Nintendo Says to Shift Part of Switch Console Production Out of China

Former Head of Chinese Shipbuilding Company Gets 12 Years in Prison for Corruption

After over a year of investigation, the former boss of China’s leading shipbuilder was handed a 12-year sentence on July 4 for graft crimes and abuse of power. The sentencing of Sun Bo, former top executive at the state-owned China Shipbuilding Industry Corporation (CSIC), occurred behind closed doors due to sensitive information related to state secrets, China’s state-run media Xinhua reported on July 4. Sun, 58, was accused of harming the interests of CSIC and bringing “extremely heavy losses” to national interests, Xinhua reported, citing a statement from the Shanghai No.1 Intermediate People’s Court. The court statement claimed that Sun took advantage of his position to offer business opportunities to companies in exchange for bribes, from which he profited about 8.64 million yuan ($1,257,367). Sun was also fined 800,000 yuan…

TOKYO—Nintendo Co Ltd plans to shift part of the production of its Switch gaming console to Vietnam from China to diversify manufacturing sites, a spokeswoman at the Japanese video game maker told Reuters on July 9.

The move would make Nintendo the latest company to relocate production out of China amid a Sino-U.S. trade war punctuated by tit-for-tat import tariffs spanning industries.

Nintendo, which outsources almost all Switch console production to contract manufacturers in China, plans to make the partial shift to Vietnam this summer, the spokeswoman said.

The shift is aimed at diversifying risks and not to escape the impact of potential tariff hikes by Washington on products imported to the United States from China, the spokeswoman added.

The Nikkei first reported the plan earlier on Tuesday.

Other Japanese firms looking to move production from China include electronics maker Sharp Corp and photocopier manufacturer Ricoh Co Ltd.

Last month, the Nikkei business daily reported that U.S. technology leader Apple Inc has asked major suppliers to assess the cost implications of moving 15 percent to 30 percent of their production capacity to Southeast Asia from China as it prepares to restructure its supply chain.

Washington has held off launching a fourth tranche of tariffs on $300 billion worth of goods, a measure that would see almost all Chinese imports to the United States impacted by tariffs.

By Yoshiyasu Shida

This article is from the Internet:Nintendo Says to Shift Part of Switch Console Production Out of China

Trump Says US ‘Doing Very Well’ With Tariffs on Chinese Goods, as Trade Talks Resume

President Donald Trump said July 7 that the United States is benefiting from tariffs imposed on China, as the two countries have resumed talks to resolve an ongoing trade dispute. Trump and Chinese leader Xi Jinping agreed to restart trade negotiations last month during a meeting held on the sidelines of the G-20 Summit in Japan. As part of the truce, Trump agreed to hold off on imposing threatened tariffs on roughly $300 billion of Chinese goods. However, current U.S. tariffs of 25 percent on $250 billion of Chinese imports, remain in place. The president, speaking to reporters before leaving for Morristown, New Jersey on July 7, said trade talks with China were going well, referring to phone discussions between U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin,…