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Results of Quarterly Survey of Overseas Subsidiaries Compiled (October - December 2021)

Subsidiaries' sales increased by 2.8%, representing increases in a wide range of industries except for some businesses affected by semiconductor shortages

Japanese

March 25, 2022

Others

The Ministry of Economy, Trade and Industry (METI) surveys Japanese companies' overseas subsidiaries in the manufacturing industry on their business activities abroad. It does so in order to understand the international development and overseas business conditions of Japanese companies, and it publishes them quarterly. METI hereby announces that it has compiled the survey results for the period of October - December 2021.
Japanese companies' overseas subsidiaries' sales (from Oct. to Dec. 2021, in dollars) increased by 2.8% from the previous year, going up for the fifth consecutive quarter. This increase was seen in all industries—including chemical, general-purpose machinery, and steel—with the exception of the transportation equipment industry. Core transportation equipment sales decreased in North America, Europe, and other locations due to semiconductor shortages but increased in the 10 ASEAN member states.

1. Summary of the Results

(1) Sales

Overseas subsidiaries' total sales increased by 2.8% from the previous year, representing a fifth consecutive quarter of increase.
Looking at overseas subsidiaries' sales by region (North America, Asia, and Europe), those in Asia—the region with the highest overseas subsidiary composition ratio at 56.9%—increased by 6.9% from the previous year, due to sales in transportation equipment and other items in the 10 ASEAN countries increasing. Sales in Asia have increased for five consecutive quarters. Meanwhile, sales in North America (24.7% composition ratio) declined by 5.0%, representing a second consecutive quarter of decrease, due to factors such as decreases in transportation equipment sales; and sales in Europe (11.2% composition ratio) declined by 3.8%, which is the first decrease in four quarters.

(2) Capital investment amounts

Capital investment amounts (total of all regions) increased by 10.1% from the previous year, representing a third consecutive quarter of increase. In particular, capital investment in China increased in the transportation equipment industry.
Looking at each region, capital investment in Asia (54.8% composition ratio) increased by 25.1% from the previous year, representing a fourth consecutive quarter of increase. That of North America (27.6% composition ratio) decreased by 3.5%, its first decrease in three quarters; and that in Europe (12.1% composition ratio) increased by 10.2%, increasing for the third consecutive quarter.

(3) Number of employees

The total number of overseas subsidiaries' employees decreased by 0.9% from the previous year, which is the first decrease in three quarters. Particularly in China, employment decreased in the electrical machinery industry.
Looking at each region, employee numbers in Asia (68.4% composition ratio) decreased by 0.5% from the previous year, which is the first decrease in three quarters. In North America (13.7% composition ratio), employee numbers declined by 2.0%, decreasing for the eighth consecutive quarter; and in Europe (9.7% composition ratio) numbers declined by 2.8%, also decreasing for the eighth consecutive quarter.

2. Website Information

You can view and download the materials from this survey at this URL.

Related materials

Quarterly Survey of Overseas Subsidiaries: Summary of the Results
[Reference] Situations of Subsidiaries in Major Economies (North America, China, Europe, ASEAN) from the Quarterly Survey of Overseas Subsidiaries

Division in Charge

Enterprise Statistics Office, Research and Statistics Department