The Business Secretary has welcomed a move that will see Hitachi transfer its global rail headquarters from Tokyo to London.
Hitachi is to move its global rail headquarters from Tokyo to London after appointing a British global chief executive.
The move has been hailed as a "huge vote of confidence for Britain" by Business Secretary Vince Cable.
Alistair Dormer has been named the head of the global rail operations, a new post designed to accelerate the globalisation of the rail systems business.
The UK's stuttering nuclear renaissance received a huge boost on Tuesday when Japanese engineering giant Hitachi took over plans to build two power plants in a £700 million deal which will create thousands of jobs.
ITV News' Business Editor Laura Kuenssberg reports: