Japanese companies ask govt to alleviate impact of Brexit

JIJI -- MAR 30

Japanese companies asked their government on Wednesday to work to minimize the impact of Britain's exit from the European Union, or Brexit, on their businesses, as Britain formally notified the EU of its withdrawal the same day.

The Japanese industry ministry called a meeting with executives from companies operating in Britain, including Nissan Motor Co. <7201> and Hitachi Ltd. <6501>.

During the meeting, many participants said they are concerns about uncertainties over what kind of trade and investment rules will be made between Britain and the EU.

The business people also voiced worries that Brexit could lead to possible rises in export and import costs, complicated customs and other procedures, and toughened regulations on financial service licenses.

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