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March 21, 1996

UK, US FAVORED LOCATIONS FOR MORE NEC MANUFACTURING

By CBR Staff Writer

NEC Corp plans to contribute further for the hollowing out of the Japanese economy and plans to move a load more production overseas in the next three years in a bid to soothe Japan’s friction with trading partners and lessen currency risks, chairman Tadahiro Sekimito said. We need a higher ratio of the overseas production to hedge against currency fluctuations, he said. It expects to raise the ratio of production outside Japan to 67% in 1999 from 54% in 1995; the remaining 46% is made in Japan and sold overseas. Sekimito said that NEC is likely to increase hardware and software production in the US, the UK and other Asian countries – but that while Asia is currently offering attractive low labour costs that NEC does not expect to continue very long.

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