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Japan’s Asahi Shimbun reported on the 22nd that the Japan Machine Tool Industry Association compiled information based on the findings of the US market research firm Gartner. According to reports, last year's Japanese machine tool production was only 5.888 billion US dollars, a sharp decrease of 56.5% over the previous year.
Some analysts believe that this is because domestic demand and exports have been reduced due to the global economic recession and the appreciation of the yen, which has led Japanese manufacturers to reduce equipment investment. On the other hand, with the help of the government's economic support policy, China's machine tool production has increased substantially. The production of machine tools in China increased by 8.9% from the previous year to reach US$10.95 billion, nearly double that of Japan.
It is understood that Japan is not only behind China, but also behind Germany, ranking down to third place. In 2009, the production of machine tools in Germany decreased by 35.2% from the previous year to reach US$7.812 billion. "Mechanical Power" Japan has consistently ranked first in the world after it topped the US in 1982.
The outlook for the Japanese machine tool industry is not clear this year. According to "Nikkei Business News" reported that in January this year, Japan's mining industry production index (based on 2005 100) was 92.1, which continued to rise for 11 consecutive months, but peaked before the economic crisis (February 2008) In comparison, the degree of recovery only stays at 84%.
Japan’s “Machinery Power†Throne to China
According to the Korean Daily Chinese website, there has been a symbolic reversal between Japan and China. The production of Japanese machine tools, which ranked first in the past 27 years, was overtaken by China. The machine tool industry that processes metal parts is the basic industry of all manufacturing industries. It is also the "housekeeping stunt" that Japan has been proud to say "even if the assembly industry may be chased and the machinery industry will not be surpassed." Production is often seen as a leading indicator of equipment investment.