Okaya Electric Industries to Cut 500 Jobs at China Plant, Nikkei Reports

Okaya Electric Industries Co. plans to eliminate 500 jobs at its Chinese factory by March 2012 as wages in that country rise, the Nikkei newspaper reported today. The plant, in Dongguan, Guangdong Province, produces electronic components including capacitors for digital home appliances and employs about 2,000 workers, the report said.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editor responsible for this story: Jim McDonald at jmcdonald8@bloomberg.net

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