Japanese carmaker leaving Russia ...News

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Japanese carmaker leaving Russia
Mazda will transfer its stake to a joint venture partner Japanese carmaker Mazda is winding down its business in Russia, the company announced in its financial report on Thursday. “The Company has decided to transfer all of its equity interest in Mazda Sollers Manufacturing Rus [MSMR], an automobile manufacturing and sales company in Vladivostok, Russia, to Sollers PJSC, our joint venture partner, and signed a transfer agreement on October 24, 2022,” the report stated. According to Mazda, the transfer will be carried out for a symbolic €1. The company also noted it expects to record “an extraordinary loss” of abou

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