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Mapping Japan's Manufacturing Supply Chains Through Firm-to-Firm Transaction Data

日本語

August 12, 2026
Ko Adachi*1
Kosuke Aoki*2
Yoshiyuki Kurachi*3
Taiki Ono*4
Akitoshi Toyoda*5

Abstract

This study employs firm-to-firm transaction data to identify the multilayered and extensive supply chain structures in Japan's manufacturing sector and quantitatively analyze the characteristics of these supply chain structures. It also investigates the impacts of firm-level shocks, arising from both the supply and demand sides, on the overall manufacturing sector. The analysis reveals that automobile supply chains are exceptionally long and large-scale, with firms at the center of these chains exerting a larger influence on individual suppliers' production activities than in other industries. Furthermore, the findings indicate that supply constraints in products identified as potential bottlenecks can significantly dampen macroeconomic production. The results also highlight that holding inventory can serve as an effective measure to mitigate these impacts to a certain extent.

JEL classification
C67, L14, L16

Keywords
Supply Chain, Firm-to-Firm Transaction Data, Network Centrality, Supply Constraints

The authors would like to thank Hibiki Ichiue, Ryo Jinnai, Naoya Kato, Takuji Kawamoto, Takayuki Mizuno, Tomohiro Sugo, and Masaki Tanaka for their helpful comments and discussions. We would also like to express our gratitude to the Ministry of Internal Affairs and Communications and the Ministry of Economy, Trade and Industry (METI) for providing data from the Annual Business Survey, and the METI for providing data from the Census of Manufacture and the Basic Survey of Japanese Business Structure and Activities. Any remaining errors are attributable to the authors. The views expressed in this paper are those of the authors and do not represent the official views of the Bank of Japan.

  1. *1Research and Statistics Department, Bank of Japan (currently Monetary Affairs Department)
    E-mail : kou.adachi@boj.or.jp
  2. *2Graduate School of Economics, University of Tokyo
    E-mail : kaoki@e.u-tokyo.ac.jp
  3. *3Research and Statistics Department, Bank of Japan
    E-mail : yoshiyuki.kurachi@boj.or.jp
  4. *4Research and Statistics Department, Bank of Japan
    E-mail : taiki.ono@boj.or.jp
  5. *5Research and Statistics Department, Bank of Japan (currently Financial System and Bank Examination Department)
    E-mail : akitoshi.toyoda@boj.or.jp

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