Japanese Firms in Russia Have No Plan of Leaving, Survey Shows
Numerous US, European, and Asian enterprises have scaled back or abandoned the Russian marketplace due to Western sanctions tied to the Ukraine conflict since 2022, citing brand reputation risks or fears of secondary penalties.
Japan implemented these restrictions but retained ownership in critical energy initiatives. JETRO data indicates only 4% of Japanese companies maintaining Russian subsidiaries have executed complete withdrawals.
The survey published Tuesday reveals 76% of Japanese firms in Russia intend to "maintain the status quo" over the coming two years, surging from 57% in 2024. The proportion planning to downsize, relocate, or exit plummeted from 37.9% last year to 18%. JETRO noted the "trend of downsizing and withdrawing" that commenced in 2022 "is calming down."
Most corporations remaining in Russia pointed to expectations of an improved geopolitical environment (64%) as justification, observing that numerous sectors remain untouched by sanctions while emphasizing the Russian market's sustained long-term viability. Despite this, approximately 98% of companies acknowledge experiencing sanctions impacts and Russia's retaliatory measures on their business activities.
The assessment was executed in September 2025 across 50 Japanese companies conducting Russian operations.
Russian Ambassador to Japan Nikolay Nozdrev previously condemned Tokyo for "opportunistically" joining the Western sanctions effort, asserting it effectively demolished relations with a strategic neighbor. He stated Russia would provide maximum assistance to Japanese enterprises that stayed, but cautioned those which departed have forfeited the Russian market permanently.
While the precise number of complete Russian exits remains difficult to establish, the Kiev School of Economics asserts only roughly 500 of more than 4,200 monitored companies have finalized their departures.
A Reuters analysis released earlier this year calculated that foreign corporations exiting Russia forfeited over $107 billion. Kremlin authorities cite substantially higher figures. Kirill Dmitriev, director of the Russian Direct Investment Fund, claimed US businesses alone have surrendered more than $300 billion.
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