Industrial Machinery Market Overview in Japan
As in consumer electronics industry Japanese companies such as Sony, Panasonic and Sharp are not doing well recently, while other machinery industries such as automotive, construction machines, medical devices, factory automation, plant engineering,etc. have been growing steadily by expanding their business to all over the world.
Actually, Japan experienced a serious economic recession from 2008 to 2012 by the effect of financial crisis, devastating earth quake and too strong Yen. However, Japan economy, the 3rd largest in the world, is recovering now, especially in the industries mentioned above.
In addition, Companies in such industries, namely Japanese manufacturers, usually prefer to have a centralized decision making system. In this hierarchical operation, a subsidiary in another country usually does not utilize foreign products without the headquarters’ approval, especially if they are essential to their business, such as key components or core manufacturing equipment.
If you are a supplier of components, parts, and machine tools, looking to expand your business with large Japanese manufacturers operating globally, you need to prove your ability in the Japanese market, which requires their suppliers the strictest quality control.