August 29, 2018 / 10:50 PM / in 2 months

Japan's Panasonic to move European headquarters to Amsterdam in October - Nikkei

(Reuters) - Panasonic Corp (6752.T) is to move its European headquarters from London to Amsterdam in October to avoid potential tax issues linked to Brexit, the Nikkei Asian Review said on Thursday.

FILE PHOTO: A man is reflected on Panasonic Corp's logo at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon

Moving the regional headquarters to continental Europe will also help Panasonic avoid any barriers to the flow of people and goods, Laurent Abadie, chief executive officer of Panasonic Europe, told Nikkei.

Of the employees based out of London office, 10 to 20 engaged in auditing and financial operations will be moved to the Netherlands, with only investor relations staff staying, the Nikkei report said.

Britain is due to leave the EU in March 2019.

Reporting by Aaron Saldanha in Bengaluru; Editing by Shailesh Kuber

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