According to JMTBA (Japan Machine Tool Builders’s Association), the total value of Japanese machine tool orders in April was 56.14 billion yen (about $523 million). This was 27.5% lower than the March total and 48.3% lower than the April 2019 total, and it marked the 19th consecutive month of year-on-year decline. It was also the first monthly total below 60 billion yen for 10 years.
JMTBA said: “The impact of the spread of COVID-19 world-wide is gaining momentum and is pushing down orders. There are concerns over the impact on both domestic and overseas markets, and we would like to closely monitor these situations. Domestic orders fell by 38.2% from March, amounting to 21.15 billion yen.
“Furthermore, this figure was a fall of 51.4% from April 2019, and it marked the 17th consecutive month of year-on-year decline. Looking at major industries, orders compared to March fell by 40.1% in industrial machinery, by 35.0% in motor vehicles, by 28.3% in electrical and precision machinery, and by 65.1% in aircraft, shipbuilding and transport equipment.”
It went on to say that foreign orders fell by 19.0% from March to 34.99 billion yen, marking the fourth consecutive month-on-month decline. Likewise, foreign orders showed a fall of 46.3% from April 2019, marking the 19th consecutive month of year-on-year decline.
By region, orders from Asia fell by 7.4% from March to 17.68 billion yen (a fall of 35.4% from April 2019). Orders from Europe fell by 25.7% from March to 5.35 billion yen (a fall of 66.7% from April 2019), while orders from North America fell by 27.2% from March, amounting to 11.78 billion yen.