section_path: Economy/Industry and services
section_name: Industry and services
paragraph_text: Industry and services
  
  Japan has a large industrial capacity and is home to some of the "largest and most technologically advanced producers of motor vehicles, machine tools, steel and nonferrous metals, ships, chemical substances, textiles, and processed foods ". Japan's industrial sector makes up approximately 27.5% of its GDP. The country's manufacturing output is the fourth highest in the world as of 2023.
  
  Japan is in the top three globally for both automobile production and export, and is home to Toyota, the world's largest automobile company by production. The Japanese shipbuilding industry faces increasing competition from its East Asian neighbors, South Korea and China; a 2020 government initiative identified this sector as a target for increasing exports.
  
  Once considered the strongest in the world, the Japanese consumer electronics industry is in a state of decline as regional competition arises in neighboring East Asian countries such as South Korea and China. However, Japan's video game sector remains a major industry; in 2014, Japan's consumer video game market grossed $9.6 billion, with $5.8 billion coming from mobile gaming. By 2015, Japan had become the world's fourth-largest PC game market by revenue, behind China, the United States, and South Korea.
  
  Japan's service sector accounts for about 71.4% of its total economic output as of 2022. Banking, retail, transportation, and telecommunications are all major industries, with companies such as Toyota, Mitsubishi UFJ, - NTT, Aeon, SoftBank, Hitachi, and Itochu listed as among the largest in the world.