1、7T2se3r0Ot6kwoPa7T2se3r0Ot6kwoPaDistributed on:09/07/2025 11:46:09 GMTDistributed on:09/07/2025 11:46:09 GMTDeutsche Bank.ResearchDeutsche BankResearchJapan machine tool order update:Jun 2025(prelim)9 Jul 2025Iris Zheng,Head of APAC Automation&Industrials|(+852)2203 5884|IMPORTANT RESEARCH DISCLOSUR

2、ES AND ANALYST CERTIFICATIONS LOCATED IN APPENDIX 1.Deutsche Bank does and seeks to do business with companies covered inits research reports.Thus,investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.Investors should consider this r

3、eportas only a single factor in making their investment decision.Deutsche Bank.Research1Iris Zheng|(+852)2203 5884|Source:JMTBA,Bloomberg Finance LP,Deutsche BankJapan machine tool order:Jun 2025(prelim)International market momentum decelerated further,likely led by China and fading US pre-buyThe Ja

4、pan Machine Tool Builders Association(JMTBA)released preliminary headline Japan machine tool orders data for Jun 2025 Jun 2025 today(9 Jul).Detailed performance by region/country and by end-market for Jun are scheduled to be released on 23 Jul23 Jul.Since 2025,we have added time series data of end-m

5、arket performance for each region and key countries in our report.Overall Jun orders:Overall Jun orders:-0.5%0.5%yoyyoy and+3%mom.and+3%mom.June orders June orders were 133.2bn.133.2bn.YoyYoygrowth was-0.5%0.5%,the first negative reading in past nine months.This marked a further slowdown vs+3%in May

6、,and finished 2Q25 at+3%vs+7%in 1Q25.MomMom growth showed low single digit growth at+3+3%,but still underperforming the normal seasonality of+10%in the past five years.Overseas orders:flat Overseas orders:flat yoyyoy and and-3%mom;Momentum decelerated further.3%mom;Momentum decelerated further.Overs