Industrial Machinery Orders To Rise 4.4% In FY13

TOKYO (NQN)--Orders for industrial machinery from domestic and foreign clients for fiscal 2013 are expected to rise 4.4% from the current fiscal 2012 estimate to 5.17 trillion yen, the Japan Society of Industrial Machinery Manufacturers said Thursday.

Orders from domestic customers will likely rise 3% to 2.87 trillion yen, because manufacturers will probably invest in line with the decline of the yen.

Japanese companies will also promote investments in innovative energy-saving facilities. Demand for projects to rebuild areas destroyed by the Great East Japan Earthquake in 2011, as well as measures to repair aging infrastructure, will also support an increase in machinery orders.

Orders from overseas clients will likely hit 2.3 trillion yen, up 6.3%. This is because demand for infrastructure in emerging markets will continue to push up machinery orders, although competition from European and U.S. firms is intensifying.

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