A survey shows that an increasing number of Japanese companies are suspending business in Russia, as Moscow's invasion of Ukraine drags on.
The study by research firm Teikoku Databank found that as of April 11, 60 of the 168 listed Japanese firms doing business in Russia, or 36 percent, had decided to pull out or cease operations in the country. The number surged from 37 in the previous survey, released in mid-March.
Of the 60 firms in the latest poll, 31 said they would suspend shipments to Russia, 11 said they would halt production at local factories, and nine said they would shut down outlets or other operations.
Three companies said they would withdraw from Russia. There were no companies that planned to do so in the mid-March survey.
Teikoku Databank cites disruptions to supply chains caused by economic sanctions on Russia. Japanese firms are under mounting pressure to pull out, as the war in Ukraine shows no signs of ending.
The research firm said the exodus of Japanese businesses from Russia will likely continue.
The study by research firm Teikoku Databank found that as of April 11, 60 of the 168 listed Japanese firms doing business in Russia, or 36 percent, had decided to pull out or cease operations in the country. The number surged from 37 in the previous survey, released in mid-March.
Of the 60 firms in the latest poll, 31 said they would suspend shipments to Russia, 11 said they would halt production at local factories, and nine said they would shut down outlets or other operations.
Three companies said they would withdraw from Russia. There were no companies that planned to do so in the mid-March survey.
Teikoku Databank cites disruptions to supply chains caused by economic sanctions on Russia. Japanese firms are under mounting pressure to pull out, as the war in Ukraine shows no signs of ending.
The research firm said the exodus of Japanese businesses from Russia will likely continue.
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Summary
60 out of 168 listed Japanese firms operating in Russia have decided to suspend or cease business activities, according to Teikoku Databank's latest survey. This number has increased significantly from the previous survey in mid-March, with 37 companies then. The reasons for these decisions are
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ID: 62672f16-9fc4-4a80-abb9-3fc6c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220426_02/
Date: April 26, 2022
Created: 2022/04/26 08:30
Updated: 2025/12/09 16:42
Last Read: 2022/04/26 08:30