Putin seizes Nestlé, Auchan assets, putting 200 Japanese firms on edge

Moscow has seized the Russian assets of three Western companies, signaling growing risk for more than 200 Japanese firms still operating in the country. The Kremlin announced Friday that the assets of Swiss food giant Nestlé, French retailer Auchan, and home improvement chain Lemana Pro were transferred to a Russian entity, LEV Management. President Vladimir Putin signed the decree a day earlier. Kremlin spokesman Dmitry Peskov called the companies' home countries "unfriendly nations" — a label Russia uses for states that imposed sanctions over its war in Ukraine. The move deepens uncertainty for Japanese companies that have stayed in Russia despite the conflict. With diplomatic ties between Tokyo and Moscow worsening, these firms now face the prospect of similar seizures. The transfer of assets from Nestlé, Auchan, and Lemana Pro marks one of the largest single rounds of corporate expropriation since the war began.