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Sales Shortfall Is Widespread Among Japanese Builders.

Japan's fiscal year ends March 31, and annual figures now in show how widespread the sales decline has been. A survey of nine major machine-tool producers recorded that orders declined 20% from the previous fiscal year. The company numbers correspond with statistics generated by JMTBA.

Okuma Corp. recorded sales that were 27% lower than the previous year. Mori Seiki Co.'s orders fell 10%.

The survey, reported by AsiaPulse, said companies blamed reduced capital spending by the Japanese automotive industry as a major contributor to the shortfall. Also exports suffered due to the strong yen.

 But eight of the nine companies reported orders in March were higher than
 last year.

News roundup.
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Publication:Metalworking Insiders' Report
Date:Apr 15, 2000
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