Panasonic will move its European headquarters from the UK to Amsterdam later this year, a decision thought to be related to Brexit.
The move is aimed at avoiding potential tax issues linked to Britain's decision to leave the European Union.
Ahead of March 2019, several firms have said they are considering or will move jobs out of the UK.
There are widespread concerns firms will favour European cities, dependent on the terms of a Brexit deal.
Panasonic's decision was driven by a fear that Japan could start considering the UK a tax haven if it cuts corporate tax rates to attract business, Laurent Abadie, CEO of Panasonic Europe told the Nikkei Asia Review.
A spokesperson told the BBC the registration of Panasonic's European headquarters would move to Amsterdam from the UK in October.
In 2016, the government pledged to cut corporation tax to encourage businesses to continue investing in the UK after the referendum.
Britain voted to leave the European Union in 2016 but less than a year away from an exit date, Britain and the European Union are struggling to reach an easy consensus on the terms of the exit.
Bank of England Governor Mark Carney told the BBC recently that the possibility of a no-deal Brexit is "uncomfortably high" and "highly undesirable".
Mr Abadie told the Nikkei Asia Review that Panasonic had been considering the move for 15 months, because of Brexit-related concerns such as access to free flow of goods and people.
The newspaper said employees dealing with auditing and financial operations would move, but those dealing with investor relations would stay in the UK.
Panasonic told the BBC it could not comment on the numbers of people who would have to move to Amsterdam, or whether the decision was because of Brexit.
Heathrow airport's operator is also moving its international headquarters from the UK to Amsterdam because of Brexit.
Airbus and Vodafone have also recently warned of potential moves depending on the outcome of Britain's negotiations with the EU.
The move is aimed at avoiding potential tax issues linked to Britain's decision to leave the European Union.
Ahead of March 2019, several firms have said they are considering or will move jobs out of the UK.
There are widespread concerns firms will favour European cities, dependent on the terms of a Brexit deal.
Panasonic's decision was driven by a fear that Japan could start considering the UK a tax haven if it cuts corporate tax rates to attract business, Laurent Abadie, CEO of Panasonic Europe told the Nikkei Asia Review.
A spokesperson told the BBC the registration of Panasonic's European headquarters would move to Amsterdam from the UK in October.
In 2016, the government pledged to cut corporation tax to encourage businesses to continue investing in the UK after the referendum.
Britain voted to leave the European Union in 2016 but less than a year away from an exit date, Britain and the European Union are struggling to reach an easy consensus on the terms of the exit.
Bank of England Governor Mark Carney told the BBC recently that the possibility of a no-deal Brexit is "uncomfortably high" and "highly undesirable".
Mr Abadie told the Nikkei Asia Review that Panasonic had been considering the move for 15 months, because of Brexit-related concerns such as access to free flow of goods and people.
The newspaper said employees dealing with auditing and financial operations would move, but those dealing with investor relations would stay in the UK.
Panasonic told the BBC it could not comment on the numbers of people who would have to move to Amsterdam, or whether the decision was because of Brexit.
Heathrow airport's operator is also moving its international headquarters from the UK to Amsterdam because of Brexit.
Airbus and Vodafone have also recently warned of potential moves depending on the outcome of Britain's negotiations with the EU.
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