Britain Has Not Yet Completed Its European Departure Procedures. Muji Has Moved To Move Its European Headquarters Away From London.

MUJI London Totham store

According to Bloomberg news, an insider revealed

Worried that Britain will become a tax haven after leaving Europe, it is considering moving the European headquarters in London to other countries. Germany is one of the alternatives.

A spokesman for Muji told Bloomberg that the company was assessing the risks posed by Britain's departure from Europe and considered all feasible evasion methods, and has yet to decide whether to move out of the UK.

MUJI is not the first Japanese company to launch the idea of "leaving" because of Britain's departure from Europe. Panasonic announced last week that it wants to move its European headquarters in London to Amsterdam.

Japanese companies such as Nomura holdings, Da ho securities and Sumitomo Mitsui Financial Group have also had such plans.

Most of the companies chose to move to Germany, Nomura holding Frankfurt securities trading license in June this year.

Since the announcement of the results of the referendum in June 2016, all sectors of the world are discussing the future economic development of the UK.

After the euro, the trade agreement under the WTO will be renegotiated and the trade priority between EU countries will be lost. All these changes will affect the British government's tax decision.

Although the financial community believes that Britain will not become a complete "tax haven" for competitiveness, the tax rate of foreign companies in Britain will probably be reduced.

However, for foreign companies in Britain, this is a loss.

Not only will "European headquarters" become a "British headquarters", but the EU's trade priority will be increased instead of the EU's trade priority.

Companies in Britain and Japan may be even more difficult because Japanese law requires that Japanese companies with less than 20% tax payments in other countries need to pay taxes in Japan.

Vicky Pryce, a senior consultant at the British Institute of economics, was in the "

In the interview, benign competition promoted the prosperity of British business and made Britain the gateway to Europe.

It is foreseeable that Britain's position in overseas expansion of enterprises will be changed from Europe.

MUJI first overseas store opened in London in 1991

London is the first stop for Muji to go to the world. In 1991, the company opened its first overseas store in London and established its European headquarters here in 2007.

London has been of great importance to Muji, but the brand in recent years.

Most of the highlights are in Asia, and the European and American markets are weakening.

From 2012 to 2016, Muji was growing fast in China, and there were only 36 stores in 2011, and 200th in late 2016.

stay

Under the leadership, Muji's performance in East Asia continues to grow.

According to the good quality plan of Muji's parent company in recent years, sales in the 2013 fiscal year were 31 billion 276 million yen, and 90 billion 300 million yen in fiscal 2016.

In Europe and America, sales in fiscal 2013 amounted to 12 billion 306 million yen, and 2016 reached 19 billion yen in fiscal year.

Because of weak growth, market share has remained at around 10%.

At present, there are only 12 Muji shops in the UK, and London Company has 50 employees.

The volume is not big, but if you really move away from the UK, the future development and staff placement of these shops may become a problem.