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Brexit forcing Japanese financial companies to rethink Europe strategies

TOKYO/NEW YORK -- Japanese financial institutions that have European operational bases in London are being forced to review their strategies as a result of Britain's recent decision to withdraw from the European Union.

The EU has what it calls a "passport system" which allows financial institutions to operate in all member states if they receive a license in any of the countries. Many Japanese financial institutions have obtained licenses from Britain, and they fear their licenses may be invalidated by the Brexit vote.

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