Japanese Companies Halt Business In Russia

On March 10th, according multiple foreign media reporting, several prominent Japanese companies have joined a growing list of corporations suspending their operations in Russia as the Russian invasion of Ukraine continues.

Uniqlo owner, Japanese clothing retailer Fast Retailing, announced on March 10th that they would put its Russian business on hold and temporarily close all 50 of its outlets in Russia. On the same day, Hitachi, one of Japan’s biggest electronics and construction equipment makers, said it would suspend business in Russia at the request of the Ukrainian government, and Japanese company Mitsubishi Electric announced its plan to stops supplying its products to the Russian market, citing “multiple factors including the supply chain situation”. Sony has halted sales of its PlayStation consoles and software in Russia. Epson will suspend exports of its products to Russia and Belarus and has pledged $1 million in humanitarian relief support to the United Nations High Commissioner for Refugees. Marugame Seimen, Japan’s biggest udon noodle restaurant chain, announced its intention to cease operations at all seven of its stores in Russia. Japan Tobacco, which controls about one-third of Russia’s tobacco market, said it would suspend investment and marketing activities in Russia, and may close four factories in Russia.