OREANDA-NEWS  Japanese engine and machinery manufacturer Yanmar has announced the complete abandonment of all business operations in Russia as soon as all the necessary procedures are completed. "It is expected that the termination of activities will take effect from the beginning of April 2023," the press release says.

The company recalled that in March 2022, due to the termination of product deliveries to Russia and payments abroad, Yanmar RUS LLC had already suspended its activities in the country, except for customer service. Now Yanmar has come to the conclusion that "in the current circumstances, it is impossible to continue our business in Russia."

Yanmar came to Russia in February 2014. Yanmar RUS LLC, located in Moscow, sells and services industrial equipment, diesel generators, pumps and welding machines. According to SPARK, its revenue in Russia in 2021 amounted to 127.1 million rubles with a net profit of 65.6 million rubles. In 2022, revenue fell to 10.7 million rubles, net profit to 118 000 rubles.