After a Downing Street summit with the Prime Minister and 19 leaders from Japan’s biggest businesses with operations in the UK, the Japanese ambassador warned that Japanese businesses might consider pulling out of the UK if Brexit goes badly.
Ambassador Koji Tsuruoka said “if there is no profitability of continuing operations in the UK - not Japanese only - then no private company can continue operations. It is as simple as that. This is all high stakes that I think all of us need to keep in mind.”
Commenting, Phil Wilson MP, leading supporter of Open Britain, said:
“If the Government doesn’t get its act together soon, we could be saying ‘Sayonara’ to Japanese businesses based in the UK.
“Japanese companies have invested in this country, supporting more than 160,000 jobs, largely on the basis that it provides a bridge into a the wider European market. If that bridge collapses, their investment will dry up.
“These companies know that the Government’s pledge to deliver the ‘exact same benefits’ as we currently enjoy, while leaving the Single Market and the Customs Union, is pie-in-the-sky. Ministers must now end their obsession with an ideological extreme Brexit, and start working to protect jobs, investment and the economy.”
Notes to editors:
More reporting on the summit can be read here.