Japanese conglomerate Toshiba is to suspend sales to Russia due to the country’s invasion of Ukraine.
“We are very concerned about the situation in Ukraine, and feel the greatest sympathy for the victims of this conflict,” the company said in a statement. “Toshiba Group has suspended order taking and investments in Russia. We will continue to monitor the situation, and strongly hope for an early end to the conflict.
Toshiba said its Russian revenues were expected to amount to around 0.2 percent of the group’s consolidated revenue for the fiscal year ending March 2022, and notes that the impact on its overall business is “minimal”.
Toshiba group also said it will donate a total of 100 million yen to the United Nations High Commissioner for Refugees(UNHCR) and Japan Platform, a non-profit organization, to provide humanitarian aid to those affected.
Toshiba offerings include quantum key distribution, semiconductors and storage products, a number of building solutions, as well as energy and robotics offerings. The company is currently exploring options around a potential sale to take the company private.
Intel, AMD, IBM, and Nvidia, as well as contract chipmaker TSMC, have all paused sales to Russia. Cisco, Google, Microsoft, and Oracle have suspended work in the country, along with Apple, Netflix, Sabre, Ericsson, Infosys, PayPal, Mastercard, and Visa. This week SAP said that it is further winding down its operations in Russia.