.
Co., Ltd.
(Japan)ISEKI Report 2024

ISEKI Report 202412