A well-known Japanese manufacturer of office printers and imaging equipment is moving more of its production operations and personnel to Europe.
According to menafn.com, Seiko Epson Corp. (Epson) has decided to transfer more manufacturing and design operations to Europe in order to take advantage of the rise of the Japanese currency. The company also expects this move will help it get closer to the company’s customers and to draw more talent into its R&D pool.
The European Union and individual countries have provided incentives for Asian manufacturers to move operations to Europe as well. The Horizon 2020 program of the European Commission has distributed around €80 billion (US$846.9 billion) for seven years to attract technology and industrial jobs to Europe.
Minoru Usui, the president of Epson stated, “In the future it might be advantageous for us to produce close to the main markets, for example in Europe. We’re quite heavily exposed to yen fluctuations. Creating product design functions in Europe, Asia, perhaps R&D in America—that’s the direction I want to take the company in, gradually reducing the weight in Japan.”
(Photo source: Morgan McKinley）