Japan's Panasonic to move European headquarters from London to Amsterdam in October - Nikkei

[webfact]

Japan's Panasonic to move European headquarters from London to Amsterdam in October - Nikkei

 

FILE PHOTO: A pedestrian is reflected in a sign at Panasonic Center in Tokyo, Japan, February 3, 2016. REUTERS/Yuya Shino

 

(Reuters) - Panasonic Corp <6752.T> is to move its European headquarters from London to Amsterdam in October to avoid potential tax issues linked to Brexit, the Nikkei Asian Review said on Thursday.

 

Moving the regional headquarters to continental Europe will also help Panasonic avoid any barriers to the flow of people and goods, Laurent Abadie, chief executive officer of Panasonic Europe, told Nikkei.

 

Of the employees based out of London office, 10 to 20 engaged in auditing and financial operations will be moved to the Netherlands, with only investor relations staff staying, the Nikkei report said.

 

Britain is due to leave the EU in March 2019.

 

(Reporting by Aaron Saldanha in Bengaluru; Editing by Shailesh Kuber)

 

-- © Copyright Reuters 2018-08-30

[Bluespunk]

The chickens are coming home to roost...well leaving to roost elsewhere in this case. 

 

Tick, tock...

[edwinchester]

No surprise, the warnings were there in the lead up to the referendum but we're rubbished by the leave supporters.

[overherebc]

7 minutes ago, edwinchester said:

No surprise, the warnings were there in the lead up to the referendum but we're rubbished by the leave supporters.

More were worried about being forced to eat straight bananas.

???

[welovesundaysatspace]

Welcome to the EU!

 

Didnt the Japanese industry even write two letters to the U.K., one before the referendum and another one just recently, to warn of the potential implications? Well, when the stubborn child doesn’t want to listen. 

[transam]

Well at least they can have a good smoke there....?

[sammieuk1]

Fear not May is in Nigeria getting scammers replacements ready as we speak?

[Guest]

These kind of moves are expected to happen multiple times during the next couple of years. Foreign companies want and need to have their offices inside EU. 

 

Brexit offers lots of good possibilities for EU countries. 

[roquefort]

4 hours ago, oilinki said:

These kind of moves are expected to happen multiple times during the next couple of years. Foreign companies want and need to have their offices inside EU. 

 

Brexit offers lots of good possibilities for EU countries. 

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

[brucec64]

Fear not May is in Nigeria getting scammers replacements ready as we speak[emoji848]

May is there because she recieved a letter feom the Nigerian prince that there was a Brexit deal stuck in an African bank account, and she is there to provide her bank details to release it.

Sent from my SM-N950U1 using Thailand Forum - Thaivisa mobile app

[Guest]

22 minutes ago, roquefort said:

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

10 - 20 employees is just a sign what is about to happen due Brexit. Nothing more and nothing less.

[Chomper Higgot]

3 hours ago, roquefort said:

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

That’s what they said about the steel industry and ship building.

 

 

[lincolnshire poacher]

13 hours ago, Bluespunk said:

The chickens are coming home to roost...well leaving to roost elsewhere in this case. 

 

Tick, tock...

What do you expect  when the turkeys have voted for Christmas.

[Guest]

Is there a good list of foreign companies, which still have European headquarters in UK?

 

I'd like to use that list as a "hit list" for my country's government to lure those companies to relocate their offices to my country.

 

It should not be too difficult to get those companies to move their influence to mainland EU to get access to the EU markets and it's benefits.

 

 

 

[Guest]

These are the news what our Russian trolls and Russian minded lackeys really hate to be in public.The real effects of Brexit and disuniting from EU.

 

Why don't we keep this news on top of the list for unseeable future? As an reminder what breaking western unity means in real terms.. and to piss off our Russian trolls. 

 

Both works for me ?

 

 

[mike324]

On 8/30/2018 at 5:16 PM, roquefort said:

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

10-20 are the essential ones such as managerial levels that will be moved there, Panasonics UK headquarter employs over 400 staff. I'm guessing they will be compensated but out of a job. 

 

https://www.panasonic.com/uk/corporate/profile/overview.html

[Chomper Higgot]

Panasonic will now pay corporate tax s in The Netherlands not the U.K.

 

 

 

[Guest]

On 9/4/2018 at 11:50 AM, Chomper Higgot said:

Panasonic will now pay corporate tax s in The Netherlands not the U.K.

 

How big amounts are we talking with Panasonic? I suppose the companies are able to do some reductions, but anyway it's good for a country to hold regional hq's within their taxation.

[Guest]

On 9/4/2018 at 11:47 AM, mike324 said:

10-20 are the essential ones such as managerial levels that will be moved there, Panasonics UK headquarter employs over 400 staff. I'm guessing they will be compensated but out of a job. 

 

https://www.panasonic.com/uk/corporate/profile/overview.html

That's quite a lot of people left without work. Naturally there is feedback loops as these people spent their salaries buying local services, food etc.

 

Now another Japanese company MUJI is thinking about moving it's office to Continental Europe.

 

https://www.bloomberg.com/news/articles/2018-09-04/muji-weighs-brexit-headquarters-move-away-from-u-k-to-continent

 

Thanks Brexit.

[mfd101]

On 8/30/2018 at 5:16 PM, roquefort said:

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

That depends on how things pan out. The Panasonic move looks like a careful one: the operational staff move to the EU where, more or less whatever the details of the Brexit outcomes, they will need to be; the 'investor relations staff' (speaking impeccable Inglis] remain behind pro tem ...

