Yen’s Slump Failing to Stem Exodus of Factories From Japan
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Japanese Prime Minister Shinzo Abe promises that Abenomics will revive the nation’s industrial might. For Takumi Tanaka at auto-parts maker Uchida Co., times are worse than after the 2011 earthquake.
Tanaka, managing director of a company founded in 1955, whose 94 employees supply Honda Motor Co. with parts molds, is contending with higher costs after a 17 percent drop in the yen in the past nine months pushed up the price of imported energy and metals. At the same time, he’s under pressure from clients to build factories near their overseas plants.