OSAKA (Kyodo) -- Sumitomo Electric Industries Ltd. will build manufacturing plants for automotive wire harnesses in Cambodia and the Philippines later this year to manage risks arising from the concentration of production of its mainline product in China, the president of the Osaka-based company said during a recent interview with Kyodo News.
"A labor shortage and wage hikes are occurring in China," Masayoshi Matsumoto said in reference to emerging risks in the country.
Outside Asia, Brazil is important for Sumitomo Electric because the South American country is "friendly to Japan and rich in natural resources," said Matsumoto, 66.
Sumitomo Electric is aiming to raise the proportion of overseas sales to 50 percent in fiscal 2011 from 40 percent in fiscal 2009 and will promote competent workers to executive posts regardless of nationality in order to expand overseas operations, he added.
2 comments:
It is good to do all kind of businesses with Japanese because they are very helpful, kind and talented people. I hope khmer people can learn alot of them...
Wisdom
4:31 PM, think it's a good news? it's not japanese people or government. It's a typical private corporation who constantly seeks for profit by minimizing the cost in producing their products. It's a good news and a bad news. The good news is apparent, this will create jobs for Khmer people, reducing unemployment and poverty rate a little. But the bad news is another sweat shop for Khmer people to be exploited as slave labor. Eventually, like in China's foxcom case, you will see people getting depressed and commit suicide. One must ask why they commit suicide when they can now make more money than when they did farming?
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