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Quarterly Survey of Overseas Subsidiaries Results (January-March 2019)

June 26, 2019

The Ministry of Economy, Trade and Industry (METI) has been conducting a Survey of Overseas Subsidiaries on a quarterly basis, aiming to ascertain the business development and conditions of Japanese companies overseas, and releasing the results. METI hereby announces that it has compiled the survey results for the period of January-March 2019.

The total sales of overseas subsidiaries of Japanese companies from January to March 2019 (in US dollar values) has declined from the previous year, showing a decrease for the first time in 12 quarters.

1. Summary of the results

(1) Sales

The total sales of overseas subsidiaries declined by 3.0% from the previous year, a decrease for the first time in 12 quarters.

Looking at the sales of overseas subsidiaries by region (North America, Asia, and Europe), those in Asia, the region with the highest composition ratio of the overseas subsidiaries at 49.1%, declined by 3.1% from the previous year, a decrease for the first time in 12 quarters. In particular, sales in the electrical machinery industry decreased.

Sales in North America (composition ratio: 30.4%) declined by 2.0% from the previous year, a decrease for the first time in 6 quarters, and those in Europe (composition ratio: 12.4%) also declined by 5.5% from the previous year, a decrease for three consecutive quarters.

(2) Amount of capital investment

The total amount of capital investment by overseas subsidiaries improved by 5.4% from the previous year, an increase for five consecutive quarters.

Looking at the capital investment by region, in Asia, the region with the highest composition ratio of the overseas subsidiaries at 53.1%, saw an increase of 11.2% from the previous year, marking growth for six consecutive quarters now. The transportation equipment industry saw particularly strong growth.

Capital investment in North America (composition ratio: 28.7%) declined by 2.0% from the previous year, a decrease for the first time in two quarters, and that in Europe (composition ratio: 10.6%) also declined by 6.8% from the previous year, a decrease for two consecutive quarters.

(3) Number of employees

The total number of employees in overseas subsidiaries improved by 0.8% from the previous year, an increase for 10 consecutive quarters.

Looking at the number of employees by region, those in Asia, the region with the highest composition ratio of the overseas subsidiaries at 68.5%, improved by 0.4% from the previous year, an increase for 10 consecutive quarters. In particular, employees in the transportation equipment industry rose.

The number of employees in North America (composition ratio: 13.8%) improved by 1.3% from the previous year, an increase for 31 consecutive quarters, while that in Europe (composition ratio: 9.7%) also improved by 2.6% from the previous year, an increase for 23 consecutive quarters.

2. Announcement of the website

For the documents concerning the results of the survey, visit the following website for downloading.

Division in Charge

Enterprise Statistics Office, Research and Statistics Department