Jessica Miller | May 10, 2013
Japan Tobacco International (JTI) is anticipating the tobacco industry to keep on being really complicated this year because of the ongoing sale of illicit cigarettes and the influence from particular local brands being sold lower than the Government required minimum cigarette price.
Jessica Miller | March 22, 2013
Japan’s government is planning to start the sale of a part of its stake in Japan Tobacco, a step that affect the company’s stock as shareholders sold in advance of the $10 billion offering. Shares in the world’s third-biggest cigarette company dropped as much as 5.9 %, after Reuters documented that the sale would start in the approaching days. The offer, the greatest deal since the U.S. Treasury’s $20.7 billion sale of American International Group shares in September, occurs as Japanese equities float near their greatest levels during four years.
Jessica Miller | November 19, 2012
The number of cigarettes bought in the UK which have avoided submission and taxes is set to increase, one of the country’s top three companies has warned. Japan Tobacco International, the owner of UK-based Gallaher, conducted a secret shopping trip around north-west London that revealed a big range of fake cigarettes and rolling tobacco being sold for approximately half the retail price. These include well-known smoking brands where the pack design is written in Spanish but the tax stamp is Belgian and rolling tobacco which contains large amounts of impurities. The firm believes that after two of the largest duty hikes in the past two Budgets – a total of 70p on a package of 20 – the rate of smuggling and production of counterfeit cigarettes will rise.
Jessica Miller | February 9, 2012
The head of Japan Tobacco (2914.T) said on Wednesday that profits at the world’s third-largest cigarette maker would likely increase next financial year, as business bounces back after the natural disasters that hit Japan in March 2011. President Hiroshi Kimura also told Reuters in an interview the company may issue a limited amount of debt to help fund a buyback of government-owned shares. JT on Monday lifted its operating profit forecast for the year to March to 365 billion yen ($4.75 billion), a 9.5 percent year-on-year rise, partly as sales picked up following domestic cheap Cigaronne cigarette shipment suspensions on a shortage of materials such as filters and paper after the March 11 earthquake and tsunami.