Japan Tobacco (JT) announced that its local Russian group companies will continue operating at present. Related assets are expected to total approximately ¥1.5 trillion, and the company is assessing the impact on future performance.
Japan Tobacco (JT) announced that its local group companies, which are temporarily subject to control under a Russian presidential decree, are "continuing operations at present," and said that related assets total approximately ¥1.5 trillion.
Under the presidential decree, all 7 local companies, including those of JT, are subject to control in Russia. The Russian business is an important market, accounting for approximately 10% of the group's total revenue, and concerns have been raised about the impact if the temporary control continues for an extended period.
JT is working to understand local conditions and gather information, and is considering its future response, including the impact on continuing operations.
JT also announced on the 9th that it would not hold the online briefing for individual investors scheduled for the 26th of this month. A future date has not been decided.