Japan warns Brexit may drive banks, pharma investment to EU

Tokyo

JAPAN has warned Britain that its exit from the European Union could prompt Japanese financial institutions to relocate from London and listed a raft of concerns from Japanese companies about the transition away from the EU.

In a 15-page report published on the eve of a summit of the Group of 20 big economies in China, a Japanese government task force formed to respond to "Brexit" also warned of a possible outflow of drug research and development investment from Britain, though it said that it expected the British government to handle its exit from the bloc smoothly.