Reuters: Technology News: Panasonic to expand home appliance output if yen drops to 105 vs dollar

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Panasonic to expand home appliance output if yen drops to 105 vs dollar Jun 4th 2013, 01:05 Tweet Share this Email Print Related News Apple joins other foreign brands in raising prices in Japan Fri, May 31 2013 U.S. dollar slides as soft data offsets Fed taper talk Thu, May 30 2013 Dollar rallies after stronger U.S. economic data Tue, May 28 2013 Yen firms, euro edges up versus dollar in thin trade Mon, May 27 2013 U.S. dollar marks worst week versus yen in a year Fri, May 24 2013 Analysis & Opinion Blame Japan’s debt on companies, not the state Panasonic Corp's Logo is pictured at an electronics store in Tokyo March 28, 2013. Credit: Reuters/Yuya Shino TOKYO | Mon Jun 3, 2013 9:05pm EDT TOKYO (Reuters) - Japan's Panasonic Corp said it will boost domestic production of washing machines and other appliances to half of its overall output from about a third should the yen weaken to 105 to the dollar, reversing a strategy of shifting production offshore. At 105 yen or lower it will cost less for Panasonic to build appliances it sells in Japan rather than importing them from factories abroad, Kazunori Takami, the head of the appliance business, said at a press briefing in Osaka. Since becoming president of Panasonic a year ago, Kazuhiko Tsuga has made profitability a priority for Takami and other division leaders. A weakening yen has already spurred some foreign companies including Apple Inc to raise prices as the currency shift eats away at their income in Japan. (Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Stephen Coates) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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