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79% of Japan firms in Asia see sales drop

Christian Fernsby ▼ | June 1, 2020
Around 80 percent of Japanese firms operating in Asia are expecting a drop in sales in the first half of this year due to the coronavirus pandemic, an NNA poll has found.
Japan factory
NNA   Japan factory
According to the May 22-26 online survey, to which 1,036 Japanese business representatives in 12 countries and regions responded, 79.2 percent predict a decline in revenue during the January-June period from a year earlier, dragged down mainly by drops in orders, factory suspensions and dampened consumer sentiment.

Topics: Japan

Among the respondents who expect falling sales, the largest group of 27.2 percent forecasts a decline ranging from more than 20 percent to less than 30 percent, followed by 18.3 percent foreseeing a range of more than 10 percent to less than 20 percent.

By country, Japanese companies in India are suffering most from the economic fallout of the coronavirus outbreak, with 97.0 percent of respondents there expecting a drop in sales. One company in the automotive industry said its sales fell to almost zero in April and May.