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Results of Quarterly Survey of Overseas Subsidiaries Compiled (January-March in 2020)

June 26, 2020

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 in overseas countries, and releasing the results. METI hereby announces that it has compiled the survey results for the period of January-March 2020.

The total sales of overseas subsidiaries of Japanese companies from January to March 2020 (in US dollar values) declined from the previous year, showing a decrease for five consecutive quarters.

1. Summary of the survey results

  1. Sales
    The total sales of overseas subsidiaries declined by 11.5% from the previous year, a decrease for five consecutive quarters.
    Looking at 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 48.3%, declined by 13.8% from the previous year, a decrease for five consecutive quarters. In particular, sales in the transportation equipment industry decreased.
    Sales in North America (composition ratio: 31.2%) declined by 7.2% from the previous year, a decrease for two consecutive quarters, in particular, sales in the transportation equipment industry decreased. Sales in Europe (composition ratio: 12.8%) also declined by 10.9% from the previous year, a decrease for seven consecutive quarters.

  2. Amount of capital investment
    The total amount of capital investment by overseas subsidiaries declined by 18.3% from the previous year, a decrease for two consecutive quarters.
    Looking at capital investment by region, that in Asia, the region with the highest composition ratio of the overseas subsidiaries at 51.1%, declined by 21.3%, a decrease for two consecutive quarters. In particular, capital investment in the transportation equipment industry declined.
    Capital investment in North America (composition ratio: 29.8%) declined by 12.3% from the previous year, a decrease for the first time in three quarters, and that in Europe (composition ratio: 12.7%) also declined by 7.5% from the previous year, a decrease for two consecutive quarters.

  3. Number of employees
    The total number of employees in overseas subsidiaries declined by 2.4% from the previous year, a decrease for four 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 68.4%, declined by 3.0%, a decrease for four consecutive quarters. In particular, employees in the electrical machinery industry declined.
    The number of employees in North America (composition ratio: 13.9%) declined by 1.3% from the previous year, a decrease for the first time in 35 quarters, and those in Europe (composition ratio: 10.0%) also declined by 0.8% from the previous year, a decrease for the first time in two quarters.

2. Announcement of the website

The documents concerning the results of the survey are available on and downloadable from the following website.

Related Documents

Division in Charge

Enterprise Statistics Office, Research and Statistics Department