The Japanese and British have been working together for centuries, dating back to the year 1600, when William Adams arrived on Japanese soil. There was a cessation of relations for over 200 years however, from 1641 to 1853, but at that point the 1854 Treaty led to relations being resumed. Since then they have gone from strength to strength, with just five years ago William Hague, Britain’s Foreign Secretary referring to Japan as “one of [Britain’s] closest partners in Asia.”
So if Britain leaves the EU, what will this mean for its relations abroad, specifically with Japan? According to Japan’s Prime Minister, Shinzo Abe, bad news. He said that it could result in a “withdrawal of Japanese companies from UK, as they often see UK as gateway to European markets.” He has thus cautioned British voters to consider this as investment from Japan would likely come under threat, resulting in less stability for the 100,000 jobs this provides.
This would mean a huge fiscal loss, causing potential damage to Britain’s economy. Japan’s economy is huge – the world’s third largest (bigger than Germany and the UK together) and in terms of technology it is seen as Asia’s “high-tech powerhouse.” Furthermore, investing there, is relatively easy; according to a UK government publication “you can set up a company in 14 days.”
Abe also mentioned that one of the reasons over a thousand companies from Japan invest in Britain right now is due to it being “the gateway to the EU.” Should this no longer be the case due to Brexit, the investments could move elsewhere. He added that their “priority is reaching trade deals with the EU, and large trade areas, rather than with individual states in the EU,” he said.