![Japan warns over Brexit during G20 talks](https://photo-cdn.urdupoint.com/media/2016/09/_2/740x404/pic_1473060760.jpg)
Japan Warns Over Brexit During G20 Talks
Rukhshan Mir (@rukhshanmir) Published September 05, 2016 | 12:15 PM
![Japan warns over Brexit during G20 talks](https://photo-cdn.urdupoint.com/media/2016/09/_2/740x404/pic_1473060760.jpg)
HANGZHOU, China,(UrduPoint / Pakistan Point News -5th Sep,2016) - Tokyo has issued its boldest warning yet over the potential fallout from Brexit, saying Japanese firms may shift key operations from Britain to Europe if they lose free access to the single market.
With a G20 summit under way in China, a Japanese government taskforce told Britain and the EU to minimise the "harmful effects" of Brexit on firms that treat the UK as a gateway to Europe. Some of Japan's best-known companies, including Toyota, Hitachi and investment bank Nomura, are re-assessing their UK investments after Britain voted in June to quit the 28-member EU, according to a report issued by Tokyo.
"Japanese businesses with their European headquarters in the UK may decide to transfer their head-office function to Continental Europe if EU laws cease to be applicable in the UK after its withdrawal," said the 15-page document, published late Friday.
The topic is almost certain to come up if Japanese Prime Minister Shinzo Abe and British leader Theresa May hold a meeting on the sidelines of the G20 talks in Hangzhou.
US President Barack Obama said at a joint briefing Sunday with May that they had discussed trade and both countries aim to "ensure that we don't see adverse effects" in their commercial ties.
Japan has warned that some of its firms were lured to Britain by its sales pitch as a launching pad for tapping the much-larger European market -- adding that London has a duty to hammer out a Post-Brexit deal that protects Japanese companies.
"We strongly request that the UK will consider this fact seriously and respond in a responsible manner to minimise any harmful effects on these businesses," the report said. More than 1,000 Japanese companies do business in Britain, employing some 140,000 local people, and Japan's direct investment in the country has topped 10 trillion Yen ($96 billion) to date.
The report also urged Britain and the EU to make the Brexit negotiation process transparent to avoid "unpleasant surprises". "Uncertainty is a major concern for an economy," it said.
Related Topics
Recent Stories
![Cricket: England v West Indies 3rd Test scoreboard](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019914.jpg)
Cricket: England v West Indies 3rd Test scoreboard
![Finance minister briefs Chinese officials on refor ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019922.jpg)
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
![Finland says Russian vessel violated its territori ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019912.jpg)
Finland says Russian vessel violated its territorial waters
![Olympic opening ceremony under way on River Seine](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019266.jpg)
Olympic opening ceremony under way on River Seine
![West Indies' treble strike rocks England in third ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019264.jpg)
West Indies' treble strike rocks England in third Test
![Ukraine court orders detention of suspect in murde ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019262.jpg)
Ukraine court orders detention of suspect in murder of nationalist ex-MP
![Long queues, ticketing problems ahead of Paris ope ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019015.jpg)
Long queues, ticketing problems ahead of Paris opening ceremony
![Rana Sanaullah Khan joins Paris 2024 Olympics inau ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019638.jpg)
Rana Sanaullah Khan joins Paris 2024 Olympics inauguration reception
![Glowing tributes mark 69th birthday of President Z ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019637.jpg)
Glowing tributes mark 69th birthday of President Zardari at Governor's House
![Players unaware of spying scandal as Canada Olympi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019635.jpg)
Players unaware of spying scandal as Canada Olympic coach sent home: official
![Naqvi hails Pak women cricketers for going down fi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019013.jpg)
Naqvi hails Pak women cricketers for going down fighting against SL
!['Sabotage' on French rail network before Olympics: ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019634.jpg)
'Sabotage' on French rail network before Olympics: What we know
More Stories From Business
-
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
7 hours ago -
Chinese support for CPEC, development projects show deep love with Pakistan: Mushahid
7 hours ago -
G20 seeks common ground on taxing super-rich
7 hours ago -
Stocks rise as inflation data boosts rate cut hopes
8 hours ago -
Land of PSM to be used for establishment of SEZs: NA body told
10 hours ago -
European medicines watchdog rejects new Alzheimer's drug
10 hours ago
-
FBR committed to resolve taxpayer issues in KP, Chairman FBR assures Governor KP
12 hours ago -
Tanveer emphasizes role of SEZs in attracting investment
12 hours ago -
Russian central bank hikes key rate to fight inflation
12 hours ago -
SBP injects Rs9.545 trillion into market
12 hours ago -
PSX stays bearish, loses 439 points
12 hours ago -
US Fed's favored inflation measure cools further in June
13 hours ago