Panasonic joins trend of reshoring out of nation

Panasonic Corp plans to transfer most of its domestic appliance production in China back to Japan starting in the spring, a response to the weaker yen and a jump in labor costs in China.

It is one of several Japan-based companies making such a move.

Panasonic President Kazuhiro Tsuga said in an interview on Tuesday, according to Kyodo News, that the company will move its washing machine and other home appliance production back to Japan and export products that are made in Japan to other markets.