'Made in Japan' Popular Products Shift from TV and Electronics to Cosmetics and Food Over 20 Years

[Image source=EPA Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] According to a report by Japan's Nihon Keizai Shimbun on the 26th, Japan's flagship products exported overseas under the label 'Made in Japan' have shifted from TVs and electronic devices to cosmetics and food products over the past 20 years.

According to the report, Japan's export value last year was 83.0913 trillion yen (approximately 826.2 trillion won), which is 1.6 times higher than in 2002, 20 years ago. During this period, items that increased in both export volume and value included automobiles, cosmetics, and fruits, while major flagship products such as TVs and other video devices, audio equipment, office equipment, and motorcycles disappeared from the main product list, Nihon Keizai Shimbun reported.

Among the recently popular products, cosmetics stand out as representative. Cosmetics exports increased twelvefold, highlighting the growth of daily necessities and food products, according to Nihon Keizai Shimbun. Masahiko Uotani, CEO of the Japanese cosmetics brand Shiseido, introduced that "Safety is important for cosmetics, so we are convinced that manufacturing bases must be located within Japan," and since 2019, they have established three production facilities in Japan.

In the case of automobiles, export value last year increased by 22% compared to 2002, but the number of exported units decreased by 10% during the same period, suggesting an impact from the transfer of factories overseas considering exchange rates, according to some analyses.

Products that have significantly decreased in exports over 20 years in Japan include TVs as a representative example. Video devices including TVs decreased by 76%, audio equipment by 83%, office equipment by 54%, and motorcycles by 43%. Nihon Keizai Shimbun stated, "Items that have lost market share to competitors from Korea and China or whose usage frequency has declined due to digitalization are noticeable."

This content was produced with the assistance of AI translation services.