Japan’s Epson to Reduce Overseas Operations, CEO Says

(Bloomberg) -- Japanese manufacturer Seiko Epson Corp. plans to reduce its workforce overseas and consolidate production sites in a bid to cut costs, Chief Executive Officer Yasunori Ogawa told Kyodo News in an interview.

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The company, which makes printers and scanners, is taking the steps as offices use less paper. Epson plans to shut its semiconductor production hub in Singapore in 2027, and move some operations to Malaysia and Indonesia, the report said.

The executive was also quoted as saying:

• The company aims to collaborate with Rapidus Corp., which wants to build next-generation chips in Japan

• Epson isn’t planning to cut jobs in Japan; he did not say how many jobs would be affected overseas

(Story corrected to say Malaysia rather than Myanmar in second paragraph.)

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