Japan Inc. has found a new export market: Japan.
For the first time, companies are building products abroad and shipping them back home as the strong yen, aging workforce and improved skills overseas erode the century-old mantra that what's sold in Japan should be made in Japan. Nissan Motor Co.'s decision to begin importing foreign-made vehicles in 2010 paved the way for some of the biggest domestic companies to follow suit, including cosmetics maker Shiseido Co. and electronics giant Toshiba Corp.
Imports from overseas plants operated by Japanese manufacturers have more than doubled in the past decade to record levels, including a 31 percent jump in the past two years alone, compared with a 61 percent gain in total imports over the same period, government data show.