15,000 Companies in Japan Have Deals, Biz Ties with Russia

Economy

Tokyo, April 7 (Jiji Press)--Up to 15,287 companies in Japan have deals or indirect business ties with Russian firms, according to a survey report by credit research company Teikoku Databank Ltd.

These companies will inevitably be affected by economic sanctions imposed on Russia over its invasion of Ukraine, possibly being forced to scale down or cancel their deals due to trade restrictions or to procure products from alternative suppliers, the report, released on Wednesday, said.

As of March, 338 firms in Japan had direct export or import deals with Russian companies and they had business ties with 14,949 companies in Japan.

Many of those engaged in exports to Russia were companies handling automobiles, machinery parts or electronic components. Teikoku Databank predicted in the report that demand mainly for production of Russia-bound automobiles, totaling over 100,000 units a year, will be gone for the time being.

Among the importers were wholesales of lumber and those of seafood.

[Copyright The Jiji Press, Ltd.]

Jiji Press