Toshiba suspends trade with Russia

JAPAN: Toshiba has announced that it is currently suspending new orders and investments in Russia due to the conflict in Ukraine.

Professing concern for the situation in Ukraine and expressing its condolences to the victims, the statement from the Japanese multinational conglomerate adds: “We will continue to closely monitor the situation and take appropriate measures. The Group strongly hopes that the conflict will end as soon as possible and that peace and security will return.”

In addition, Toshiba says it has donated JPY100m ($780,000) to the United Nations High Commissioner for Refugees (UNHCR) and Japan Platform, a non-profit organisation, for humanitarian assistance to those affected by the disaster.

Toshiba admits that sales to Russia are only around 0.2% of its consolidated sales forecast for the year and impact on the business at this time is said to be minor.