2011 Five Region Fastener Association Conference Was Held Successfully

2011 Five Region Fastener Association Conference was held successfully at Korea Federation of Small and Medium Business (Kbiz) Grand Hall, Seoul, South Korea, on Sep. 26th, 2011. Mr. Katsuyoshi Okawa, Vice President of the Fasteners Institue of Japan, introduced the general situation of Japan's fastener industry. Japan's fastener saw a year-on-year growth of 29% to 2.87 million tons in terms of output volume and 28.8% to JPY  808.8 billion in terms of output value in 2010. Being affected by the earthquake on 11 March 2011, Japan's fastener output dropped by 4.5% to 680 thousand tons during the first three months of 2011, with the value decreased by 2.1% to JPY  195.6 billion year-on-year. Japan exported 310, 603 tons fasteners in 2010 with the value of JPY  235.8 billion, up 38% and 32.3% respectively year-on-year. The exported fasteners from Jan to May, 2011 were 120, 617 tons in the value of JPY  92.5 billion, down 2% and 3.1% year-on-year. The fasteners imported by Japan in 2010 rose 26.9% to 196, 761 tons, with the value up 16.1% to JPY  57.2 billion while compared with 2009. The imported fasteners from Jan to May, 2011 were 89, 834 tons in the value of JPY  21.6 billion, seeing a year-on-year growth of 12.1% and 12.9%. Though Japanese economic is under recovery, it only refers to returning to the economic level before disaster. Since the happening of earthquake and tsunami, many supply chains have been cut and electric power is in shortage. If the power shortage gets worse, the recovery rate will be slowed down and cause enterprises have to transfer production to oversea, which maybe accelerate the purchasing speed of fasteners from the most adequate areas. However, the industrial hollowing –out in Japan will be further aggravated, resulting in significant decrease of domestic demand. And this will probably matter the existence of fastener enterprises. Mr. Katsuyoshi Okawa, vice President of the Fasteners Institue of Japan, expressed his hope in 2011 Five Region Fastener Association Conference that consensus can be achieved in regard to the oversea expanding and strengthening of major demanded enterprises as well as the most adequate area for sourcing fasteners. He believed the severe environment around fastener industry will turn better. Source: Chinafastener. Com