Japan's NTT picks London as overseas base despite Brexit risk
Nikkei -- Apr 16
Top Japanese telecom group NTT plans to locate its new overseas headquarters in London, bucking a trend of multinational companies moving out of the U.K. amid uncertainty over Brexit, Nikkei has learned.

The London office is part of a reorganization slated for July and will serve as a key base for Nippon Telegraph and Telephone's efforts to expand beyond Japan.

The new company will oversee information technology services provider Dimension Data, which NTT acquired in 2010, as well as the overseas operations of Tokyo-based systems builder NTT Communications and other subsidiaries.

"London remains attractive, offering both the City, a global finance hub, as well as a wealth of human capital," a person close to NTT said.

NTT's move into London comes as Japanese manufacturers with U.K. operations weigh contingency plans for a "no deal" British exit from the European Union, which could trigger sudden tariffs and other business disruptions.

Europe accounts for roughly $2.3 billion of Dimension's $8 billion annual revenue, making it the company's most important region after the Americas.

News source: Nikkei
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