Mitsubishi Expect Overseas Shift

Mitsubishi Electric competes with Siemens, General Electric, Rockwell Automation ,Schneider Electric; It is already on course to move production offshore.
But if the surging Japanese Currency which is hovering around 77 to the dollar, gains more ground to 70 yen per dollar, the company would need to greatly expand its overseas production from the current 18% of sales; As well as its overseas procurement of parts and materials, Kenichiro Yamanishi told Reuters in an interview.
Mitsubishi Electric, whose products range from lasers and satellites to air conditioners and elevators, has proven resilient against the strong yen with profitability holding steady even compared with 2007, when the yen was at 114 to the dollar and 162 to the euro.
Yamanishi also said Mitsubishi Electric's bread-and-butter factory automation business had shown few signs of slowing down, despite fears about the fragility of the U.S. and European economies.
Orders in China, South Korea and other parts of Asia remain strong, with equipment related to smartphone and constructionmachinery production picking up the slack left by sluggish demand from makers of liquid crystal displays and solar panels.