[Guest]

On 9/7/2018 at 2:45 PM, mfd101 said:

That depends on how things pan out. The Panasonic move looks like a careful one: the operational staff move to the EU where, more or less whatever the details of the Brexit outcomes, they will need to be; the 'investor relations staff' (speaking impeccable Inglis] remain behind pro tem ...

Ability to speak the current Lingua Franca, English, has truly been a great advantage for Britain over the past decades. However that advantage has eroded over the years as Fennoscandinavians and Dutch speak good English in general. Our countries go even further and offer government services also in Chinese. I know this as a fact from Finland. I suppose other countries will follow the suite. 

 

There is simply no reason to prefer London as European HQ anymore. Now when London loses it's access to EU markets, there is even less reason for foreign companies to be in London.

[beautifulthailand99]

On 9/8/2018 at 1:55 PM, oilinki said:

Ability to speak the current Lingua Franca, English, has truly been a great advantage for Britain over the past decades. However that advantage has eroded over the years as Fennoscandinavians and Dutch speak good English in general. Our countries go even further and offer government services also in Chinese. I know this as a fact from Finland. I suppose other countries will follow the suite. 

 

There is simply no reason to prefer London as European HQ anymore. Now when London loses it's access to EU markets, there is even less reason for foreign companies to be in London.

In the Shell Hq in the Netherlands they speak in English - smart move from Panasonic - where they go others follow. But but but the British people have spoken. Yeah they have and the golden geese have heard their message and exposed the incompetent fools who are in charge. Calling last orders for sterling / baht - get your orders in sharpish before the bar shuts. 

 

 

 

[Kiwiken]

Even if all the European and Foreign interest who have set up HQ's in Britain to trade in the EU leave there is still the opportunity for the UK to reinvent itself. Why is everyone so defeatist. When the UK joined the Eu and France blocked NZ meat and produce we all thought the sky had fallen. But 50 years on We have reinvented ourselves found new trading partners and without subsidies become more efficient.

Britain is resilient. Roll up your sleeves and carry on. Europe needs Britain more than you need Europe. All the EU does is foster co dependence and weakness.

Pull your Troops out of Europe save the money. Defend your own interests and b- - - - - - g the rest

[puck2]

On 8/30/2018 at 5:16 PM, roquefort said:

10 - 20 employees moving to Amsterdam? That's really gonna scare the Brits.

 

There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

Did you receive this „news“ from B. Johnson, published in the Sun?

 

Here some facts not very interesting for you, I guess.

1. London is already losing some bankers to the continent. Only one example: Deutsche Bank. More will probably follow, depending on the Brexit negotiations.

2. Even if only 10-20 employees are moving to Amsterdam, the tax (especially the income taxes) of their company is moving too.

3. The Brexit fortunetellers say the same as you: There is no way the financial services jobs in the City of London (hundreds of thousands) are going to move to Amsterdam or anywhere else.

   I hope you don't bet on it.

[Guest]

6 hours ago, Kiwiken said:

Even if all the European and Foreign interest who have set up HQ's in Britain to trade in the EU leave there is still the opportunity for the UK to reinvent itself. Why is everyone so defeatist. When the UK joined the Eu and France blocked NZ meat and produce we all thought the sky had fallen. But 50 years on We have reinvented ourselves found new trading partners and without subsidies become more efficient.

Britain is resilient. Roll up your sleeves and carry on. Europe needs Britain more than you need Europe. All the EU does is foster co dependence and weakness.

Pull your Troops out of Europe save the money. Defend your own interests and b- - - - - - g the rest

While Britain is resilient and she will eventually reinvent itself, Brexit is a good opportunity for EU countries to take financial services from Britain to our side. 

 

London had it's fat years, being able to take percentages of deals made between Non-EU countries and EU. Thanks to Brexit now those percentages will move to other EU countries. 

 

While Brexit will hurt EU, we can at least take some advantage of it. 

[Guest]

More Japanese companies leaving Brexit UK.
 

Quote

 

Japan Waves Goodbye to U.K. as ‘Gateway to Europe’ Post-Brexit

 

Toyota Motor Corp. said on Saturday that it might have to temporarily halt output at its plant in Derby, England, in the event of a so-called hard Brexit. Electronics maker Panasonic has moved its European headquarters from near London to Amsterdam, while the Japanese retailer of Muji products is mulling a similar relocation to Germany. Other companies, like robot maker Yaskawa Electric Corp., are choosing continental sites for new operations in order to stay close to European customers if Brexit creates trade hurdles.

 

“A lot of Japanese companies, manufacturing companies in particular, have invested in this country as a gateway to Europe,” Shinichi Iida, minister for public diplomacy and media for the Japanese embassy in London, said in an interview. “A no-deal Brexit in March next year will be nothing short of a cliff edge” for our businesses.

 

https://www.bloomberg.com/news/articles/2018-10-03/japan-waves-goodbye-to-u-k-as-gateway-to-europe-post-brexit

[Guest]

.

[Guest]

Brexit effects. 

 

Quote

Mercedes-Benz abandoned plans to move production to UK plant after Brexit vote

 

Mercedes-Benz had been considering moving production to the UK ahead of the EU referendum in 2016, but decided against the move after the vote for Brexit, the carmaker’s chief executive has revealed.

https://www.independent.co.uk/news/business/news/mercedes-benz-brexit-production-move-nissan-plant-sunderland-a8568331.html