Japanese bosses hold Brexit talks with Theresa May
- Author: Jon Douglas Feb 09, 2018,
Feb 09, 2018, 3:29
A meeting is understood to have first been raised when Theresa May visited Japan past year.
Last year, Soros suggested the United Kingdom may never leave the European Union if the bloc reforms itself while Brexit negotiations are taking place.
They include global banking giant Nomura and top automakers Toyota, Nissan and Honda.
"The meeting will be tomorrow afternoon and the attendees will cover the most significant investors in the United Kingdom in such areas as banking, life sciences, technology and the manufacturing sector", a Downing Street spokesman said.
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.
Collectively the three carmakers build almost half of Britain's 1.67 million cars.
Meanwhile, The Telegraph - whose report was co-authored by Prime Minister Theresa May's former joint chief of staff - said that Soros was one of three major donors to the campaign.
The motor industry has expressed concern that their exports could face tariffs of up to 10% and be subject to customs delays after Britain leaves the European Union.
Nissan, whose plant in Sunderland, England, employs 7,000 people, says its chairman, Paul Willcox, will join representatives from other Japanese companies at the meeting. "We will not be disclosing details of the discussions".
It has also called for a transition period for Japanese companies to help shield them from the "unpleasant surprises" that could arise from uncertainty. Some are concerned about future drug regulations, with any divergence with the European Union likely to pose regulatory challenges.
Frankfurt has become the financial centre of choice, with Daiwa, Sumitomo Mitsui Financial Group (SMFG), Nomura and Mizuho Securities all bolstering their presence in the Germany city.
According to economists, the benefits from boosting trade with non-EU countries would not offset the slower growth forecast under every form of Brexit.