Japan Firms in Myanmar Tense after Military Coup

Economy

Tokyo, Feb. 2 (Jiji Press)--Japanese companies operating in Myanmar have been dominated by a sense of tension since Monday’s coup by Myanmar’s military against the government of the country’s de facto leader Aung San Suu Kyi.

The Japan Chamber of Commerce and Industry in Myanmar had a membership of as many as 433 Japanese firms at the end of December 2020. This suggests that the political turmoil could affect a wide range of businesses in the country.

Among Japanese companies in Myanmar, trading houses Mitsubishi Corp. <8058>, Sumitomo Corp. <8053> and Marubeni Corp. <8002>, together with other firms, have built an industrial park in the Thilawa special economic zone near Yangon.

Automaker Suzuki Motor Corp.'s <7269> production and sales subsidiary in the district was in operation as usual on Monday morning, but its workers were told to return home in the afternoon due to the coup.

“We are working to confirm the situation,” said a public relations official at Toyota Motor Corp. <7203>, which has a plan to start operating a new plant at the industrial park later this month.

[Copyright The Jiji Press, Ltd.]

Jiji Press