Itoh was thinking of moving its headquarters to Brussels or
Amsterdam because of the more favourable tax regime there.
Employees were allowed to pay tax on a pro rata basis taking
account of the time they were out of the country (Akimoto).
Paris was trying to build itself up as a financial centre
profiting from the increased regulation of the City. There was a perceptible change in the French attitude and they were willing to do business in English (Yamada).
(On investment in Japan) It was difficult for foreign firms to
set up in Japan and they sometimes had to pay excessive
salaries to recruit good Japanese staff. But these problems
were common to all new entrants including Japanese (Ishihara).
It was unclear why foreign companies should wish to manufacture in Japan at a time when Japanese manufacturing was itself moving
offshore, and when labour was difficult to obtain. But
reinforcing R and D work in Japan made extremely good sense
(Akimoto).
Environment (a short discussion)
6. I noted only Mr Howell's point that in the energy field the
problems were now not about the supply of fuel but about the costs
of power stations, gas piplelines and nuclear power.
Energy
shortages in the 1990s would be at the second stage of power
generation rather than the first. Fujii said that Japan was
shifting its position in response to the UK's change. It did not
wish to be isolated alongside the United States.
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