Sony To Relocate European Headquarters To Amsterdam Amid Brexit Uncertainty - Reports

Sony Corporation has decided to relocate its European headquarters from the United Kingdom to the Netherlands amid uncertainty around Brexit that could result in obstacles for selling products within the European Union, media reported on Wednesday

MOSCOW (UrduPoint News / Sputnik - 23rd January, 2019) Sony Corporation has decided to relocate its European headquarters from the United Kingdom to the Netherlands amid uncertainty around Brexit that could result in obstacles for selling products within the European Union, media reported on Wednesday.

According to the NHK broadcaster, many businesses, including Sony, are concerned about the increasing political turmoil in London that could lead to the United Kingdom's exit from the bloc without a deal. This scenario may create potential barriers to sales of Sony products imported to its UK subsidiary across the European Union.

Sony's UK-based headquarters is selling audio-visual equipment and cameras manufactured in Japan and other Asian countries in 40 European nations.

At the same time, the corporation also plans to keep its office and the personnel in the United Kingdom to continue business operations.

Earlier in January, the UK House of Commons rejected the Brexit plan presented by Prime Minister Theresa May, which had long been negotiated with the European Union, thus increasing the risk the United Kingdom leaving the European Union without a mutual deal. Afterward, dozens of business leaders called on May and opposition leader Jeremy Corbyn to support another referendum on Brexit.

May has already rejected calls for a second referendum, pointing out that the United Kingdom should not delay its withdrawal from the European Union. The country is expected to leave the bloc on March 29.