Oki Electric Industry Co Ltd is the latest Japanese major to announce cutbacks, saying that it will cut capital investment and 2,000 staff in the year ending March 31, 1994 to improve its financial standing after being hit by dull demand for computers and semiconductors: capital investment for fiscal 1994 is likely to be cut by some 30% to 40% from this year’s $400m since investment in big projects was completed this year, and Oki is considering scaling back its semiconductor business; to improve sales, Oki will emphasise the development of new products from this year and top managers will be sent to work in sales; Oki is forecasting a parent company loss of $200m this fiscal.
