The Japan Machine Tool Builders' Association (JMTBA) has reported that global orders for Japanese machine tools in June 2024 totaled 133.82 billion yen (US$909.95 million), a 7.5% increase from the previous month. This is the second consecutive month of growth and represents a 9.7% year-on-year increase.

While the association noted an upward trend in June orders, it also cautioned that the growth was concentrated in specific regions and that the future outlook should be closely monitored for a full recovery in orders.

Domestic (in Japan) orders in June 2024 reached 40.81 billion yen (US$277.51 million) in June 2024, representing a 17.1% month-on-month increase. However, on a year-on-year basis, domestic orders declined by 0.1% for the 22nd consecutive month. A breakdown by industry, compared to May, showed a 19.8% increase in the automotive industry, a 14.7% increase in the industrial machinery, a 9.2% decrease in the electronics and precision industry, and a 34.1% increase in the aircraft, shipbuilding, and transportation equipment industry.

Overseas orders in June 2024 reached 93.01 billion yen (US$632.44 million), up 3.7% from the previous month and 14.6% year-on-year, marking the second consecutive month of growth. A regional breakdown is as follows:

• Asia recorded orders of 47.00 billion yen (US$319.58 million), a 10.3% increase from May 2024.
  • China's orders amounted to 31.70 billion yen (US$215.53 million), a 13.2% increase.
  • India's orders amounted to 4.65 billion yen (US$31.65 million), a 10.9% increase.
  • Thailand had a total of 2.56 billion yen ($17.41 million) in orders, showing a 17.2% increase.
• Europe saw orders of 17.30 billion yen ($117.65 million), marking a 0.2% increase.
• North America, including Canada and Mexico, had orders of 23.60 billion yen ($160.49 million), a 14.6% decrease.
  • United States with orders totalling 21.39 billion yen (US$145.47 million), a 9.4% decrease.

Read more: Japan Machine Tool Orders: May 2024