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ECONOMY

JETRO survey: 48% of Japanese companies taking measures to deal with Brexit

  • November 7, 2019
  • , NIKKEI Business Daily , p. 10
  • JMH Translation

The Japan External Trade Organization (JETRO) has released the results of a survey of Japanese companies on the U.K.’s withdrawal from the European Union (EU). The survey found that only half of the Japanese companies in Europe that responded said they are drawing up plans to deal with Brexit but many others said they are taking a wait-and-see attitude. The percentage of companies which said they had been negatively affected by Brexit stood at 31% due possibly in part to the cost of inventory accumulation.

 

The survey was conducted from Sept. 10 to Oct. 8. JETRO sent questionnaires to 979 Japanese companies operating in Europe. A valid response rate was 86%.

 

When asked about contingency plans for Brexit, 48.9% of the companies said they either “have already drawn up,” or “are currently drawing up,” or “plan to draw up” such plans. The percentage of companies that said they either “have no plan” to draw up measures or “have not decided yet” stood at 51.1%. (Abridged)

 

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