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Toshiba to cut costs by sourcing abroad

Toshiba Corp. said on Friday it will reduce the cost of procuring components, mainly for digital gadgets and home appliances, by a total of JPY1 trillion (USD11.64 billion) over three years by relying more on overseas suppliers.

A Toshiba spokesman said the company expects overseas supplies to account for 70 percent of its procurement cost in the fiscal year through March 2013, up from 57 percent in the last fiscal year.

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(Source: The Wall Street Journal Online)