The following are highlights of the results of this survey:
（1） Medium-Term Stance toward Overseas Business Operations
Reflecting the recent state of the global economy, this year's results - when compared with those of the past surveys - indicate signs of a standstill, despite the fact that over 80% of responding companies showed a stance toward strengthening/expanding overseas operations.
（2）Promising Countries over the Medium-Term
As was the case in the previous survey, India was given most as the promising country. 2nd and 3rd were Indonesia and China. These countries received similar percentage shares around the 40% mark and balanced out - much higher figures than the lower ranked countries. While the percentages of Brazil (9th) and Russia (12th) saw significant decreases, there were increases of the figures for Mexico (6th), USA (7th), and the Philippines (8th), all of which indicate the effects of recent economic conditions in each country and region. In addition, a look at the promising countries by industry shows that for the automobile industry, Mexico, which had finished in 4th place in the previous survey, ended up in 1st place in this survey- the first time for that country since JBIC started surveying by industry.
（3）Management Challenges to be Addressed
The top responses were standard challenges: "Expand current businesses qualitatively and quantitatively" and "Develop products that are strongly competitive (high market share product in niche market)." However, "develop individuals who are capable of managing overseas bases", "the creation of new businesses that will be new growth drivers", and "product development in line with local needs" were given as the challenges with the next highest level of importance.
（4）Engagement in Overseas M&A
As part of overseas business operations, overseas M&A was recognized as an important means of management by over 70% of responding companies and over 50% indicated that they were engaging in overseas M&A. As for an objective of overseas M&A, "Exploration of new markets, expansion of sales network" was given by almost 80% of the respondents.
（5）Domestic Business Operations and Repatriating Production
Of the companies that will be strengthening/expanding overseas business, for three consecutive years there has been an increase in the ratio of those that expect to either maintain or strengthen/expand domestic business, leaving that ratio at almost 90%. Regarding the repatriation of production, "Has been done" and "There are plans to do so in the future" were given by a total of 13.8% of the respondents, and the overseas production bases that have been transferred to Japan have mainly come from Chinese bases. The dominant reason for having repatriated production was "Due to improvement of export competitiveness via yen depreciation."