Another major Japanese firm may be ready to ditch Britain over Brexit

REUTERS/Stringer

• Japanese retailer Muji is reportedly planning to shift its European headquarters out of the UK because of Brexit.
• Bloomberg reports that it may move to Germany.
• The possibility of Muji's move has emerged less than a week after electronics giant Panasonic confirmed it will shift its European HQ from the town of Bracknell to the Dutch capital, Amsterdam.
• Japanese companies are worried about how possible Brexit-induced tax changes could impact their profitability.

---

The Japanese retailer Muji is reportedly ready to move its European headquarters out of the UK in preparation for Brexit, becoming the latest in a line of companies from the world's third-largest economy in ditching Britain as it prepares to leave the EU.

According to a report from Bloomberg on Tuesday morning, which cites people familiar with the firm's ambitions, Muji is preparing plans to move its European base to Germany as a result of Brexit, which many Japanese companies believe could have a serious impact on their ability to make money in Europe.

See the rest of the story at Business Insider

NOW WATCH: How a black cop infiltrated the KKK — the true story behind Spike Lee's 'BlacKkKlansman'

See Also:

• $71 billion Japanese giant Panasonic is pulling its European headquarters out of the UK — and Brexit is to blame
• The pound surged above $1.30 after EU negotiators hint at a major Brexit compromise
• REPORT: Mark Carney has been asked to extend his term as Bank of England governor as Brexit looms

SEE ALSO: $71 billion Japanese giant Panasonic is pulling its European headquarters out of the UK — and Brexit is to blame

from Business Insider https://ift.tt/2PBBeUX