23.01.19
Sony to move European HQ to the Netherlands to escape Brexit disruption
Sony Center HQ building in Tokyo / Shutterstock.com
Sony will move its European headquarters from Britain to the Netherlands to avoid disruption caused by Brexit according to AFP.
The move will see Sony follow its Japanese rival Panasonic, which announced it would shift its Europe headquarters to Amsterdam in August, citing concerns about potential tax issues.
Both firms denied the moves would have any major impact on jobs and operations in the UK but are protecting themselves against customs and tax disruption.
Talking to AFP, a spokesman from Sony said the move will make the firm "a company based in the EU", so the bloc's common customs procedures will apply to Sony's European operations after Britain relinquishes membership.
The news comes as KPMG said uncertainty surrounding Brexit and global trade was likely to be the factor in a slowing of growth among UK tech firms.