Canon to move camera production back to Japan
|Photokina 2014 attendees outside of Canon's show floor space.|
Canon wants to increase its domestic production over the next few years, something spurred by the falling value of the yen. According to Reuters, Canon is looking to increase its production in Japan from 40 percent of its overall output to 60 percent.
According to Canon spokesman Hirotomo Fujimori in a statement to Reuters, the boost in domestic production will include building cameras, as well as printers and copiers. The increase will take place over the next three years, and follows the yen hitting nearly a seven-year low after beginning to tumble in October of last year. As the value of the yen declines, so do any cost-savings previously offered by outsourcing production.
Canon stated its intention to shift more production to Japan back in November. At that time the company quoted an increase to 50 percent domestic production over time.
Canon isn’t the only company looking to increase its production in Japan. Both Panasonic and Sharp are considering increasing their domestic production, though neither have explicitly confirmed plans to do so. According to a spokesman, Sharp may increase the number of refrigerators and LCD TVs it produces in Japan. Panasonic, meanwhile, has reportedly been considering increasing domestic production for a long while.