Japan's Rebound In Exports Swung International Balance to Surplus In November

Akira Ito
17 Dec, 2025
Tokyo

 

Stocks in Tokyo extended losses from the previous session, and investors reviewed the latest update on international trade.

The Nikkei 225 Stock Average decreased 0.2%, the Topix fell 0.3%, and the yen hovered just above the 155-level against the Japanese yen. 

 

Japan Records Trade Surplus In November, Driven by U.S. Export Rebound  

Japan logged its first trade surplus in five months in November, amid a rebound in exports to the U.S., according to the latest data released by the Ministry of Japan.  

Exports jumped 6.1% to 9.7 trillion yen, and imports advanced 1.3% to 9.3 trillion yen, resulting in an overall trade surplus of 322.3 billion yen. 

U.S. shipments increased 8.8% to 1.8 trillion yen, driven by a rise in automobile shipments as the impact of higher tariffs failed to dent the demand. 

Imports from the U.S. increased 7.1% to 1.1 trillion yen, driving the trade surplus higher by 11.3% to 739.8 billion yen in November. 

The U.S. lowered its tariffs on Japanese automobiles from 27.5% and on other goods from 25% to a uniform rate of 15%, effective September.

Exports to the European Union jumped by 19.6%, the ASEAN region by 4.6%, Vietnam by 14%, and Taiwan by 16.8%. 

However, exports to China decreased 2.4%, generating a trade deficit with the second-largest economy for the 56th consecutive month in November of 777.9 billion yen. 

 

Japan's Core Machinery Orders Accelerated In November

Japan's core machinery orders in October rose for the second month in a row, driven by a sharp rebound in non-manufacturing orders. 

Core machinery orders, which exclude volatile ship and power plant orders, rose 7% to ¥992.9 billion, accelerating from a 4.2% rise in September. 

Orders in the non-manufacturing sector advanced 28.8% to 551.7 billion yen, while manufacturing orders fell 13.3% to 446.5 billion yen from a year ago. 

 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 0.2% to 49,300.30, and the broader Topix dropped 0.3% to 3,359.84. 

Semiconductor equipment makers, retailers, and financial services sector stocks dominated in today's trading in Tokyo. 

Softbank Group jumped 1.3% to ¥16,750.0, Tokyo Electron advanced 0.7% to ¥31,170.0, and Lasertec Corp. fell 0.4% to ¥29,320.0. 

Kawasaki Heavy Industries decreased 0.4% to ¥11,630.0, IHI Corp. fell 1.4% to ¥2,828.0, and Mitsubishi Heavy Industries declined 1.7% to ¥3,902.0. 

Fast Retailing Co. Ltd. added 0.6% to ¥56,850.0, Takashimaya Co. Ltd. fell 1.6% to ¥1,644.50, and Seven & I Holdings decreased 0.5% to ¥2,189.50.