ASEAN KEY DESTINATIONS
Japanese export firms taking a hit
MORE than a fourth of Japanese firms operating in the Philippines have suffered delays in production resulting in the cancellation of orders because of the disaster in Japan, according to the Japan External Trade Organization (Jetro).
In its emergency survey on the Japan disaster, Jetro said 46.6 percent, or 76 companies “acknowledge” the impact of the Japan earthquake and disaster.
Of the 76 companies, 43 are engaged in manufacturing and 33 in non-manufacturing. Another 11 percent of the respondents said the disaster had no impact, while 4.3 percent said the impact was unknown.
The survey was done between March 15 and 23 among 621 Philippine-based Japanese companies. Of the total number of companies, 163 responded for a recovery ratio of 26.3 percent. Eighty-five manufacturing companies and 78 non-manufacturers were polled.
The survey was conducted among members of the Japanese Chamber of Commerce and Industry Philippines Inc., and the Japanese Chamber of Commerce and Industry Cebu Inc.
“Generally speaking, the largest of the current impacts accounted for relate to delivery delays for both exports and imports. The effect on exports from the Philippines can be seen based on the stagnation of baggage at Narita,” Jetro said.
Japan’s exports promotions agency said the second largest impact based on the survey pertains to difficulty in procurement of goods and materials, which was the general consensus among companies importing from Japan.
The third highest number of answers pertains to difficulties in their Japan head office transactions and business stagnation.
“In relation to the survey answer the reduction in orders and production [including reservation cancellations] was stated,” Jetro said.
“For the non-manufacturing companies, particularly those in the hotel, tourism and transportation industries, most of the current impacts that they have stated are with regards to reduction in travel and cancellations,” the agency said.
Looking forward, Jetro said 48.5 percent acknowledged that there would be an impact, while 14.1 percent said the future impact was unknown.
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