TOKYO – Major Japanese companies with supply chains linked to Venezuela are closely monitoring developments in the South American country after the
United States captured Venezuelan President Nicolas Maduro
in a military operation over the weekend.
With automobiles and cocoa beans forming the bulk of trade with Venezuela, companies such as Toyota Motor and Meiji are focused on information gathering, although there currently has been no reported impact on local employees or facilities.
According to the Japan External Trade Organization, Japan’s exports to Venezuela in 2024 rose 16.1 per cent from the previous year to US$69.41 million (S$89.3 million), with passenger cars, trucks and auto parts accounting for the largest share.
Meanwhile, imports, boosted by active trade in cocoa beans and aluminium, increased 13.9 per cent to US$15.47 million.
Toyota said its expatriate staff and their families have been confirmed safe, and employees have been instructed to remain at home or work remotely.
Meiji, which uses Venezuelan cocoa beans in some of its products, said that supply would not be impacted as it has secured sufficient inventories. The food company added that it will continue to monitor cocoa bean prices and other developments.
Trading house Itochu, which imports cocoa beans and exports finished trucks and parts from Japan to local companies, also confirmed its supply chain has not been impacted. KYODO NEWS
AloJapan.com