Japanese-owned companies employ 140,000 people in the UK.
This is true, according to estimates from the Japanese government, although we haven’t yet been able to look into these in detail as they aren’t published in English.
Japanese-owned companies have made it clear that their investment in the UK depends on access to the Single Market.
The Japanese government has sent a formal statement to the EU and UK, outlining what Japanese businesses would like a future trade agreement to look like. It raises the possibility that Japanese firms will relocate their European base from the UK to mainland Europe if barriers to investment are too high.
“140,000 people in Britain work for Japanese-owned companies. They've made it clear that those jobs and investment depend on Single Market access.”
Jeremy Corbyn, 12 October 2016
We contacted the Japanese Embassy in London to ask for the original source of this estimate. It told us that the estimate had been produced by the Japanese Ministry of Economy, Trade and Industry and linked us to the original research.
Unfortunately no-one in our office speaks Japanese. We’ll update this piece when we’ve found out a bit more about the research this claim was based on.
Both the Japanese government and businesses have formally stated their desire for the UK to remain closely integrated with the European single market, and outlined what Japanese businesses would like to see from a future trade relationship between the UK and EU.
The 15-page message raises the possibility of Japanese firms moving their headquarters outside Britain:
“Japanese businesses with their European headquarters in the UK may decide to transfer their head-office function to Continental Europe if EU laws cease to be applicable in the UK after its withdrawal.”
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