Japanese machinery builders suffer from low equipment investments

According to the account settlements for the fiscal year ending in March, many major Japanese makers of textile and apparel machinery suffered sales decreases as equipment investments in the textile and apparel industries remained at a low level. Even for operating profits, the textile and apparel machinery business of Shima Seiki Mfg., Ltd. registered a a growth of 15.9%, while the textile machinery business of Toyota Industries Corp. registered losses.

Toyota reported that its consolidated sales of textile machinery in the fiscal year ending at the end of March decreased by 8% from the previous fiscal year to 30,705 million yen. Textile machinery registered operating profits of …