The shift in business strategy is due to Japan's declining birth rate and aging population. AdvertisementA Japanese diaper maker announced that it will stop producing diapers for babies and will, instead, focus on catering to the country's aging population with adult nappies. Related storiesConcerns over the implications of a declining birth rate have led to Japanese officials sounding the alarm. AdvertisementLow birth rates and an aging population risk dramatically shrinking Japan's population, which is estimated to fall by about 30% to 87 million by 2070, The Guardian reported. Oji Holdings' pivot due to shifting demographics mirrors a similar move made by Unicharm, Japan's biggest diaper maker, over a decade ago.

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Persons: —, Yoshimasa Hayashi, Fumio Kishida, It's, Unicharm Organizations: Service, Holdings, BBC News, Health, Welfare Ministry, United Nations Population Division, Guardian, Bloomberg Locations: Japan