Japanese manufacturers are increasingly looking to move offshore operations to their home market, according to a Tokyo Steel Manufacturing Co. executive.
The rapidly weakening yen, global supply-chain constraints, geopolitical risks and shifting wages patterns are prompting the switch, Kiyoshi Imamura, a managing director of the steelmaker, said in a recent interview in Tokyo.
Among those moving manufacturing to Japan are makers of everything from auto parts to cosmetics and consumer electronics, he said, with the trend expected to accelerate toward the end of this year.