Approximately one year after Russia's invasion of Ukraine, the percentage of Japanese companies operating in Russia that have partially or fully ceased operations has reached 60%. Factors that led companies to withdraw or suspend operations included changes in headquarters' Russian business policies, as well as reputational risk and logistical stagnation. On the other hand, a large percentage of companies that are operating their businesses as usual (including those that are considering taking further action) are facing logistical stagnation, settlement difficulties, and restrictions due to sanctions against Russia. Although it is difficult to determine the progress or failure of Russian operations, more companies have decided on the direction they will take in the next six months to a year, compared to the previous survey conducted six months after the invasion.
The percentage of Japanese companies with operations in Russia that have partially or fully suspended operations increased by 11.1 points from the previous survey (August 2022; see September 9, 2022 article) to 60.6%. The percentage of "business as usual" (35.4%) decreased by 10.4 points. The "have already withdrawn or decided to withdraw" category accounted for 4.0% of the total (4.7% in the previous survey).