May 18, 2021

Sony will move its European headquarters from the United Kingdom to the Netherlands for the "Brexit"

Sony will move its European headquarters from the United Kingdom to the Netherlands for the "Brexit"


Updated:

The Japanese firm Sony is moving its main European headquarters from the United Kingdom to the Netherlands for the problems that can cause the «brexit» in its operations, financial daily Nikkei reported today.

According to the newspaper, the measure is justified in the event that Sony finds shipping problems and customs procedures with the departure of the United Kingdom from the European Union.

Nikkei says that the intention of the technological giant is to merge Sony Europe, currently with British headquarters, with a newly created subsidiary in Amsterdam, which will begin operations in April.

The corporation will continue to maintain a headquarters in the United Kingdom, but focused on the British market.

Nikkei recalls that the Japanese firm adopted a similar position last October Panasonic, which moved its European headquarters to Amsterdam.

In its fiscal year 2017, closed in March 2018, Sony reported that its sales in Europe represented 21.55% of the total, compared to 21.48% of the US market.

The country that accounts for most of its turnover is Japan, with 30.73% of the total.

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