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International relations

Third of Japan companies fear Brexit will hurt business: survey

Respondents cite new procedures and paperwork among negatives of breakup

Despite a free trade agreement between the U.K. and EU, numerous administrative roadblocks remain that are worrying Japanese companies in Britain.   © AFP/Jiji

LONDON -- A third of Japanese companies with bases in the U.K. say that Brexit will have a negative impact on business, despite last year's U.K.-EU free trade agreement, according to a survey conducted by Nikkei.

The survey also found 1 in 10 businesses will shrink their U.K. presence as a result of the breakup, while none said it would expand in Britain.

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