Reduced Chinese demand, Japanese machine tool orders fell sharply in the first half of 2012

by:Gewinn     2022-05-31
The trend of Japanese machine tool orders, which is an economic indicator, shows that the economy is slowing down. In the first half of 2012 (January to June), the order value for the first half of the year fell for the first time in three years. In addition to the significant reduction in orders to China, the slowdown in equipment investment due to the European debt crisis and the decline in international competitiveness due to the appreciation of the yen are also important reasons. The Japan Machine Tool Industry Association announced on July 18 that machine tool orders in the first half of 2012 were 636.44 billion yen, a year-on-year decrease of 5.6%. Another decline since the Lehman crisis. External demand, which accounted for 70% of orders, decreased by 6.3% to 436.789 billion yen, a sharp decline. In particular, China, the world's largest machine tool demander, decreased by 8.8%, resulting in an overall decline. China's demand for automobiles, aircraft, shipbuilding, and transportation machinery has dropped by 20%. Motohiko Yokoyama, president of the Japan Machine Tool Industry Association, said, 'The pace of equipment investment has slowed down slightly, and the record high set last year has been adjusted.' The appreciation of the yen also had a certain impact. The Japan Machine Tool Industry Association said that not only in Europe, but also in China, 'with the appreciation of the yen and the depreciation of the euro, orders are flowing to German companies, etc.'. Makino Jiro, president of Makino Milling Machine Works, said, 'According to sales estimates, it will decrease by about 20%.' Domestic demand in Japan also fell by 4% to 199.651 billion yen. Although automobiles increased year-on-year, electrical equipment and precision machinery decreased by 20%. Whether it can reach 100 billion yen per month is the standard for measuring the market situation, and it has exceeded this standard for five consecutive months since February. Because of this, the order volume for the whole year remained at 1.2 trillion yen as originally estimated.
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