Less Than 3% Of Japan Firms Quitting Russia, Lowest In G7

According to a recent poll, less than 3% of Japanese companies working in Russia have decided to exit following its invasion of Ukraine, the lowest ratio among the Group of Seven (G7) nations, Mainichi Japan reported.

Photo Insert: Moscow is where Russia's financial district is situated.

According to the survey analysis, a sizable percentage of Japanese businesses were hesitant to leave Russia, with many just suspending operations in the hopes of starting up again later.

A Teikoku Databank representative commented on the low percentage of Japanese businesses by saying, "The difference was that Japanese firms had not formulated detailed plans for withdrawal in advance."

Only 4, or 2.4 percent, of the 168 Japanese firms operating in Russia had decided by June 19 to stop business in the country, Teikoku Databank Ltd. said based on the survey conducted by the Yale School of Management in the US covering 1,300 major companies worldwide.

The proportion was significantly lower than the about 48% of British corporations that have announced their exit from Russia, followed by approximately 33% of Canadian companies and approximately 29% of US enterprises.

According to the poll, Italy had the second-lowest proportion of corporations departing from Russia, at roughly 5%.

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