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INTERNATIONAL > Ukraine Crisis

Toyota to halt auto production in Russia

  • March 3, 2022
  • , Nikkei , NHK
  • JMH Summary

NHK reported that Toyota has decided to suspend SUV production at its factory in St. Petersburg, Russia, beginning on Friday, speculating that the decision was probably made based on the assessment that procuring the necessary components will become increasingly difficult due to the Western sanctions against Russia. Noting that Honda has already halted auto exports to the Russian market, the broadcaster said the Japanese auto industry is apparently moving to discontinue businesses there on account of the war in Ukraine.

 

Nikkei ran a similar story, quoting Chief Cabinet Secretary Matsuno as saying that the Japanese government will do its utmost to minimize the international sanctions’ impact on Japanese business interests in Russia. While saying it is unavoidable that there will be “various effects” on Japanese companies, the government spokesman called for their understanding of the importance of taking actions to demonstrate unity with the Ukrainian people for what he called a “great cause.”

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