Machine tool orders increased 260% on the year to 75.8 billion yen in March, according to preliminary data by the Japan Machine Tool Builders' Association, a Japanese news agency, Nikkei reports.
This marks the fourth straight month of year-on-year gains, due to strong demand in China and other parts of Asia. The sharp upswing was also in response to the plunge a year earlier.
Despite the March gain, fiscal 2009 was the second-worst year on record, with machine tool orders plummeting 43% to 547.1 billion yen, according to the Japanese association.
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