Japanese companies, like Sony Group Corp.(TYO:6758), Kawasaki Heavy Industries (TYO:7012), and Suntory (TYO:2587), are stockpiling goods in the US to mitigate potential tariffs, according to Bloomberg News on Wednesday.
This has led to an 8.1% increase in Japanese exports to the US, totaling 1.5 trillion yen ($10 billion) in January, the news wire said.
The US has become Japan's largest export market in 2024, overtaking China, said the report. However, Dai-ichi Life Research Institute chief economist Kazuma Maeda warned that prolonged tariffs could force companies to raise prices or move production, the news agency reported.
The Japanese car industry faces significant risks, as the US market is the largest market for Toyota Motor (TYO:7203), Honda Motor (TYO:7267) and Nissan Motor(TYO:7201), added the report.
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