Japanese machine tools battle in China

According to reports from Japanese media, the Japan Machine Tool Industry Association announced that Japan's machine tool orders for August 2012 were 96.3 billion yen (about 12.3758 billion U.S. dollars), a decrease of 2.6% year-on-year, and it has been lower than the same month last year for four consecutive months. For the first time in seven months in August, the machine tool orders fell below the benchmark 100 billion yen (about US$12,851.13 million) that determines whether the demand for orders is strong. In addition, the issue of anti-Japanese sentiment triggered by the ownership issue of Diaoyu Island was mentioned. The impact of this incident has already affected the sales of Japanese machine tools.

According to the China Machine Tool Network (Machine35.com), domestic orders in August were 29.4 billion yen (approximately 377.83 million US dollars), a decrease of 21.6% year-on-year. The amount of overseas orders was 66.8 billion yen (approximately 8.5847 billion U.S. dollars), an increase of 9.0% over the same period of last year. It was the first time in eight months that it has grown to growth.