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'Japanese Firms Losing Ground in Markets to S.Korea'

Written: 2011-07-18 07:01:18Updated: 2011-07-18 09:12:38

'Japanese Firms Losing Ground in Markets to S.Korea'

A Japanese daily says that some Japanese firms are losing ground to South Korean rivals in key markets at home and abroad.

The Nihon Keizai Shimbun says that Hyundai Kia Automotive Group's U.S. market share grew to nine percent between January and June and is closing in on Toyota's 12-point-eight percent of the market.

The daily also said that Samsung Heavy Industries has secured many shipbuilding orders this year, while Mitsubishi Heavy Industries has only locked in one from a Japanese company.

The report added that Japanese firms such as Fuji Xerox and Cannon continue to top sales in office appliances, however, Samsung Electronics has moved up to number one in terms of output volume.

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