Toshiba to shift 30-year old production unit out of China amid 'reducing profits'
Amid Japan's ongoing tussle with Beijing, tech giant Toshiba will shift its 30-year old production unit from the Dalian city of China to Vietnam or Japan.
Amid Japan's ongoing tussle with Beijing, tech giant Toshiba will shift its 30-year old production unit from the Dalian city of China to Vietnam or Japan. The plant is Toshiba's first-ever production unit in China that employs roughly 650 people, makes industrial motors and broadcast transmitters. But the production unit found itself on the chopping block due to a steep drop in production and decided to shutter it down by the end of this month, Nikkei Asia reported.
The operators informed that they will initiate the liquidation process of this production unit as soon as October and the capacity will be shifted to Vietnam and Japan. The move came amid the ongoing tussle between Beijing and Tokyo over China's growing clout in both the South China Sea and the East China Sea over the past few months, partly in response to Beijing's concerns over the increasing US military presence in the region because of escalating Sino-US tensions.
Meanwhile, Beijing also claims sovereignty over almost the entire South China Sea and has overlapping territorial claims with Brunei, Malaysia, the Philippines, Vietnam and Taiwan. Earlier, the Chinese Communist Party (CCP) had also aired a video in which it threatened Tokyo with a nuclear response and "full-scale war" if it interfered in China's handling of Taiwan. (ANI)
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