World News | Toshiba to Shift 30-year Old Production Unit out of China Amid 'reducing Profits'

Beijing [China] September 12 (ANI): Amid Japan's ongoing tussle with Beijing, tech giant Toshiba will shift its 30-year old production unit from the Dalian city of China to Vietnam or Japan.

The plant is Toshiba's first-ever production unit in China that employs roughly 650 people, makes industrial motors and broadcast transmitters. But the production unit found itself on the chopping block due to a steep drop in production and decided to shutter it down by the end of this month, Nikkei Asia reported.

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The operators informed that they will initiate the liquidation process of this production unit as soon as October and the capacity will be shifted to Vietnam and Japan.

The move came amid the ongoing tussle between Beijing and Tokyo over China's growing clout in both the South China Sea and the East China Sea over the past few months, partly in response to Beijing's concerns over the increasing US military presence in the region because of escalating Sino-US tensions.

Also Read | China, Vietnam Should Avoid Taking Unilateral Actions to Complicate South China Sea Situation, Says Wang Yi.

Meanwhile, Beijing also claims sovereignty over almost the entire South China Sea and has overlapping territorial claims with Brunei, Malaysia, the Philippines, Vietnam and Taiwan.

Earlier, the Chinese Communist Party (CCP) had also aired a video in which it threatened Tokyo with a nuclear response and "full-scale war" if it interfered in China's handling of Taiwan. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)