Sony to shift UK HQ to avoid Brexit disruption

January 23, 2019
Sony says its European HQ-relocation out of London is aimed at avoiding cumbersome post-Brexit customs-related procedures

Sony will shift its European headquarters from Britain to the Netherlands to avoid Brexit-related customs issues, but operations at its current UK company will remain unchanged, a company spokesman said Wednesday.

"We are moving the location of our European headquarters' registration to the Netherlands" by the end of March, company spokesman Takashi Iida told AFP.

The relocation is aimed at avoiding cumbersome customs-related procedures after Britain leaves the European Union, he said.

The Japanese electronics giant late last year registered a new company in the Netherlands, and plans to integrate its existing European headquarters in Britain into the new company.

The move will make the firm "a company based in the EU", so the bloc's common customs procedures will apply to Sony's European operations after Britain relinquishes membership, Iida said.

Sony, however, will not move personnel and operations from the existing UK company to the Netherlands, and "the only change we will make is the change of registered location of the ", he added.

Its rival Panasonic last year moved its European headquarters from Britain to the Netherlands over concerns about potential Brexit-related tax issues.

Several other Japanese firms, including megabank MUFG, Nomura Holdings, Daiwa Securities and Sumitomo Mitsui Financial Group, have said they are planning to move their main EU bases out of London.

The British parliament rejected Prime Minister Theresa May's withdrawal deal last week, leaving the UK on course to exit the EU on March 29 with no deal.

She has promised to try once again to amend the agreement, but critics say she will not succeed—and that parliament must now take control.

Japanese businesses have asked for a soft Brexit with a deal, including special measures in the transitional period to mitigate the impact of the UK's exit from the union.

They also hope that Britain and the EU "will establish an economic relationship that is as close as possible" after Brexit, Japan's main business lobby Keidanren wrote last year.

Explore further: Panasonic to move UK headquarters on Brexit fears

Related Stories

Panasonic to move UK headquarters on Brexit fears

August 30, 2018

Panasonic plans to move its European headquarters from Britain to the Netherlands later this year over concerns about potential tax issues related to Brexit, a company spokeswoman said Thursday.

Philips to shut UK factory over 'geopolitical' concerns

January 17, 2019

Dutch multinational Philips announced Thursday the closure of a British factory making baby bottles, threatening 430 jobs, citing "ongoing geopolitical challenges", months after warning about the potential negative effects ...

BMW to pause UK output of Minis after Brexit

September 18, 2018

BMW will stop production at its Mini factory in Oxford for several weeks to avoid supply disruption in case of a no-deal Brexit, the German auto giant said Tuesday.

Recommended for you

Sculpting stable structures in pure liquids

February 21, 2019

Oscillating flow and light pulses can be used to create reconfigurable architecture in liquid crystals. Materials scientists can carefully engineer concerted microfluidic flows and localized optothermal fields to achieve ...

LMC S154 is a symbiotic recurrent nova, study suggests

February 21, 2019

Astronomers have conducted observations of a symbiotic star in the Large Magellanic Cloud (LMC), known as LMC S154, which provide new insights about the nature of this object. Results of these observations, presented in a ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.