日本机床4月订单增8％，中国需求有望增长

Core Viewpoint - Many companies in the machine tool and robotics sectors expect to achieve both revenue and profit growth in the fiscal year 2025, despite risks from tariffs imposed by the Trump administration, which may slow equipment investment. The prevailing view is that a recovery in demand from China and the semiconductor sector can offset these risks [1][2]. Group 1: Machine Tool Orders and Market Trends - In April, Japan's machine tool orders increased by 8% year-on-year, reaching 130.2 billion yen, marking seven consecutive months of growth [1]. - Domestic orders in Japan decreased by 5% to 34.4 billion yen, while overseas orders rose by 13% to 95.7 billion yen [1]. - Manufacturers generally believe that factory investments will remain robust, despite weaker equipment investment from small and medium-sized enterprises in Japan [1]. Group 2: Company-Specific Insights - Makino Milling Machine Co. anticipates a decrease in consolidated sales by 11.3 billion yen and operating profit by 2.1 billion yen due to yen appreciation, but expects to achieve record-high sales and operating profit for the fiscal year [1]. - Okuma Corporation expects both sales and operating profit to grow for the first time in two fiscal years, driven by strong demand in the aerospace and semiconductor sectors [2]. - SMC, a factory automation component company, estimates that tariffs and exchange rates will negatively impact sales by 55 billion yen and operating profit by 29.6 billion yen, yet plans to achieve revenue and profit growth due to investments from Chinese manufacturers [2]. - Misumi Group anticipates a decline in both revenue and profit, citing tariffs and yen appreciation as key factors [2]. Group 3: Industry Outlook and Risks - The semiconductor and Chinese market demand is believed to have bottomed out, with expectations for a comprehensive recovery in the factory automation industry by 2025, surpassing concerns over tariffs [2]. - Fanuc, a robotics company, has not disclosed performance expectations due to the unpredictable impact of U.S. tariffs, indicating a potential for increased production in the U.S. as a future option [3]. - Companies expecting revenue and profit growth must prepare for sudden changes in the business environment [4].