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Japanese firms show interest in moving to Ireland

Written by Robert McHugh, on 9th Jan 2017. Posted in Ireland

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The Irish Independent has today reported that the agency tasked with attracting foreign investment to Ireland is engaging directly with Japanese investors in both London and Tokyo to encourage them to locate operations here.

Japan has warned Britain that its European Union exit could prompt Japanese financial institutions to relocate operations from London, and has already listed a raft of concerns from Japanese companies about the transition away from the European Union. 
 
IDA CEO Martin Shanahan told the Irish Independent that a number of Japanese financial firms with operations in London were looking at Ireland with interest.
 
Japanese firms already have a presence in Ireland, including Dublin-based aircraft lessor SMBC Aviation Capital, which is owned by a consortium of Japan's Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance and Leasing, and Sumitomo Corporation.
 
Mr Shanahan said the queries were not exclusively from financial services, but also from technology and pharmaceutical companies. He said a lot of the queries were progressing to site visits with decisions by companies expected by June.
 
Source: www.businessworld.ie

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