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October MT orders, first YoY drop in two years but at a high level

November 24, 2022

Japan Machine Tool Builders’ Association (JMTBA) announced the firm report for machine tool orders for October 2022. The total amount of orders received was 141 billion yen, the first year-on-year (YoY) decrease in 24 months. Meanwhile, the total orders exceeded 140 billion yen for the second consecutive month, remaining at a quite high level for the month of October, the second-highest level ever recorded after the previous year. It was also the 21st consecutive month in which orders exceeded 100 billion yen.

Domestic demand decreased month-on-month (MoM) for the first time in two months and YoY for the second consecutive month, falling to 44.5 billion yen. It was the first time in five months that domestic demand fell below 50.0 billion yen. The MoM decline in October is likely due to a reactionary drop from the previous month, which saw the positive effects of the fiscal half-year, and also due to holding off on buying ahead of the JIMTOF in November.

By industry, 8 out of 11 industries saw MoM declines. This phenomenon, however, should be temporary, with domestic demand remaining strong.

Foreign demand decreased for the first time in two months from the previous month and for the first time in 24 months from the same month last year to 96.5 billion yen. It was the second consecutive month in which foreign demand exceeded 95.0 billion yen. Orders remained at a strong level, marking the 12th highest single month and the second highest for October on record.

Orders by region also remained at a high level in all three major markets (Asia, Europe, and North America). Orders for Asia, particularly in China, South Korea, and India, have remained at a high level. Orders for Europe are firm, mainly in Germany and other major EU countries, and this month Turkey hit its record high since the classification was set. North America also remains strong; with the U.S. exceeding 27 billion yen for the second month in a row as the IMTS effect persists.

October Summary

Amount (million yen) MoM change (%) YoY change (%)
Total Orders 141,062 93.5 94.5
Domestic total 44,560 85.0 88.6
Industrial Machinery 17,536 85.8 87.9
Motor Vehicles 10,492 87.1 108.4
Electrical & Precision Machinery 5,585 82.6 73.0
Aircraft/Shipbuilding/Transport equipment 1,949 126.5 61.2
Foreign total 96,502 98.0 97.5
Asia 44,649 94.0 108.4
Europe 19,196 101.2 75.4
North America 30,012 99.6 98.7




Japan MT orders for

October 2021: strong orders from Europe and the U.S.

November 2021:Both domestic and foreign demand remain strong

December 2021: First drop below 140 billion yen in 4 months, but still remains high

2021 summary: Japan’s MT orders in 2021 raise for the first time in 3 years

January 2022: Large orders in foreign demand; total orders exceed 140 billion yen

February 2022: High levels of both domestic and foreign demand, generally keeping strong

March 2022: Strong March results despite risk factors

April 2022: April MT orders, minimal impact from risk factors

May 2022: May MT orders, 3 new records for foreign demand

June 2022: June MT preliminary report, orders remain favorable

July 2022: July MT orders, second-highest July month on record

August 2022: August MT orders, falling below 140 billion JPY first time in 6 months

September 2022:September MT orders, foreign demand hits a record high for September

Related Topics

Japan MT order

Machine tool

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