SINGAPORE – A growing number of Japanese companies have moved some of their headquarters or key functions to Singapore, an air and marine logistics hub in Asia, viewing the city-state as a strategic location where they can oversee a new wave of investment in Southeast Asia.
Panasonic Corp. and Mitsui Chemicals Inc. recently moved some key functions, including a portion of the central purchasing function, from Japan to Singapore, while Hoya Surgical Optics Inc.also establish its headquarters in Singapore. The operational shifts entails personnel relocations. About a dozen of people, including the directors overseeing the procurement and logistics operations, will move to Singapore to spearhead the business strategically on a global scale.
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