Latest stall blamed on global economic downturn

Canon Japan has confirmed that it is to delay construction for a second time, blaming the current economic downturn.

Canon had originally planned to start building the new factory in late 2008 on the southern Oita Prefecture. The latest delay comes after the company first stalled production in November, again due to the recession.

“The significant decline in demand has continued for longer than expected with no clear indication of when a recovery might be expected,” a company statement said.


Related Articles