[ad_1]
Japanese manufacturers are starting to explore alternatives to Russia in sourcing their raw materials, as concerns about supply stability are growing due to the disruptions in production and logistics associated with the country’s “special military operation” in Ukraine.
Material prices on international markets are rising, making it difficult for makers to switch suppliers.
“If the situation drags out, the raw materials we used to purchase from Russia and Ukraine will need to be obtained through alternative avenues. We are preparing for that,” Nippon Steel Corp executive vice-president Shinichi Nakamura told reporters last week after discussing the situation in Ukraine with officials of the Ministry of Economy, Trade, and Industry.
Nippon Steel imports iron ore from both Russia and Ukraine, as well as coking coal from Russia. The two countries account for about 14 per cent of the company’s total iron ore pellet imports.
For now, the company will continue production using existing inventory, but it plans to increase procurement from Australia, Brazil, and elsewhere if the fighting continues.
JFE Steel Corp imports 18 per cent of its coking coal from Russia and is considering alternative supply options such as Australia and Canada.
Used-car prices soaring in Japan
NHK – Mar 14
The global semiconductor shortage has been making new cars hard to come by and now it is affecting used vehicles. The limited supply has sent prices for previously-owned cars soaring in Japan.
No easy exit for Japan from Russia’s Sakhalin-2 LNG project
Nikkei – Mar 13
Despite Shell exiting a landmark LNG plant that has served as a symbol of cooperation between Tokyo and Moscow, Japanese trading houses Mitsui & Co. and Mitsubishi Corp. are sticking with the Sakhalin-2 project, the source of nearly 10% of Japan’s liquefied natural gas imports.
Sony and Nintendo halt business in Russia
Al Jazeera – Mar 10
Japanese gaming giants Sony and Nintendo have halted shipments to Russia, joining a growing list of global brands that are exiting the country following Moscow’s invasion of Ukraine.
Uniqlo to continue selling clothes in Russia
Nikkei – Mar 10
Uniqlo owner Fast Retailing Co and Japan Tobacco Inc on Thursday said they would suspend operations in Russia, in a U-turn by the Japanese consumer giants which had indicated they would stay in the market after Moscow’s invasion of Ukraine.
Japan’s imported wheat price to hit 14-yr high amid Ukraine crisis
Kyodo – Mar 09
Japan’s farm ministry said Wednesday it will raise the average price at which it sells imported wheat to the country’s milling companies by 17.3 percent from April, nearing a 14-year high, as Russia’s invasion of Ukraine stokes fears of global supply disruptions.
Why Japanese Fruit is SO Expensive
Sharmeleon – Mar 09
Every wondered why Japanese fruit is so expensive? You might’ve noticed that fruit in Japanese grocery stores can be VERY pricey.
[ad_2]
Source link