The OEM is planning to move its production to Europe following other Asian companies.
MENAFN.com reported that manufacturers from Asia are seeking “havens from currency bounces” and moving to Europe where they can find new research and development talent.
Seiko Epson has already a foothold in Italy and may move more production to Europe to “counteract the effects of a stronger yen” and Minoru Usui, President, Seiko Epson, said: “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.”
The EU are pushing for Asian manufacturers to move their operations to Europe and Usui said that he wants to use acquisitions in Italy where they “provide clothes printing” for Milan’s fashion industry as a production model and then over time move manufacturing to Europe.