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About a fifth of major Japanese firms suspend operations in Russia, Teikoku Databank poll

  • March 16, 2022
  • , NHK WORLD
  • English Press

A survey has found that some 20 percent of major Japanese firms doing business in Russia are halting their operations in the country, following the Russian invasion of Ukraine.

 

Private credit research firm Teikoku Databank released the result of the poll covering 168 Japanese companies listed on Japan’s major stock exchanges.

 

It found that 37 companies, or 22 percent of the firms surveyed, have announced their decisions to suspend operations in Russia as of Tuesday.

 

The poll said 22 companies have stopped their shipping of goods, seven firms have halted their local production, and four businesses have suspended operations at their shops and other places of business.

 

The research firm says many companies are citing confusion surrounding parts procurement, logistics, or other business disruptions following sanctions placed on Russia.

 

The research company says some critics are drawing comparisons between Japanese firms and IT giant Apple, furniture maker Ikea and other international brands, which have halted their operations on humanitarian grounds.

 

The research firm says if the conflict drags on, more Japanese firms will choose to suspend their operations in Russia to avoid developing a negative image.

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