Machine tool orders fall 6.7% in October
Post Date: 29 Nov 2012 Viewed: 345
Machine tool orders received by manufacturers in October dropped 6.7 percent from a year earlier to 94.31 billion yen, the smallest monthly total so far this year, the Japan Machine Tool Builders' Association has reported.
Machine tool orders usually dip in October after a seasonal rise in demand the previous month as many firms close their books.
In addition, firms this year apparently held back orders ahead of the Japan International Machine Tool Fair in early November, association officials said Monday. Slowing demand at home as well as in other parts of Asia and Europe also dented the orders.
Motohiko Yokoyama, chairman of the association and JTekt Corp., said at a press conference he is worried about a prolonged slump in sales of Japanese vehicles in China negatively affecting capital investment plans for the country by automakers and their suppliers.