Japan Tech Giants Sony, Nintendo Join Growing Exodus from Russia
Sony Group Corp.’s PlayStation business and Nintendo Co. have suspended shipments to Russia.
(Bloomberg) -- Sony Group Corp.’s PlayStation business and Nintendo Co. have suspended shipments to Russia, joining an exodus of multinational companies withdrawing from the country in response to its invasion of Ukraine.
Tokyo-based Sony said on Thursday that its online PlayStation Store as well as the launch of its latest marquee title, Gran Turismo 7, have also been suspended in Russia. Nintendo made the same decision Wednesday night, a spokesperson said via phone, citing logistics and payment-handling challenges. The company had already put its Russian eShop into maintenance mode after it became unable to process payments in rubles. Xbox maker Microsoft Corp. similarly halted all sales of new products and services in Russia several days earlier.
The list of businesses cutting ties or reviewing their operations in Russia keeps growing as governments around the world ratchet up sanctions against the country. Some companies have concluded that the risks, both reputational and financial, are too great to continue operations there.
Sony was up as much as 7.5% and Nintendo rose as much as 1.8% amid a broader rally on Thursday.
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