FE Today Logo

Sony to move Europe hq to avoid Brexit disruption

January 24, 2019 00:00:00


Sony will move its European headquarters from the United Kingdom (UK) to the Netherlands to avoid disruptions caused by Brexit, reports BBC.

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

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.

And on Tuesday appliance maker Dyson announced it was moving its headquarters to Singapore, from Malmesbury in Wiltshire, although it said it had nothing to do with Brexit.

The UK is on course to leave the European Union (EU) 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.

In a statement Sony said the move would mean "we can continue our business as usual without disruption once the UK leaves the EU. All our existing European business functions, facilities, departments, sites and location of our people will remain unchanged from today."

Sony spokesperson Takashi Iida said 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.


Share if you like