Japan Machine Tool Builders' Association (JMTBA) reported on Monday its
preliminary estimates showed that the country's machine tool orders advanced 1.0
percent y-o-y in December 2022, following a 7.8 percent y-o-y plunge in November.
That marked the first annual increase in machine tool orders in three months.
According to the report, the total value of machine tool orders in December
was JPY140.579 billion, which was up 4.8 percent from November’s reading of
JPY134.186 billion, reflecting a recovery in demand from overseas.
In December, domestic orders amounted to JPY42.315 billion (-7.3 percent
m-o-m and -17.3 percent y-o-y), while foreign orders totaled JPY98.264 billion
(+11.0 percent m-o-m and +11.6 percent y-o-y).
Over 2022, the Japanese machine tool orders climbed
by 14.2 percent y-o-y to JPY1.760 trillion, underpinned by an 18.2 percent y-o-y
jump in domestic orders and a 12.1 percent y-o-y soar in foreign orders.