Weak yen and lower costs lure factories back to Japan

Companies take advantage of 'Cheap Japan' to export cosmetics and rice

Iris Ohyama's rice cookers are displayed at a store in Japan. The company has begun to export packaged rice to the U.S. and Thailand © Reuters

HIROKI OBAYASHI, Nikkei staff writer

May 18, 2024 12:56 JST

TOKYO -- The depreciating yen is reviving Japan's appeal as a manufacturing hub for goods such as cosmetics, while the lower costs for exporters have bolstered the competitiveness of Japanese rice abroad.

South Korea's Cosmax, a contract manufacturer for cosmetics companies, plans to start building its first plant in Japan as soon as 2025. The facility will supply clients in Japan, while export destinations such as South Korea, China and Western markets also are being considered.