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'Don't bring factories home, it only adds to risk,' Nidec chief says

M&A maestro changes his tune, preferring cash on hand

China drove the global economy during the global financial crisis, but this time around no country is the leader economically or politically, says Nidec CEO Shigenobu Nagamori. (Photo by Toshiki Sasazu)

KYOTO -- With M&As for 66 companies under his belt, Nidec Chairman and CEO Shigenobu Nagamori is one of Japan's most prolific deal-makers. But the coronavirus outbreak has forced the maven to rethink his strategy as he ponders the rising value of cash.

The Renaissance man has doubts about moves by governments, including Japan, to bring manufacturing back home so as to depend less on foreign countries. Reshoring manufacturing is not the solution to supply chain disruptions, he says, arguing that the pandemic makes the case for more globalization rather than less.

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