Machine Tool Orders Soar 32% In April Despite Quake
Post Date: 16 May 2011 Viewed: 557
QuakeTOKYO (Nikkei)--Machine tool orders grew 32.3% on the year to 106.9 billion yen for April, according to preliminary data released Thursday by the Japan Machine Tool Builders' Association.
The figure rose for the 17th month in a row and exceeded 100 billion yen for the fourth straight month, dispelling concerns that the appetite to invest would weaken following the March 11 disaster.
Orders from abroad were strong at 73.4 billion yen, despite dipping 9.8% from March, when they spiked ahead of the fiscal year-end. Many orders were placed by autoparts firms in North America and construction equipment manufacturers in China. Overseas orders accounted for 68% of the total.
Orders from domestic businesses rose 50.6% on the year and 4.3% on the month, to 33.4 billion yen. Demand from component suppliers to the automobile and construction machinery sectors was particularly strong, the trade group said.