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Results of Quarterly Survey of Overseas Subsidiaries Compiled (July-September 2023)

Subsidiaries' sales decreased by 0.6%, showing a decline for the fist time in two quarters, while sales in China decreased by 21.3%, a decrease for four consecutive quarters

Japanese

December 27, 2023

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 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 July to September 2023.

The total sales of overseas subsidiaries of Japanese companies from July to September 2023 (in US dollar values) decreased by 0.6% year-on-year, a decrease for the first time in two quarters. While an increase in sales was seen in North America for five consecutive quarters, a decrease was seen in Asia for four consecutive quarters. In particular, sales in China decreased by 21.3% year-on-year, showing a decrease for four consecutive quarters.

1. Summary of the results

(1) Sales

Overseas subsidiaries’ total sales in all regions declined by 0.6% year-on-year, a decrease for the first time in two quarters. Sales of electrical machinery and chemicals 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 47.3%—decreased by 10.7% year-on-year, a decrease for four consecutive quarters, due largely to a decrease in all industries in China, including transport equipment. Sales in North America (composition ratio: 30.8%) improved by 10.4% year-on-year, an increase for five consecutive quarters, due to an increase in transport equipment, while sales in Europe (composition ratio: 10.6%) also improved by 10.2% year-on-year, an increase for three consecutive quarters.

(2) Capital investment amount

The total capital investment in all regions declined by 10.0% year-on-year, a decrease for two consecutive quarters. Capital investment in chemicals increased, while that in transport equipment decreased.

Looking at each region, capital investment in Asia (composition ratio: 46.0%) decreased by 8.6% year-on-year, a downturn for two consecutive quarters. Capital investment in North America (composition ratio: 33.4%) declined by 30.0% year-on-year, a decrease for three consecutive quarters, while that in Europe (composition ratio: 12.5%) improved by 30.0% year-on-year, an increase for two consecutive quarters.

(3) Number of employees

The total number of employees in overseas subsidiaries in all regions declined by 2.4% year-on-year, a decrease for four 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: 66.3%) decreased by 4.6% year-on-year, a decrease for four consecutive quarters. The number of employees in North America (composition ratio: 14.7%) increased by 1.8% year-on-year, an increase for 7 consecutive quarters, while that in Europe (composition ratio: 10.0%) decreased by 0.1% year-on-year, a decrease for the first time in three quarters.

2. Website information

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

 

Division in Charge

Structural and Enterprise Statistics Office, Research and Statistics Department, Minister’s Secretariat