News
It has been a year since Russia invaded Ukraine, during which 16% of the Japanese companies in Russia have withdrawn, according to Tokyo-based credit research company Teikoku Databank.
In February 2022, right before Russia made inroads into Ukraine, there were 168 Japanese listed companies doing business in Russia. By Sunday, however, 79 had announced that they will either suspend or downscale operations in or withdraw from Russia, accounting for nearly half.
By August 2022, only 10 firms had left Russia, but it has been learned that some 20 more have since withdrawn from the country.
Japanese enterprises, major automakers and related businesses, in particular, are in the process of taking permanent actions now, shifting from temporary operation suspensions to complete withdrawals and/or the disposal of businesses and subsidiaries.
