"Most Japanese companies are feeling the raw material supply crisis caused by the conflict between Russia and Ukraine." Kyodo News reported on June 5, citing the latest statistics from the Imperial Data Bank, a Japanese private credit research agency, that more than 10,000 companies in major industries were involved this time. More than half of the companies in the survey said they were experiencing pressure from insufficient supply of raw materials and rising commodity prices.
As a result of Japan's ban on importing Russian timber, the timber and furniture industries bear the brunt, with 88.3% of timber construction companies and 83.6% of timber and bamboo wholesalers saying it is difficult to obtain sufficient stocks. In addition, 90.7% of information technology service companies, including software developers, said they could no longer afford higher costs, and the same percentage of companies in the life service industry held the same view. Rising electricity and fuel prices have hit these industries hard.
