Japan Machine tool orders in March increase 65% year-on-year

April 12, 2021

On April 12, 2021, Japan Machine Tool Builders’ Association (JMTBA) announced preliminary figures of Japanese machine tool orders in March. The total amount of orders received was 127.8 billion yen, up 65.0% from the same month of the previous year. Domestic demand increased 18.7% year-on-year to 40.6 billion yen, and foreign demand increased 101.8% year-on-year to 87.1 billion yen.

As a result of both domestic and foreign demand increasing from the previous month, the total amount of orders has exceeded 120 billion yen for the first time in 24 months since March 2019. The month-on-month increases for the second consecutive month, and the year-on-year increases for the fifth consecutive month.

Domestic demand remains stagnant due to uncertain future by COVID-19, but there are also movements in semiconductors and other industries. In addition to the increase of orders mainly in China, foreign demand also showed a recovery trend in Europe and the United States in February. It is estimated that this trend continues in March.

JMTBA plans to announce the confirmed amount of Japanese machine tool orders in March on April 20th.