Domestic demand increases significantly, orders in September to 144B yen

Japan Machine Tool Builders’ Association (JMTBA) announced on October 21, 2021, the confirmed figure of Japan machine tool orders in September, which increased by 71.9% y/y to 144.6 billion yen. Total orders exceeded 140 billion yen for the first time in 36 months, since 153.4 billion yen in September 2018. With the end-of-term effect, both domestic and foreign demand continue recovery trend.

Domestic demand was 57.5 billion yen, up 90.2% y/y and 29,1% m/m. It was the first time in 33 months since December 2018 that it exceeded 55 billion yen due to effect of the end of the first half of the fiscal year and the subsidies. By industry, recovery is progressing in a wide range of industries, in addition to strong semiconductor manufacturing equipment-related demand.

Foreign demand rose 61.7% y/y and 7.0% m/m to 87.0 billion yen. By region, in Asia, orders for general machinery in China were subdued and orders for Southeast remained sluggish. On the other hand, there were large orders for automobiles in China and India, resulting in a foreign demand month-on-month increase. In Europe, orders from Germany exceeded 4 billion yen for the first time in 29 months. In North America, orders for automobiles and aircraft increased. In Europe and North America, the recovery from the COVID-19 disaster will continue in September after summer vacations.

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