According to the preliminary data of the latest machine tool orders announced by the Japan Machine Tool Industry Association (JMTBA), in October 2011, the order value of Japanese machine tools was 101.016 billion yen, a decrease of 8.6% from the previous month, but still increased by 25.9%. In the middle of January to October, the order value of Japanese machine tools exceeded 100 billion yen in nine months, and fell to less than 100 billion yen in August alone. From January to October 2011, the cumulative machine tool order in Japan was 1.098 trillion yen, an increase of 40.2% over the same period in 2010. The order volume exceeded the trillion yen mark.
From the domestic and international demand, in October, Japan's domestic machine tool orders amounted to 31.704 billion yen, down 10.7% from the previous month, but up 25% year-on-year. In October, the number of orders for Japanese overseas machine tools was 69.31 billion yen, a decrease of 7.6% from the previous month, but an increase of 26.3%. From January to October, the cumulative domestic orders for Japanese machine tools were 348.095 billion yen, up 42.2% year-on-year; the cumulative overseas orders were 749.608 billion yen, up 39.3% year-on-year.
According to JMTBA forecast, the orders for Japanese machine tools in 2011 are expected to reach 1.3 trillion yen, an increase of about 30% compared with 2010. If this goal is achieved, Japan's machine tool orders will basically return to the 2008 level. Recently, orders from China have decreased, but orders from Europe and the United States have continued to grow for 21 consecutive months, and equipment investment plans for auto and machinery companies in Europe and the United States have maintained a slow growth trend. At the same time, due to the floods in Thailand, some of the machine tools in Thai companies need to be replaced or repaired. After the situation is stable, the demand for machine tools and accessories will soar.
According to Japanese machine tool industry insiders, the appreciation of the yen has affected the competitiveness of Japanese machine tool manufacturers overseas. Japanese companies that have transferred their production bases to Asia have purchased Chinese and Taiwanese machine tools that are 2 to 50% cheaper than those made in Japan. In order to adapt to this change, Japanese machine tool manufacturers are forced to strengthen production and sales overseas, especially in Asia. Makino Milling Machine, OKK, and Fenghe Industries respectively started production in Singapore, Thailand and China to expand production capacity. The outlook for the Japanese machine tool industry is still uncertain.
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