There were plenty of slightly xenophobic Hollywood films in the 80s and 90s about us firms being bought out by or sold out to foreign companies. A lot were Japanese companies of course. I think it's just the nature of global economies that exist these days.
Of course ownership by foreign companies isn't by default a bad thing if its keeping jobs here, investing in Britain, etc, etc, etc. As to paying taxes in UK that's not even guaranteed to happen with UK based companies either. There's more than enough loopholes to exploit.
Personally I don't see why foreign ownership of companies is as big a deal considering most are PLCs and probably owned by foreign investors even if they were British domiciled. If you don't like the system I think you're too late to the party, you should have thought about it in the boom times when most of you were part of the era that made it. Isn't that right Sid?