Nagoya - Economy

Economy

Nagoya is the center of Greater Nagoya which earned nearly 70 percent of Japan's trade surplus as of 2003.

Nagoya's main industry is the automotive business, as many Japanese automotive companies are based out of Nagoya, akin to how many U.S. automakers are based out of Detroit. Toyota's luxury brand Lexus is headquartered in Nagoya. Mitsubishi Motors has R & D division in Okazaki located in a suburb of Nagoya. Many Japanese automotive suppliers such as DENSO, Aisin Seiki, Toyota Industries, JTEKT or Toyota Boshoku etc. are headquartered in Nagoya or suburbs of Nagoya. Furthermore, major automotive suppliers such as Magna International or PPG also have a presence in Nagoya.

JR Central, which operates the Tōkaidō Shinkansen, is headquartered in Nagoya, as is the fine ceramics company Noritake. As well Brother Industries which is known for office machines such as multifunction printers, NGK which is known for spark plugs and related products, Nippon Sharyo which is known for manufacturing rolling stock including the Shinkansen bullet trains and Hoshizaki Electric which is known for commercial ice machines and refrigeration equipment are also headquartered here. The Japanese confectionery company Marukawa is headquartered in Nagoya. There is also a sizable aerospace, machine tool and electronics industry in the area.

Aerospace-related firms operating in Nagoya include Boeing, Pratt & Whitney, Mitsubishi Heavy Industries, Bodycote, Kawasaki Heavy Industries, Spirit AeroSystems, and Fuji Heavy Industries.

Robot technology is another rapidly developing industry. Mechanized puppets, called "karakuri ningyo", are a traditional craft in the Nagoya area. In addition to the aerospace and robotics industries, a materials engineering industry is also developing in this area.

The World Expo 2005, also known as Aichi Expo was held just outside of Nagoya in the neighboring cities of Nagakute and Seto. The event was held from March 25 to September 25, 2005.