The Japanese industrial equipment maker Yanmar Holdings has decided to completely wind down its Russia operations, with a timeline that places the end of activities at the start of April this year. This information comes from an official press release issued by the company and its affiliates.
Yanmar Holdings, through its local subsidiary, began operating in Russia in 2014. After the intensification of the Ukraine conflict at the end of February 2022, the group took steps to suspend its activities within the Russian Federation. The new move marks the formal closure of the enterprise, as outlined in the manufacturer’s public description. The group announced that all commercial operations in Russia would be halted and that the local subsidiary, LLC Yanmar RUS, would cease activities after the necessary procedures are finalized. The closure was slated to take effect at the beginning of April 2023, according to the official statement.
Previously, Yanmar RUS LLC, headquartered in Moscow, engaged in the sale and maintenance of industrial equipment and spare parts. Since March 2022, the company stopped operations in the Russian domestic market, though it continued some customer service activities. The press release notes that starting April, those services would also be discontinued.
In March, a separate report surfaced about another foreign company planning to retreat from the Russian market. The publication Kommersant, citing Nikolai Setzer, the managing director of a different multinational, reported that Continental AG, a German tire and automotive electronics maker, intends to wind down its operations in Russia, including the sale of a tire manufacturing facility located in Kaluga. This development aligns with a broader pattern of multinational firms reassessing their presence in the country under evolving geopolitical and economic conditions. [Source: Kommersant report cited by company leadership]