Japanese Cutting-Edge
Solutions for Metalworking
Japanese Cutting-Edge
Solutions for Metalworking
Statistic
February 22, 2024
The Japan Machine Tool Builders’ Association (JMTBA) has reported the firm value of machine tool orders for January 2024. Orders totaled 110.9 billion yen. The month-on-month (MoM) figure declined for the first time in three months, while the year-on-year (YoY) figure declined for the 13th consecutive month. Both domestic and foreign demand declined, falling below 120 billion yen for the first time in two months, partly due to a reduction in the number of working days over the New Year holiday and a setback from large orders received in the previous month.
Domestic demand was 30.6 billion yen, the first MoM decline in two months and the 17th consecutive month of YoY decline. Within the overall gradual downward trend, domestic demand fell below 31.0 billion yen for the first time in 35 months since February 2021 (30.5 billion yen) due to fewer working days during the New Year holiday and a backlash from large orders received in the previous month.
Out of all 11 industries, 7 industries showed a MoM decline and 8 industries showed a YoY decline. Among the major industries, General Machinery remained on its downward trend, and in Motor Vehicles, the volume of auto parts decreased by more than 30% from the previous month. Aircraft/Shipbuilding/Transport equipment and the ‘precision machinery’ sector of Electrical & Precision Machinery each fell by nearly half from the previous month.
Foreign demand was 80.3 billion yen, the first MoM decline in three months and the 13th consecutive month of YoY decline, falling below 85 billion yen for the first time in two months. All three major regions experienced MoM declines, partly due to the previous month’s end-of-term effects in Europe and the United States.
Orders by region were as follows: In Asia, orders from South Korea exceeded 2 billion yen for the first time in two months due to large orders, orders from China exceeded 22 billion yen for the third consecutive month, and orders from India exceeded 4 billion yen for the third consecutive month due to large orders for automotive applications. Asia as a whole exceeded 35 billion yen for the second consecutive month. In Europe, while the market was in a flat range, January saw MoM declines mainly in the United Kingdom, Switzerland and Turkey, as well as Germany, which continued to decline from the previous month. The European total fell below 17 billion yen for the first time in 17 months. In North America, all countries in the region saw MoM declines, falling below 25 billion yen for the first time in five months, but still remaining at a solid level.
| Amount (million yen) | MoM change (%) | YoY change (%) | |
| Total Orders | 110,960 | 87.3 | 86.0 |
| Domestic total | 30,603 | 80.0 | 70.5 |
| Industrial Machinery | 12,280 | 86.7 | 67.9 |
| Motor Vehicles | 7,014 | 70.5 | 88.8 |
| Electrical & Precision Machinery | 4,070 | 80.9 | 51.8 |
| Aircraft/Shipbuilding/Transport equipment | 1,357 | 50.9 | 75.5 |
| Foreign total | 80,357 | 90.5 | 93.8 |
| Asia | 36,815 | 94.7 | 99.3 |
| Europe | 16,741 | 85.7 | 80.3 |
| North America | 24,325 | 87.3 | 95.5 |
Japan MT orders for
February 19, 2024
February 16, 2024
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