April Industrial Production Update

Japan's April industrial production rose 0.8% MoM, beating forecasts due to strong AI-related demand, though Middle East supply disruptions are capping gains in other sectors.

Key Takeaways

• 1.April industrial production rose 0.8% MoM, exceeding the consensus forecast of a 0.6% decrease.
• 2.AI-related investment is boosting production and exports in electrical machinery and semiconductors.
• 3.Supply constraints stemming from the Middle East situation are hindering the chemical and petroleum sectors.

Table of Contents

• Result and thoughts
• The situation in the Middle East
• Mizuho Securities Forecast
• Short-term
• Medium to Long-term
• Important Disclosure Information
• Analyst Certification
• Disclaimer

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