14 Years of R&D Growth of Japanese Companies - Toyota Tops with 1.24 Trillion Yen
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R&D spending has risen continuously for 14 years, with Toyota leading at 1.24 trillion yen. A study of 154 companies revealed a 6.8% increase in fiscal 2023 compared to the previous year. Around 40% of companies are exploring "generative AI," while the automotive sector focuses on electrification.
10 August 2023, Japan - In a recent study conducted by Nikkan Kogyo Shinbun, it was revealed that research and development (R&D) expenses have shown a continuous rise for 14 years. Toyota claimed the top spot for the 22nd year in a row, investing a substantial 1.24 trillion yen. The survey encompassed 210 valid responses, with 154 companies disclosing their R&D spending plans for fiscal year 2023. These expenditures registered a 6.8% increase compared to the results from fiscal year 2022, marking a consistent upward trend.
The surge in R&D investments can be attributed to a positive outlook on post-pandemic economic normalization. Notably, nearly 40% of companies are actively exploring “generative AI” technologies, exemplified by interactive artificial intelligence (AI) like chatbots and GPT models. This signifies a growing interest in digital transformation (DX) within the R&D landscape.
The automobile sector, in particular, has witnessed significant investment in technologies linked to electrification and carbon neutrality goals. This includes heightened efforts in developing new vehicles and advanced technologies such as electrification, as seen with Nissan and Suzuki.
Takeda Pharmaceutical secured the third position for the second consecutive year, highlighting its commitment to long-term competitiveness through ongoing research, technology, and data investments.
Survey participants were asked about their focus areas in R&D, with 78.3% of respondents emphasizing “environment/energy” in line with the global push for decarbonization. Additionally, “Information and Communication Technology (ICT)/Electronics” garnered 59.6%, followed by “Robots/Artificial Intelligence (AI)” at 58.1%, and “Nanotechnology/Materials/New Materials” at 57.1%.
A noteworthy challenge 60.6% of companies faced was the difficulty in recruiting skilled personnel for R&D initiatives. However, 41.4% expressed their intention to increase R&D personnel numbers in the upcoming years, demonstrating a solid commitment to recruitment. To address this, 84.7% of companies planned to “expand mid-career hiring,” outpacing the option of “expanding new hires.”
An overwhelming 97.5% of respondents indicated that they were either “already working” on or “considering” promoting DX within their R&D endeavours. Within this category, 37.6% of companies were utilizing or contemplating generative AI, a technology that has garnered significant attention recently.
This survey, now in its 36th year, has been conducted since 1988, with the most recent data collected from mid-June to early July.
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Source: Nikkan Kogyo Shimbun
