Over Half of Japanese Companies in China Report Declining Sales

TOKYO, May 15 (News On Japan) - The Japan Chamber of Commerce and Industry in China has released the results of a survey targeting Japanese companies operating in China, revealing that over half of them report worsening sales trends.

On May 14, the Japan Chamber of Commerce and Industry in China announced the results of the "Economic and Business Environment Survey" conducted from March to April.

This was the third survey conducted, following the previous one at the end of last year, targeting approximately 8,000 Japanese companies in China and receiving 1,741 responses.

Regarding sales trends, 56% of respondents reported "decline" or "slight decline," a 9-point increase from the previous survey. Particularly, companies related to the automobile sector, facing intensified price competition in new energy vehicles, reported a significant increase from 30% to 72% in sales decline compared to the previous survey.

For this year's forecast of the Chinese market, 50% of companies responded with "deterioration" or "slight deterioration," an 11-point increase from the previous survey.

On the other hand, the percentage of companies reporting plans to "reduce investment" or "not invest this year" decreased by 4 points to 44%, showing a slight improvement.

Among the companies that reported reducing investment, some indicated plans to continue investing in research and development and human resource development, highlighting their strategic foresight.

Tetsuro Honma, Chairman of the Japan Chamber of Commerce and Industry in China, analyzed, "Many companies are taking preemptive measures to survive," and emphasized, "We will continue to urge the Chinese side to improve the business environment."

Source: ANN

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