TOKYO, February 22. /TASS/. At least 60.6% of Japanese companies partially or fully suspended their operations in Russia last year, while 35.4% continue working "as previously," according to a report published by the Japan External Trade Organization (JETRO) on Wednesday.
Another 4% of companies said they had fully withdrawn from the Russian market or had decided to do so.
Among the main reasons for the suspension of operations were "changes in the policy on Russia by headquarters or representative offices in Europe" (61.7%), "voluntary restrictions on operations due to fears of reputation risks" (60%) related to Russia’s actions in Ukraine, according to research conducted by JETRO. Disrupted logistics was also mentioned as a reason by 48.3% of Japanese companies participating in the survey.
It is difficult to project further development of the situation on Russia’s business market, the Japan External Trade Organization stressed, but it admits that the number of firms deciding to suspend operations in the country rose over the past six months. The JETRO survey was conducted from January 24-31, with 198 companies operating in Russia.
Auto manufacturers Toyota Motor, Nissan Motor and one of the world’s largest producers of tires, Bridgestone, have suspended their production sites in Russia temporarily. Moreover, the Fast Retailing company has announced the closing of Uniqlo clothing stores.
Russian President Vladimir Putin said on February 24, 2022, that in response to a request by the heads of the Donbass republics, he had decided to carry out a special military operation. After that the US, EU states, the UK, as well as some other nations, imposed sanctions against Russian persons and legal entities.