According to the data released by the Japan work machinery industry association on April 12, Japan’s domestic machine tool orders in March were 40.6 billion yen, up 18.7% year-on-year. Since November 2018, there has been a year-on-year growth in two years and three months. Due to the active semiconductor market and the recovery of automobile production, the demand for production equipment is increasing, and the prosperity of Japan’s domestic manufacturing industry is recovering.
Together with export orders, Japan’s total machine tool orders in March increased by 65% to 127.8 billion yen, achieving a year-on-year growth for five consecutive months and reaching the highest level since March 2019. Among them, export orders reached 87.1 billion yen, double the year-on-year growth.
In the fiscal year 2020 to the end of March, Japan’s total machine tool orders decreased by 10.1% over the previous fiscal year to 988.4 billion yen. Affected by COVID-19, it fell below 1 trillion yen after 10 years. However, driven by the early recovery of China’s economy, foreign demand orders reached 662.2 billion yen, an increase of 1.4%.