Canon to move camera production back to Japan

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Canon wants to increase its domestic production over the next few years, something spurred by the falling value of the yen. According to Reuters, Canon is looking to increase its production in Japan from 40 percent of its overall output to 60 percent.

According to Canon spokesman Hirotomo Fujimori in a statement to Reuters, the boost in domestic production will include building cameras, as well as printers and copiers. The increase will take place over the next three years, and follows the yen hitting nearly a seven-year low after beginning to tumble in October of last year. As the value of the yen declines, so do any cost-savings previously offered by outsourcing production.

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