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Results of Quarterly Survey of Overseas Subsidiaries Compiled (April-June in 2020)

September 25, 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 overseas, and releasing the results. METI hereby announces that it has compiled the survey results for the period of April-June 2020.

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

1. Summary of the survey results

(1) Sales

The total sales of overseas subsidiaries declined by 32.2% from the previous year, a decrease for six consecutive 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 overseas subsidiaries at 55.9%, declined by 24.1% from the previous year, a decrease for six consecutive quarters. The decrease was particularly marked in the transportation equipment industry.

Sales in North America (composition ratio: 26.1%) declined by 42.4% from the previous year, a decrease for three consecutive quarters. Transportation equipment industry sales saw a marked decrease. Sales in Europe (composition ratio: 12.2%) also declined by 31.0% from the previous year, a decrease for eight consecutive quarters.

(2) Amount of capital investment

The total amount of capital investment by overseas subsidiaries declined by 26.7% from the previous year, a decrease for three consecutive quarters.

Looking at capital investment by region, Asia, the region with the highest composition ratio of the overseas subsidiaries at 50.9%, declined by 32.3%, a decrease for three consecutive quarters. In particular, capital investment in the transportation equipment industry was strongly affected.

Capital investment in North America (composition ratio: 30.1%) declined by 15.7% from the previous year, a decrease for two consecutive quarters, and in Europe (composition ratio: 11.9%) also declined by 27.2% from the previous year, a decrease for three consecutive quarters.

(3) Number of employees

The total number of employees in overseas subsidiaries declined by 4.8% from the previous year, a decrease for five consecutive quarters.

Looking at the number of employees by region, Asia, the region with the highest composition ratio of overseas subsidiaries at 68.3%, declined by 5.5%, a decrease for five consecutive quarters. In particular, employees in the transportation equipment and electrical machinery industries were affected.

The number of employees in North America (composition ratio: 13.9%) declined by 4.9% from the previous year, a decrease for two consecutive quarters, and Europe (composition ratio: 10.1%) also declined by 1.6% from the previous year, a decrease for two consecutive quarters.

2. Announcement on the website

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

Division in Charge

Enterprise Statistics Office, Research and Statistics Department