HC Deb 21 July 1953 vol 518 c195
33. Mr. D. Jones

asked the Chancellor of the Exchequer the total amount of British capital invested in Japanese industry, giving separately as far as possible each class of industry.

Mr. Maudling

No information is available as to the total amount of British capital invested in Japanese industry. The nominal value of United Kingdom holdings at the end of 1951 of share and loan capital in companies registered in Japan is estimated at £5.3 million, of which £4.2 million related to electric light and power companies. This estimate is the latest figure available; it is confined to securities quoted on, or known to, the London stock exchange; and it continues a series of estimates for the years 1938 to 1950 previously published by the Bank of England.

Mr. Jones

Will the hon. Gentleman confirm or deny a statement which appeared in a periodical recently that 60 per cent. of the capital of Teiko Cotton Yarn of Japan is owned by J. & P. Coats of this country?

Mr. Maudling

I certainly could not confirm or deny a statement of that kind relating to a particular company, but the hon. Member will be interested to know that, compared with the figure of £5,300,000, the amount invested in Japan at the end of 1946 was £5,100,000, so that there has been very little change.