Machine tool orders are approaching the ¥2 trillion-a-year era, with monthly orders in September 2026 reaching a record high since statistics began. The October preliminary figure also remained above ¥200 billion, raising the possibility of an upward revision. The article examines 20 major companies benefiting from this wave of orders and the layers supporting it.
Machine tool orders in September 2026 came to ¥223.2 billion, up 60.4% from the same month a year earlier and a record high. The October preliminary figure, released in November, was ¥204.4 billion, up 42.5% year on year, marking the 16th consecutive month of growth. Adding October to cumulative orders for January–September brings year-to-date orders to approximately ¥1.87 trillion, prompting the Japan Machine Tool Builders’ Association to raise its initial forecast of ¥1.7 trillion to ¥2 trillion. Orders are expected to exceed the previous record if approximately ¥130 billion is added over the remaining 2 months.
Orders are being driven by sectors other than automobiles, led by data-centre backup power and cooling equipment, semiconductor manufacturing equipment, power generation facilities, and the aerospace, space and defence sectors. Orders from China and North America each reached new record highs. Demand for control systems and parts, including FANUC’s factory automation division, is also strong.
This article selects 20 companies listed on the Tokyo Stock Exchange and divides the supply chain into 4 layers: leading manufacturers, “the brain and eyes” (CNC and measurement), parts and tools, and trading houses. It analyses earnings figures based on information available as of the evening of 12 November 2026, and examines where the wave of orders originates and where it is converted into profits.
Among the leading manufacturers, DMG MORI’s cumulative consolidated order intake for the first 3 quarters of the fiscal year ending December 2026 reached ¥522 billion, up 36.7% year on year, while its order backlog at the end of September rose to a record-high level of ¥328 billion. Meanwhile, Okuma’s orders for July–September rose approximately 50% year on year to ¥86.2 billion, and it raised its full-year order forecast to ¥310 billion, but production constraints left its stock facing a difficult period.
Even in this favourable market, the timing of component deliveries, production capacity and the ability to pass on prices are key to generating profits. The timing of converting order backlogs into sales, procurement capabilities and pricing power are seen as factors that will separate the winners from the losers, and attention is focused on future earnings trends.