Observing Sino-Japanese Trade Trends at Japan's Largest Industrial Exhibition
Duration:
Jun 19 - Jul 31, 2024
Location:
Japan
Manufacturing Japan, held annually in Tokyo, Osaka, Nagoya, and Fukuoka in Kyushu, encompasses Japan's four major industrial zones and is a representative manufacturing trade fair in Japan with a history of more than 30 years. From June 19-21, the Japan Industrial Exhibition was grandly held at the Tokyo Big Sight International Exhibition Center, attracting more than 1,990 exhibitors and over 72,000 visitors. Among them, approximately 240 Chinese exhibitors were present, including Made-in-China.com making its appearance at the event.
3D Printing Draws Attention on Site
The exhibition consisted of 10 specialized thematic exhibitions, ranging from mechanical components to 3D printers, DX products, and energy-saving equipment, allowing visitors to see all products related to manufacturing at one time. Various 3D printing technologies on display garnered significant attention, with some 3D printers capable of creating objects with different degrees of softness and hardness in the same item. For example, a model whose upper part is very soft to the touch, while the lower part is very hard. With such technology, it is possible to produce items like helmets, insoles, car seats, and mattresses. In addition to these everyday items, parts for automobiles and bullet trains can now be produced through 3D printing technology, which has already been put into official use, with some beginning to be mass-produced. There were also some Japanese customers consulting with Chinese enterprises at the exhibition, who generally believed that Chinese companies offer fast production, cost-effective products, and strong capabilities in meeting customization needs, expressing high satisfaction. Additionally, some customers indicated their hopes to further strengthen cooperation with Chinese enterprises through the exhibition.
Exchange Rate Plummets, Export Concerns to Japan
Due to the continued low state of the yen, Japan's exports have achieved their largest increase since the end of 2022. Data released by Japan's Ministry of Finance on June 19 showed that the country's exports in May increased by 13.5% from the same period last year, marking the sixth consecutive month of growth. This increase exceeded the general economic forecast of 12.7% and was the largest increase since November 2022. Economists had previously expected imports to grow by 10.4%, however, Japan's commodity imports in May fell to 9.5%. The continuously falling exchange rate has caused many Japanese buyers to hesitate over Chinese products, shifting their attention to the lower-cost Vietnamese market.
The Stable Market Requires Patient Cultivation
According to feedback from Chinese exhibitors on-site, penetrating the Japanese market places emphasis on quality, and the initial development requires a certain amount of time and patience. Especially in Tokyo, customers are very cautious when selecting suppliers, and it may even take several years of continuous testing and inspection before finally placing an order. However, once they start cooperating, they won't easily change suppliers. The loyalty and persistence of the customers are quite good, making it a relatively stable market worth cultivating. Made-in-China.com received hundreds of local buyers at the exhibition, and after communication, summarized the following three suggestions:
(1) Japanese people always plan everything. If something unexpected happens, they will be flustered. Most exhibitors also have a habit of planning in advance. By using the official website directory, they can plan their target booths in advance, which leads to efficient exhibition participation. Therefore, it is suggested that all exhibitors fill out their directory carefully, and consider placing advertisements in the exhibitor's directory or on the map.
(2) Younger visitors who come to the exhibition are likely company staff. They need to report to the company in advance when visiting booths and their exhibition time is relatively short. They generally won't stay at unplanned booths. Older visitors may have decision-making power and are more willing to linger, so it is recommended to seize such visitors.
(3)Many Japanese people have never heard of WhatsApp. The general communication apps in Japan are LINE for personal use, and Google chat or Teams for business use.
Currently, Made-in-China.com has more than 20 million global buyers, with an annual website traffic exceeding 2.3 billion visits. As China's leading cross-border e-commerce platform, Made-in-China.com has always been committed to providing more overseas display and trading opportunities for Chinese small and medium-sized enterprises, helping them to open up international markets and tap into overseas business opportunities!
3D Printing Draws Attention on Site
The exhibition consisted of 10 specialized thematic exhibitions, ranging from mechanical components to 3D printers, DX products, and energy-saving equipment, allowing visitors to see all products related to manufacturing at one time. Various 3D printing technologies on display garnered significant attention, with some 3D printers capable of creating objects with different degrees of softness and hardness in the same item. For example, a model whose upper part is very soft to the touch, while the lower part is very hard. With such technology, it is possible to produce items like helmets, insoles, car seats, and mattresses. In addition to these everyday items, parts for automobiles and bullet trains can now be produced through 3D printing technology, which has already been put into official use, with some beginning to be mass-produced. There were also some Japanese customers consulting with Chinese enterprises at the exhibition, who generally believed that Chinese companies offer fast production, cost-effective products, and strong capabilities in meeting customization needs, expressing high satisfaction. Additionally, some customers indicated their hopes to further strengthen cooperation with Chinese enterprises through the exhibition.
Exchange Rate Plummets, Export Concerns to Japan
Due to the continued low state of the yen, Japan's exports have achieved their largest increase since the end of 2022. Data released by Japan's Ministry of Finance on June 19 showed that the country's exports in May increased by 13.5% from the same period last year, marking the sixth consecutive month of growth. This increase exceeded the general economic forecast of 12.7% and was the largest increase since November 2022. Economists had previously expected imports to grow by 10.4%, however, Japan's commodity imports in May fell to 9.5%. The continuously falling exchange rate has caused many Japanese buyers to hesitate over Chinese products, shifting their attention to the lower-cost Vietnamese market.
The Stable Market Requires Patient Cultivation
According to feedback from Chinese exhibitors on-site, penetrating the Japanese market places emphasis on quality, and the initial development requires a certain amount of time and patience. Especially in Tokyo, customers are very cautious when selecting suppliers, and it may even take several years of continuous testing and inspection before finally placing an order. However, once they start cooperating, they won't easily change suppliers. The loyalty and persistence of the customers are quite good, making it a relatively stable market worth cultivating. Made-in-China.com received hundreds of local buyers at the exhibition, and after communication, summarized the following three suggestions:
(1) Japanese people always plan everything. If something unexpected happens, they will be flustered. Most exhibitors also have a habit of planning in advance. By using the official website directory, they can plan their target booths in advance, which leads to efficient exhibition participation. Therefore, it is suggested that all exhibitors fill out their directory carefully, and consider placing advertisements in the exhibitor's directory or on the map.
(2) Younger visitors who come to the exhibition are likely company staff. They need to report to the company in advance when visiting booths and their exhibition time is relatively short. They generally won't stay at unplanned booths. Older visitors may have decision-making power and are more willing to linger, so it is recommended to seize such visitors.
(3)Many Japanese people have never heard of WhatsApp. The general communication apps in Japan are LINE for personal use, and Google chat or Teams for business use.
Currently, Made-in-China.com has more than 20 million global buyers, with an annual website traffic exceeding 2.3 billion visits. As China's leading cross-border e-commerce platform, Made-in-China.com has always been committed to providing more overseas display and trading opportunities for Chinese small and medium-sized enterprises, helping them to open up international markets and tap into overseas business opportunities!