The absurdly high value of the yen has forced Tokyo-based Hitachi Ltd to move more of its manufacturing operation overseas: the move will mean that about 70% of Hitachi’s overseas sales and about 35% of its domestic sales will be foreign-made products as opposed to the current 58% and 31% respectively; Hitachi’s move is the latest in a series of Japanse relocations that raise doubts as to whether Japan’s industrial foundations will crumble as a result of a general move to overseas production; Hitachi says it will continue to transfer design, manufacture and assembly overseas as long as it remains a cost effective option; its annual sales totalled $51,000m to March 31, of which just under 50% was for foreign markets; projected production for the current year is $5,200m;
