A machine tool includes a first movable base movable in a horizontal plane in a first direction, a second movable base mounted on the first movable base and movable toward and away from a workpiece in the horizontal plane in a second direction transverse to the first direction, a support base mounted on the movable base, and a spindle stock supported on the support base and rotatable about a center in a vertical plane. A spindle device is mounted on an outer end of the spindle stock at a position off the center. The spindle stock may be an arm rotatable about a longitudinal center thereof, or substantially disc-shaped. The support base has an annular support member disposed on a front surface thereof coaxially with the center, the spindle stock includes a slidable member held in slidable contact with the annular support member.