Dependence on Tobacco Sales Revenue in the Japanese Market
First written in FY2017. 1 of 2 entries say "Reframed", first in FY2021. Latest entry: FY2021.
Japan Tobacco moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 5 of 18 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2021ReframedAnnual report
「Among these markets, tobacco revenue from major markets including Japan, Russia and the UK makes a significant contribution to the Group’s revenue.」
The risk assessment has broadened from dependence on the Japanese market to dependence on multiple major markets, including Japan, Russia and the UK, for revenue. - FY2017First statedAnnual report
「Our Group operates in more than 70 countries and regions, primarily in the tobacco business, and sells products in more than 130 countries and regions. Among these markets, tobacco revenue from Japan makes a considerable contribution to the Group’s revenue. Accordingly, any adverse impact on the Japanese market could adversely affect the Group’s business performance.」
Despite its global operations, the Group identifies its considerable dependence on tobacco revenue from the Japanese market as a concentration risk affecting consolidated performance.