Japan warns firms will leave UK after Brexit if trade barriers hit profits

 
Courtney Goldsmith
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Koji Tsuruoka is Japan's ambassador to the UK (Source: Getty)

Japan's ambassador to the UK issued a stark warning to the Prime Minister today, saying companies would be forced to leave Britain if trade barriers after Brexit hit their profits.

Bosses of 19 Japanese companies, including carmaker Nissan, brokerage firm Nomura and tech giant SoftBank, met with Theresa May today, where they discussed concerns about trade after the UK leaves the EU.

Following the meeting, when asked about the threat to Japanese companies of the UK not securing a frictionless EU trade deal, ambassador Koji Tsuruoka said: “If there is no profitability of continuing operations in the UK - not Japanese only - then no private company can continue operations."

“This is all high stakes that all of us, I think, need to keep in mind," he added.

Japan is the world's third-largest economy, and Japanese businesses have spent tens of billions of pounds in the UK.

Read more: City told to "face the facts" over post-Brexit financial services trade

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