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- Results of Quarterly Survey of Overseas Subsidiaries Compiled (April - June 2023)
Results of Quarterly Survey of Overseas Subsidiaries Compiled (April - June 2023)
Subsidiaries' sales increased by 3.0%, showing an increase for the first time in three quarters, and sales of transportation equipment in North America increased by 31.8%
September 27, 2023
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 ascertain the international development and overseas business conditions of Japanese companies, and it publishes them quarterly. METI has now compiled the survey results for the period of April to June 2023.
The total sales of overseas subsidiaries of Japanese companies from April to June 2023 (in US dollar values) increased by 3.0% year-on-year, the first increase in three quarters. While a decrease in sales was seen in Asia for three consecutive quarters, an increase of 16.6% year-on-year was seen in North America, showing an increase for 4 consecutive quarters.
1. Summary of the results
(1) Sales
Overseas subsidiaries’ total sales in all regions improved by 3.0% year-on-year, the first increase in three quarters. Sales of chemicals and electrical machinery decreased, while those of transport equipment increased.
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 46.8%––decreased by 6.0% year-on-year, a decrease for three consecutive quarters, due to a decrease in transport equipment in China. Sales in North America (composition ratio: 31.9%) improved by 16.6% year-on-year, an increase for four consecutive quarters, due to an increase in transport equipment, while sales in Europe (composition ratio: 11.6%) also improved by 7.0% year-on-year, an increase for two consecutive quarters.
(2) Capital investment amount
The total capital investment in all regions declined by 12.3% year-on-year, a decrease for the first time in five quarters. Capital investment in electrical machinery increased, while that in transport equipment decreased.
Looking at each region, capital investment in Asia (composition ratio: 47.4%) decreased by 7.7% year-on-year, the first downturn in four quarters. Capital investment in North America (composition ratio: 33.2%) declined by 25.6% year-on-year, a decrease for two consecutive quarters, while that in Europe (composition ratio: 11.9%) improved by 9.7% year-on-year, an increase for the first time in five quarters.
(3) Number of employees
The total number of employees in overseas subsidiaries in all regions declined by 1.0% year-on-year, a decrease for three consecutive quarters. The number of employees in transport equipment improved, while that in electrical machinery and general-purpose machinery declined.
Looking at each region, the number of employees in Asia (composition ratio: 66.6%), decreased by 2.9% year-on-year, a decrease for three consecutive quarters. The number of employees in North America (composition ratio: 14.6%) increased by 4.4% year-on-year, an increase for 6 consecutive quarters, while that in Europe (composition ratio: 9.9%) also increased by 0.3% year-on-year, an increase for two consecutive quarters.
2. Website information
Division in Charge
Structural and Enterprise Statistics Office, Research and Statistics Department, Minister’s Secretariat