Eyeing Brexit cliff edge, Japan waves goodbye to U.K. as ‘gateway to Europe’

Bloomberg, japantimes.co.jp

 

Excerpt:

After a February meeting between U.K. Prime Minister Theresa May and 19 Japanese business chiefs, Tokyo’s ambassador to Britain warned what might happen if Brexit took an unfavorable turn for foreign investors.

“No private company can continue operations” in the U.K. if it becomes unprofitable, Koji Tsuruoka told reporters on the steps of May’s Downing Street residence, after the premier pledged to pursue frictionless trade with the European Union. “It is as simple as that.” ...

“A lot of Japanese companies, manufacturing companies in particular, have invested in this country as a gateway to Europe,” Shinichi Iida, minister for public diplomacy and media for the Japanese embassy in London, said in an interview. “A no-deal Brexit in March next year will be nothing short of a cliff edge” for our businesses. ...