BREAKING NEWS Finally Feeling Like Fall Full Story

Japan warns UK its companies could leave over Brexit

Japan has given a stark warning to Britain that its big companies -- and others -- would have to quit the country if ...

Posted: Feb 9, 2018 6:54 AM
Updated: Feb 9, 2018 6:54 AM

Japan has given a stark warning to Britain that its big companies -- and others -- would have to quit the country if trade barriers after Brexit wipe out their profit margins.

After meeting Prime Minister Theresa May with a delegation of top Japanese executives, Japan's ambassador to the U.K., Koji Tsuruoka, was asked about the threat of new obstacles to trade between Britain and the European Union, the country's biggest export market.

"If there is no profitability of continuing operations in the U.K. - not Japanese only - then no private company can continue operations," he told reporters.

"So it is as simple as that," the official added. "This is all high stakes that all of us, I think, need to keep in mind."

Japan is a big investor in Britain. There are more than 1,000 Japanese companies doing business in the country, employing more than 140,000 people.

They include global banking giant Nomura and top automakers Toyota, Nissan and Honda.

Japan went public with a detailed list of concerns about the impact on its companies shortly after Brits voted to leave the EU in a referendum in June 2016.

Related: Britain's most painful Brexit choice is all about trade

Japanese firms want reassurances that the U.K. will seek to limit any "harmful effects" on their businesses, according to a document published by the government in Tokyo.

Their wishlist includes maintaining the current zero tariffs on goods moving between the U.K. and the rest of Europe, as well as the existing customs procedures and the "passport" system that allows financial services firms based in London to do business across the EU.

European officials have made clear that Britain's plan to leave the EU internal market and customs union will inevitably mean new barriers in some of those areas.

The top European executive from Nissan, which employs nearly 7,000 people at the U.K.'s largest car factory, attended Thursday's meeting with May, along with representatives from Hitachi, Toyota, Honda, Mitsubishi, SoftBank and Mizuho.

"Business representatives ... agreed on the importance of the time-limited [Brexit] implementation period in providing clarity and certainty for people and businesses," a spokesperson for May's office said.

"There was also agreement on the importance of moving quickly in the negotiations to secure a trading relationship with the EU that is as tariff-free and frictionless as possible following the implementation period."

-- Charles Riley contributed to this article.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 497790

Reported Deaths: 9917
CountyCasesDeaths
Harrison34102530
DeSoto31839398
Hinds31837622
Jackson24314377
Rankin21881388
Lee15427234
Madison14525279
Jones13772241
Forrest13412250
Lauderdale11937314
Lowndes10934185
Lamar10470135
Pearl River9431237
Lafayette8454138
Hancock7697126
Washington7365156
Oktibbeha7111129
Monroe6727174
Warren6642176
Pontotoc6609101
Neshoba6606205
Panola6460131
Marshall6386132
Bolivar6266145
Union596094
Pike5784152
Alcorn5633101
Lincoln5417134
George491879
Scott470998
Tippah465381
Prentiss464181
Leflore4627143
Itawamba4596104
Adams4570119
Tate4546109
Copiah445191
Simpson4421116
Wayne438572
Yazoo438586
Covington427394
Marion4216107
Sunflower4215104
Coahoma4115104
Leake407787
Newton380879
Grenada3692108
Stone358464
Tishomingo356391
Attala330289
Jasper328265
Winston313191
Clay306375
Chickasaw296767
Clarke290694
Calhoun277945
Holmes266987
Smith262550
Yalobusha232647
Tallahatchie225251
Walthall217763
Greene215548
Lawrence211140
Perry204755
Amite203954
Webster201645
Noxubee185340
Montgomery179056
Jefferson Davis170642
Carroll167438
Tunica158639
Benton147438
Kemper141241
Choctaw133026
Claiborne131237
Humphreys129038
Franklin119128
Quitman106227
Wilkinson104539
Jefferson94234
Sharkey64020
Issaquena1937
Unassigned00

Alabama Coronavirus Cases

Cases: 813481

Reported Deaths: 15179
CountyCasesDeaths
Jefferson1139971910
Mobile722271323
Madison51970686
Shelby37279341
Baldwin37069540
Tuscaloosa34934599
Montgomery33953725
Lee23142240
Calhoun22142470
Morgan20639372
Etowah19758496
Marshall18245300
Houston17302405
St. Clair15912337
Cullman15306290
Limestone15202198
Elmore15075284
Lauderdale14143294
Talladega13715272
DeKalb12569259
Walker11085366
Blount10094174
Autauga9893146
Jackson9789180
Coffee9182189
Dale8859181
Colbert8789200
Tallapoosa7044195
Escambia6732127
Covington6682179
Chilton6587160
Russell625958
Franklin5930105
Chambers5559142
Marion4955126
Dallas4882199
Clarke472782
Pike4719105
Geneva4564126
Winston4473101
Lawrence4264117
Bibb421686
Barbour355475
Marengo334089
Monroe330262
Randolph327063
Butler324794
Pickens313882
Henry310965
Hale309187
Cherokee299957
Fayette290679
Washington250951
Cleburne246958
Crenshaw243575
Clay240367
Macon230562
Lamar215846
Conecuh185652
Coosa178538
Lowndes173761
Wilcox167438
Bullock151744
Perry138040
Sumter131038
Greene125544
Choctaw86927
Out of AL00
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Feels Like: 41°
Columbus
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Hi: 72° Lo: 46°
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Oxford
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A cold front passing through our area overnight will bring into our area some of the coolest temperatures of the season so far. We will see most of the highs this weekend only in the upper 60s to lower 70s. While overnight lows will drop off down into the 40s Saturday night.
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