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Economy

China edges out US as Japan's top export market

Growing investment in advanced manufacturing a boon for machinery makers

A unit of Tokyo Electron looks to double production capacity for semiconductor manufacturing equipment to meet China's voracious appetite.

TOKYO -- China has topped the U.S. as the leading destination for Japanese goods for the first time since fiscal 2011, as a burgeoning market for advanced technologies drives demand for chipmaking equipment in the world's second-largest economy.

Japan's exports to China were valued at a record 15.187 trillion yen ($141 billion) in the year ended March 31, or 18.3% more than in fiscal 2016, according to Ministry of Finance trade statistics released Wednesday. U.S.-bound exports grew 7.5% to 15.181 trillion yen.

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