Japanese manufacturers move to Philippines
Rising yen, risk factors in other countriesBy Riza T. Olchondra
Philippine Daily Inquirer
Monday, September 17th, 2012
The Furukawa Automotive Systems plant
in Vietnam PHOTO FROM FURUKAWA.CO.JP
Japanese manufacturers are making a beeline to the Philippines due to its young, English-speaking labor market following a rising yen at home and risk factors like floods and political changes in other hubs.
Electronics firm Furukawa Electric Co. Ltd. and adhesives maker Cemedine Co. Ltd. are the latest to invest with a combined 1.016 billion yen in initial capitalization alone. This brought new Philippine investments by major Japanese companies to at least 16.51 billion yen so far this year.
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