80.4% want to increase exports.

According to JETRO's annual survey on the state of overseas business activity of Japanese corporations, 80.4% of the respondents to the survey answered that they are intending to increase exports in the coming two years (2020 and 2021).

Among others, medical and cosmetics industries (92.6%), food and beverage industries (89.6%) and electric machinery industries (87.6%) are more eager to expand their exports, the survey revealed.

Primary reasons cited for the intent to increase exports are as follows:

*Domestic market growth is plateaued while overseas market especially the emerging market is expanding.

*"Made-in-Japan" brand value is appreciated overseas.

*Since inbound market created by foreign visitors' purchases in Japan is rapidly growing, those foreign visitors turn out to be permanent fans of Japanese products.

*Growing availability of cross-border online shopping sites

This survey was conducted from November 5, 2019 through December 23, 2019, and 3,563 companies including multi national companies and SME (83.9%) participated. Since the timing was before the COVID-19 outbreak, how the pandemic would affect the sentiment of the Japanese companies are yet to be seen.