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Some companies, like Jtekt Corp (6473.T), the world’s biggest supplier of vehicle steering systems, are simply moving some of their operations away from competition. Jtekt last year cut the ribbon on a new technology development center in Akita Prefecture, northern Japan, known more for its rice, sake and namesake dog breed than engineering. The facility, which will develop technology for self-driving cars, is far from other companies hiring into the industry. So far the company, a key supplier of Toyota Motor Corp (7203.T), has hired about 20 engineers and plans to roughly double its workforce by the end of the year.
“In larger cities, it’s difficult to get across the message that we are hiring because we’re competing with many companies for the same talent,” said Fukami Imai, the center’s representative director, Denso Corp (6902.T), another Toyota supplier, took the opposite route, moving part of its self-driving research program to Tokyo because it is a more attractive locale than its headquarters in gritty Nagoya, “Some companies are offering free food or subsidizing rent so 14kt gold set cufflinks workers can shorten commuting time,” Matsumoto said, “Some companies even provide counseling and time off for couples trying to conceive.”..
Japan’s working-age population peaked in 1995 at 87 million and is forecast to fall to 45 million by 2065. Businesses slow to respond to that demographic change have been hit hard. Toyobo Co Ltd (3101.T) said it needs to ramp up production of film used in flat-panel displays, but can’t fully staff the production line. Keeping employees from quitting - and not just throwing money at the problem - is another crucial piece of the labor puzzle, experts say. “My new employer paid me more money, but the working hours were awful,” said Daisuke Okamoto, 42, an accountant who left a job in advertising in April for a position at a consumer goods company. “At first, I had a lot of regret. Now the company has given me more flexible working hours and the freedom to occasionally work from home, so I feel better about the job.”.
Daikisangyo, which assembles plane fuselages and wings for Boeing Co (BA.N), was having trouble retaining new employees, Then it introduced a mentoring program that reduced turnover to zero, at least for now, “It’s not just about the money anymore,” said Tsuyoshi Saso, a manager at Interworks, a nationwide recruitment site for jobs in manufacturing, “They also want to 14kt gold set cufflinks work in a positive work environment with good colleagues.”, Foreign workers can help fill some of the gaps, although they make up only about 2 percent of the current labor force, and companies hiring for “unskilled” positions like farm work must rely on trainees under an internship program that lasts up to five years..
The government has said it will create new categories for foreign workers with more limited skills, but will issue only a small number of such visas. Mazda Motor Corp’s (7261.T) suppliers, which typically operate independently, are cooperating to figure out the best way to use artificial intelligence and robots to remove human workers from the equation altogether. “Our goal is to create unmanned production lines that can operate 24 hours a day, 365 days a year,” said Masato Uno, chairman of the Hiroshima Manufacturing Engineering Association, a consortium of Mazda suppliers and IT companies. “We expect this to address problems with productivity and labor shortages.”.
DUBAI/RIYADH/LONDON (Reuters) - Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc (TSLA.O) CEO Elon Musk’s proposed $72 billion deal to take the U.S, electric car maker private, despite acquiring a minority stake 14kt gold set cufflinks in the company this year, two sources familiar with the matter said, The 47-year-old investor and engineer stunned financial markets on Tuesday when he said on Twitter that he was considering a take-private deal for Tesla, an auto manufacturing pioneer that developed the world’s first luxury all-electric sedan car, He also said he had secured funding for the proposal, without providing details..
Investors and analysts viewed PIF as a natural financing partner. Beyond amassing a stake of just below 5 percent in Tesla, the sovereign wealth fund has poured tens of billions of dollars into technology investments, including $45 billion in SoftBank Group Corp’s (9984.T) Vision Fund over five years. However, a source who is familiar with PIF’s strategy said it was not currently getting involved in any funding process for Tesla’s take-private deal. A second source close to the situation also said PIF was not taking part in any such plan at this stage. This source said that the Saudi fund would not make an investment of this kind without seeking guidance first from Softbank. According to separate sources who spoke to Reuters last week, Softbank is currently not pursuing an investment in Tesla given its investment earlier this year in rival GM Cruise.
Pressure is mounting on Musk to produce details of his financing plan, Bloomberg reported on Sunday that PIF is in talks that could see it become a significant investor in Tesla as part of the take-private plan but has made no firm decision, citing people with knowledge of the fund’s plans, Tesla’s board has not received a detailed financing plan from Musk and is seeking more information, sources told Reuters on Thursday, The board will make a decision on whether to hire advisers and launch a formal review of Musk’s take-private proposal 14kt gold set cufflinks in the coming days, based on how much detail on the financing plan it receives from Musk, another source said..
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