PwC Japan sets up “Brexit Advisory Team”

For supporting Japanese companies to be affected by Brexit

30 June 2016
PwC Japan Group

Tokyo, 30 June 2016 - PwC Japan Group (Group Chairman and Territory Senior Partner: Hiroyuki Suzuki; from July 1, Koichiro Kimura) announced today that it has established a “Brexit Advisory Team”. The dedicated team will provide Japanese companies to be affected by the UK’s exit from the EU (“Brexit”) with information and advice on assessment, strategy deliberation, business and organizational restructuring, accounting, tax and legal practices, etc.

Leveraging PwC Japan’s experience and knowhow in crisis management services and its insight into policies and market and corporate trends, the Team will offer Japanese companies operating in the UK and other European countries comprehensive support from strategy deliberation to implementation. In addition, the Team will help clients solve their issues in close collaboration with PwC UK and other PwC member firms around the globe. PwC UK, boasting over 150 years of history, is one of the largest professional service firms in the UK with approximately 16,000 professionals.

With the growing risks posed by Brexit on the future global economy and increased forex volatility, the market environment is rapidly changing. The Team will timely share information on discussions about various regulations and tax systems collected from PwC UK and other sources to facilitate deliberations on a range of measures.

Osamu Kurata, a partner of PwC Advisory LLC who leads the Team, commented as follows:

“PwC Japan firms will bring together their respective expertise in business restructuring, consulting, audit, tax, legal, and other services and work closely to solve issues. Consisting of members familiar with the local situation, including those who are working in the UK, returned from the UK, and are seconded from the UK, the Team is well positioned to provide information on the latest developments in a timely fashion. We are committed to supporting Japanese companies doing business in Europe by making full use of the PwC global network.”

Outline of the Brexit Advisory Team

Key services:

Key support services for Japanese companies to be affected by Brexit include:

  • Scenario analysis of impacts of Brexit
  • Support for reviewing strategy on Europe and revisiting growth, withdrawal, or sell-out strategy
  • Support for reorganization/consolidation of European business
  • Support for response to emerging regulatory changes
  • Support for European business planning and initiative implementation
  • Support for governance framework review and capital restructuring

Key members:

  • Osamu Kurata, Partner, PwC Advisory LLC
  • Steve Sloman, Partner, PwC Advisory LLC
  • Yukinori Morishita, Partner, PwC Consulting LLC (with experience of working in the UK)
  • Jun Takashima, Partner, PwC Tax Japan (with experience of working in the UK)
  • Yasuhiro Wada, Partner, PricewaterhouseCoopers Aarata LLC (with experience of working in the UK)
  • Tsuyoshi Saito, Partner, PricewaterhouseCoopers Aarata LLC
  • Simon Gealy, Partner, PricewaterhouseCoopers Aarata LLC
  • Masaji Hamanoue, Partner, PwC UK (working in the UK)
  • Nick Woodford, Partner, PwC UK (in charge of supporting Japanese companies)
  • Kenji Muneyuki, Partner, PwC Germany (working in Germany)

Going forward, the Team will distribute information mainly on the latest Brexit developments and their possible impacts on Japanese companies. It will also offer individual consultation regarding impacts of Brexit and other matters.

Ends

About PwC Japan Group
PwC Japan Group represents the member firms of the PwC global network in Japan and their subsidiaries. Each firm of PwC Japan Group operates as an independent corporate entity and collaborates with each other in providing its clients with auditing and assurance, consulting, deal advisory, tax and legal services.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.