Yanmar Group Pulls Out All Business Operations From Russia

The Japanese agricultural machinery manufacturer has announced that operations at its local subsidiary Yanmar RUS LLC will cease early next month.

Yanmar Holdings Co., Ltd. announced on 8 March 2023, Wednesday that it will cease all business operations in Russia. As soon as the procedures are completed, the Yanmar Group will cease all operations from their local subsidiary, Yanmar RUS LLC.

As per the announcement, the end of operations is expected to take effect in early April 2023.

Yanmar RUS LLC, based in Moscow, has been selling and servicing industrial equipment and service parts since February 2014. Yanmar RUS LLC had already suspended its business in Russia as of March 2022, except for some operations such as customer service, due to the suspension of product supplies and payments out of Russia.

Further, the press release suggests that Yanmar has been closely monitoring the situation and has determined that Yanmar can't continue doing business in Russia under the current conditions.

The decision to exit Russia operations is unlikely to have a significant impact on Yanmar's earnings.

About Yanmar

Yanmar, which had its beginnings in Osaka, Japan, in 1912, was the first company to ever be successful in producing a tiny diesel engine that was of a usable size in 1933. Yanmar is a global innovator in a wide range of industrial equipment and a pioneer in the development of diesel engines. Yanmar's global business operations span seven industries, including small and large engines, agricultural equipment, construction equipment, energy systems, marine, machine tools, and components. Yanmar offers cutting-edge solutions to the problems consumers encounter on land, at sea, and in the city to realize ‘A Sustainable Future.’

Source- Yanmar Press Release

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