According to "Nikkei Business News" reported on July 20, Japanese machine tool orders are continuing to grow at a rate exceeding expectations. The cumulative value of orders (determined value) issued by the Japan Machine Tool Industry Association on July 19, 2018 to January 1986 reached 964 billion yen, a year-on-year increase of 26.1%, a record high for two consecutive months. The president of the association, Ichimura, is expected to raise the annual order expectations. The replacement of smart phones by cars has become a driving factor, pushing up the overall level. At the press conference held in Tokyo, regarding the annual order expectations, Imura clearly stated that “the possibility of upward adjustment is very highâ€. The annual order amount announced in early 2018 is expected to be 1.7 trillion yen. This is already an optimistic expectation of a record high for two consecutive years, but actual orders are still growing at a much higher rate than this figure. In the cumulative order amount from January to June, external demand increased by 21.6% to reach 580.3 billion yen. China, which accounts for 30% of total external demand, grew 7.2% to reach 182.8 billion yen, showing strong performance. Orders related to electronic product foundry services such as smartphones that were “buy-buy†in 2017 have slowed sharply, but orders for cars have increased, and overall growth has been achieved. In addition, orders for China in June decreased overall by 7.7%, but other regions except China have shown good momentum. North America grew by 30.9% to reach 162 billion yen, a record high. Europe grew by 29.6% to 124.5 billion yen, setting the highest amount since the Lehman crisis.
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