Japan FY 2023 White Goods Shipments Projected to Grow 1.7 Pct

Tokyo, March 15 (Jiji Press)--Shipments of white goods in Japan in fiscal 2023, starting in April, are projected to grow 1.7 pct from fiscal 2022 to 2,632.6 billion yen, the Japan Electrical Manufacturers' Association said Wednesday.

The projection comes as product prices are expected to rise against a backdrop of higher materials costs, while demand for replacements is seen staying firm.

By item, annual domestic shipments are estimated to increase 1.2 pct for room air conditioners, 2.6 pct for refrigerators and 1.1 pct for washing machines.

In volume, shipments of the three items are expected to be flat, despite concerns that consumer confidence could be hurt by rising prices.

Meanwhile, domestic production of heavy electrical machinery in fiscal 2023 is forecast to drop 4.6 pct to 3,555.6 billion yen. Production of prime movers for power generation is likely to fall significantly in reaction to a concentration of large projects in the previous fiscal year.

[Copyright The Jiji Press, Ltd.]