Japanese Cutting-Edge
Solutions for Metalworking
Japanese Cutting-Edge
Solutions for Metalworking
Statistic
June 26, 2024
The Japan Machine Tool Builders’ Association (JMTBA) has released the final figures for Japan’s machine tool orders in May 2024, showing a total of 124.5 billion yen. This is the first month-on-month (MoM) increase in two months, and the total has exceeded 120 billion yen for three consecutive months. Notably, the year-on-year (YoY) increase is the first in 17 months. The increase is mainly driven by external demand, but indicates a potential shift to a gradual upward trend.
Domestic orders, however, declined for the second consecutive month on a MoM basis and for the 21st consecutive month on a YoY basis, totaling 34.8 billion yen. This is the first time in three months that domestic orders have fallen below 35 billion yen.
Seven out of eleven industries showed declines, both MoM and YoY. Key sectors such as Industrial Machinery and Motor Vehicles have continued to show weakness. Since the beginning of 2024, excluding the March fiscal year-end effect, Industrial Machinery has not exceeded 15 billion yen and Motor Vehicles has not exceeded 9 billion yen, remaining at historically low levels. Meanwhile, sectors such as Electrical & Precision Machinery and Aircraft/Shipbuilding/Transport Equipment posted YoY increases, indicating a recovery in sectors such as semiconductors and aviation.
Foreign orders increased for the first time in two months to 89.6 billion yen. All three major regions posted MoM increases, bringing the total close to 90 billion yen and marking the first YoY increase in 17 months.
Asia: Despite declines in Other Asia and South Korea due to reactions from substantial orders in the previous month, China remained on a growth path, likely benefiting from policies to expand domestic demand. As a result, the total for Asia exceeded 40 billion yen for the second consecutive month and increased YoY for the second consecutive month.
Europe: Orders increased MoM, particularly in the EU, but remained below 18 billion yen for the fifth consecutive month, indicating continued weakness.
North America: After significant cancellations in the United States in April, orders recovered in May and exceeded 27 billion yen for the first time in two months, showing a stable level of demand.
| Amount (million yen) | MoM change (%) | YoY change (%) | |
| Total Orders | 124,530 | 103.0 | 104.2 |
| Domestic total | 34,837 | 95.8 | 92.1 |
| Industrial Machinery | 14,360 | 111.9 | 81.5 |
| Motor Vehicles | 7,716 | 87.2 | 98.6 |
| Electrical & Precision Machinery | 4,373 | 99.5 | 119.6 |
| Aircraft/Shipbuilding/Transport equipment | 2,038 | 76.1 | 113.0 |
| Foreign total | 89,693 | 106.1 | 109.8 |
| Asia | 42,615 | 101.6 | 118.3 |
| Europe | 17,263 | 101.8 | 96.4 |
| North America | 27,632 | 121.7 | 109.0 |
Japan MT orders for
Share On :
