Goldman Sachs Japan Machinery: Automation — Trade Statistics: Robot and Robodrill Volume Trends: July 2026
Summaries are public. PDF access requires an active membership; all members have the same access. Sign in
Goldman Sachs parses Japan's July trade statistics, released by the Ministry of Finance on the morning of August 28, 2026, as a monthly indicator of robot demand, tracking Fanuc (Sell; ¥6,052) — covering both robots and the 30-taper vertical machining center Robodrill — and Yaskawa Electric (Buy; ¥4,811). The core premise is that Japanese companies hold high shares of the global robot industry and produce largely domestically, with Japan still accounting for the bulk of global robot output. Export volumes to destinations such as the US, Europe and China therefore serve as a gauge of robot and automation investment centered on the automotive and electronics industries.
Exhibits break down robot shipment values for Fanuc and for Japan overall by destination — total, US, Europe and China — in millions of yen, and separately track Fanuc's robot export volumes and average export prices to China and North America, along with Robodrill exports by region, using Ministry of Finance data and Goldman estimates. The report draws on this month's data to assess potential trends in the robot industry and casing demand. Goldman's Japan machinery coverage universe spans 20 companies; its global ratings distribution is 50% Buy, 34% Hold and 16% Sell across 3,104 rated stocks as of July 1, 2026.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Exhibit 6
Exhibit 7
Exhibit 8
