IndianSubcontinent

Image copyrightGetty ImagesSony will move its European headquarters from the UK to the Netherlands to avoid disruptions caused by Brexit.

The company said the move would help it avoid customs issues tied to Britain's exit from the EU, according to AFP.

Despite the move, Sony won't shift personnel and operations from the existing UK operations.

It is the latest Japanese company to flag a move to the continent in response to Brexit.

The UK is on course to leave the European Union in March, but the two sides have yet to strike a deal.On a recent trip to the UK, Japan's Prime Minister Shinzo Abe expressed concern over a no-deal Brexit.

He said it could hurt Japanese companies, which employ up to 150,000 people in the UK.

Electronics firms switch offSony spokesperson Takashi Iida told AFP the move would make Sony a "company based in the EU" so the common customs procedures will apply to Sony's European operations after Britain leaves the bloc.

Sony's rival Panasonic has already moved its headquarters to Amsterdam, mostly because of tax issues potentially created by Brexit.Both companies say the decision is unlikely to have a major impact on jobs in the UK.

Image copyrightGetty ImagesWhen Panasonic announced its move, it said "fewer than approximately 10" people would be affected out of a staff of 30.Bank withdrawalSeveral Japanese firms, including MUFG, Nomura Holdings, Daiwa Securities and Sumitomo Mitsui Financial Group, have said they plan to move their main EU bases out of London.Japanese bank Norinchukin announced earlier this month that it would set up a wholly-owned subsidiary in the Netherlands in response to Brexit and other economic changes in Europe.

Hitting the brakes A number of Japanese carmakers have also expressed concern over the impact of a hard Brexit.

Toyota has warned that a no-deal Brexit would affect investment and would temporarily halt output at its plant in Burnaston.Honda has already planned a six day halt in April to plan for "all possible outcomes caused by logistics and border issues".





Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021


Buy Our Merchandise (Peace Series)

 


Contribute US to Start Broadcasting



It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm


STRIPE


US help might purchase Kyiv time, but Ukraine needs a lot more troops


Explainer: What is the Israeli Netzah Yehuda battalion accused of



Israeli military intelligence chief resigns over failure to prevent October 7 attack


Unborn child survives as 18 children amongst 22 killed in Israeli air campaign


Israeli strikes on southern Gaza city of Rafah kill 18, mainly children


Israel is 'worse than Hitler's Nazis' claims Iran's man in Ireland


Six children among nine Palestinians killed by Israeli air strike in Rafah


Iran's 'axis of resistance' eager to take on more central role in dispute if hired


Benjamin Netanyahu's choice to strike straight inside Iran takes tensions to a hazardous brand-new level


Israel and Iran soft-pedal newest strike as they inch 'closer than ever to war'


Ex-Russian tycoon who led separatist region launches hunger strike in Azerbaijan


Iran indicates no plans to retaliate after Israel attack; guy with 'dynamites vest' arrested at Iranian consulate


Netanyahu has actually done what the world alerted him not to


UN strikes out at Israel for 'minimal effect' as barriers stay on getting help in to Gaza


Andrew Macaskill: Iran's air defences would be no match for Israeli assault


Explainer: What triggered the storm that brought Dubai to a dead stop


UN Security Council to vote Friday on Palestinian UN membership


?Absolute carnage? ? Dubai airport and roads flooded as heaviest rain ever recorded in desert nation of UAE


Iranian president alerts of 'huge and severe' retaliation to 'smallest invasion'; Cameron says it is clear Israel 'will act'


Iran would respond in seconds if Israel attacks, says minister


Israeli forces must stop Jewish settler attacks on Palestinians, UN human rights office says


Iran to be hit with new sanctions as Israeli war cabinet vows response to strikes


Artist declines to open Israeli Venice Biennale exhibition up until there is a ceasefire in Gaza


Israeli military vows reaction to Iran attack as calls for restraint install


The Indo Daily: Middle East on the edge of full-blown war as Iran launches unprecedented attack on Israel


Susannah George: Iran crosses red lines with attack on Israel to create a brand-new equation in Middle East dispute


Iraq faces consequences from West as parliament to vote on capital punishment for same-sex acts


World leaders advise restraint as worries grow Iran-Israel conflict might trigger full-blown war


Ireland monitoring security situation between Israel and Iran amid potential threat to Irish troops in Lebanon, says Miche?l Martin


Salman Rushdie says he had a dream about being attacked


The shadow war between Iran and Israel has been exposed. What happens next


Iran's attack on Israel could have repercussions far beyond the Middle East-- and Irish soldiers may be among those impacted


Simon Harris condemns Iran drone strike on Israel as G7 leaders warn of ?uncontrollable regional escalation?


Israel remains on ?high alert?, says military, as G7 leaders condemn Iran?s attack


What is the fallout from Iran?s attack on Israel


Iranian paratroopers take Israeli-linked ship and 25 crew in the Strait of Hormuz





23