Statistic
November 28, 2023
The Japan Machine Tool Builders’ Association (JMTBA) announced the firm report of machine tool orders for October 2023. The total amount of orders received was 112.0 billion yen. This was the first month-on-month (MoM) decline in three months and the tenth consecutive month of year-on-year (YoY) decline, falling below 120 billion yen for the first time in two months. Domestic demand showed a MoM decline due to a reactionary decline from the effects of the end of the first half of the fiscal year, and foreign demand showed a MoM decline due to a reactionary decline from large orders received in various regions. However, the level of new orders was almost the same as in July and August, and the trend remained in the flat range in the midst of the adjustment phase. This is the 33rd consecutive month that orders have exceeded 100 billion yen.
Domestic demand fell to 33.6 billion yen, the first MoM decline in two months and the 14th consecutive month of YoY decline. It was the first time in two months that domestic demand fell below 40.0 billion yen, and the first time since May 2021 (33.22 billion yen) that domestic demand fell below 35.0 billion yen.
Among the 11 industries, 9 industries showed a MoM decline and 10 industries showed a YoY decline, partly due to a reactionary decline from the previous month. October was the lowest month this year. The lack of momentum in the general machinery and automobile sectors is leading to a gradual downward trend, and the trend going forward should be watched closely.
Foreign demand was 78.4 billion yen, the first MoM decline in three months and the tenth consecutive YoY decline, and below 80 billion yen for the first time in two months.
Orders by region were as follows: In Asia, orders from East Asia increased from the previous month and remained above 30 billion yen for the third consecutive month, while there was a reactionary decrease in India after last month’s high-volume orders. In Europe, orders fell below 20 billion yen for the first time in two months, partly due to a reactionary decline from last month’s large orders in Turkey and “Central Europe” of the EU countries. In North America, orders fell in all countries from the previous month’s record high, but remained steady at over 25 billion yen.
Amount (million yen) | MoM change (%) | YoY change (%) | |
Total Orders | 112,053 | 83.7 | 79.4 |
Domestic total | 33,644 | 74.7 | 75.5 |
Industrial Machinery | 14,116 | 80.0 | 80.5 |
Motor Vehicles | 7,977 | 77.6 | 76.0 |
Electrical & Precision Machinery | 3,421 | 59.7 | 61.3 |
Aircraft/Shipbuilding/Transport equipment | 1,230 | 73.3 | 63.1 |
Foreign total | 78,409 | 88.2 | 81.3 |
Asia | 30,548 | 94.3 | 68.4 |
Europe | 18,211 | 88.0 | 94.9 |
North America | 27,551 | 80.6 | 91.8 |
Japan MT orders for
September 15, 2023