February 10, 2023
The Japan Machine Tool Builders’ Association (JMTBA) announced preliminary machine tool orders for January 2023, with a total amount of 129.0 billion yen. This was the first month-on-month (MoM) and year-on-year (YoY) decline in two months, and the first time in 17 months that the total value of orders received fell below 130 billion yen. It was the 24th consecutive month that total orders exceeded 100 billion yen.
Domestic demand increased 2.7% MoM to 43.4 billion yen. This was the first MoM increase in two months. The MoM increase in January was the first MoM increase in 12 years, since 2011 (+0.3%). This may have been due to delaying the expected boost from the 31st Japan International Machine Tool Fair (JIMTOF2022), which was originally expected to occur in December, or it may have been due to large orders. Details will be confirmed in the final report.
Foreign demand decreased 12.8% from the previous month to 85.6 billion yen. This was the first MoM and YoY decline in two months, and the first time in two months that the amount of foreign orders received fell below 90 billion yen. The shorter number of working days due to the Lunar New Year holiday in China may have affected this decline, but as with domestic demand, January is a month that tends to see seasonal MoM declines, and seasonal trends are also likely to be a major factor.
Further details on January orders, including country/regional order values, will be provided on February 21 when the final report is released.
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