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MT orders total 122 billion JPY in June 2023: First increase in 3 months

July 21, 2023

The Japan Machine Tool Builders’ Association (JMTBA) announced the firm report of machine tool orders for June 2023. The total amount of orders received was 122.0 billion yen. This was the first month-on-month (MoM) increase in three months and the sixth consecutive month of year-on-year (YoY) decrease, and the first time in two months that the amount of orders exceeded 120.0 billion yen. While foreign demand decreased slightly from the previous month, domestic demand, boosted by subsidies and other factors, led to a MoM increase in the total amount of orders received. Although both domestic and foreign demand are in the midst of an adjustment phase, there have been no major declines and the firm trend has remained. This was the 29th consecutive month in which total orders exceeded 100 billion yen. 

Domestic demand was 40.8 billion yen, the first MoM increase in three months and the tenth consecutive month of YoY decline. Domestic demand exceeded 40 billion yen for the first time in two months, boosted by the first round of subsidies to support the renewal of energy-saving facilities and equipment in the FY 2022 supplementary budget approved on June 9. 

Among the 11 industry sectors, 8 industries posted MoM increases, while 10 industries posted YoY decreases. The decline was particularly large in Electrical & Precision Machinery, which is mainly related to automobiles and semiconductors. Notably, Motor Vehicles also fell below 7.5 billion yen for the first time in 33 months, and there seem to be no signs of recovery in this sector. 

Foreign demand decreased MoM for the third consecutive month and YoY for the sixth consecutive month to 81.1 billion yen, falling below 85 billion yen for the second consecutive month. However, it has remained above 80 billion yen for 28 consecutive months, maintaining a solid level. 

Orders received by region were as follows: Orders from Asia, which were significantly affected by China falling below 20 billion yen for the first time in 34 months, fell below 35 billion yen for the first time in 31 months. Orders from Europe, mainly the EU, increased from the previous month and exceeded 19 billion yen for the first time in two months. In North America, orders for aircraft in the U.S. and for automobiles in Mexico increased and exceeded 25 billion yen for the fourth consecutive month. Although there are rumors of concern about the future of the Chinese economy, orders in Europe and North America remain high.  

June Summary

Amount (million yen) MoM change (%) YoY change (%)
Total Orders 122,025 102.1 78.9
Domestic total 40,850 108.0 69.6
Industrial Machinery 19,286 109.4 78.1
Motor Vehicles 7,286 93.1 59.9
Electrical & Precision Machinery 4,811 131.6 59.9
Aircraft/Shipbuilding/Transport equipment 1,262 70.0 69.8
Foreign total 81,715 99.3 84.5
Asia 33,307 92.5 64.5
Europe 19,368 108.2 128.3
North America 26,236 103.5 96.4



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