The timing of the announcements by Toyota Motor Corp and the Bank of Tokyo-Mitsubishi UFJ is unfortunate given that Theresa May, the British prime minister, was in Japan in late August on a mission specifically to reassure Japanese businesses that they will not lose out in the EU market place should they choose to keep their European headquarters in the UK after Brexit. [...]
"A few months ago, the UK government was saying 'We're sure we'll be able to negotiate [a deal] without any trade tax'," he said. "They are not saying that any more." [...]
"Britain leaving the European single market is becoming a clear disadvantage for Japanese companies with operations across the continent there, although there is still an expectation among most that the UK will remain at least closely connected to the European market," Martin Schulz, a senior economist with the Fujitsu Research Institute, told DW. [...]
Underlining the importance of Japanese companies to the broader British economy, a steady stream of government ministers have been in Japan in recent months, including Philip Hammond, the Chancellor of the Exchequer, and Foreign Minister Boris Johnson.
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