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INTERNATIONAL > Ukraine Crisis

Japan Tobacco mulls sale of operations in Russia

  • April 29, 2022
  • , Asahi, Yomiuri, Nikkei
  • JMH Summary

Friday’s Nikkei, Yomiuri, and Asahi wrote that Japan Tobacco Inc. is considering selling off its business interests in Russia in light of the growing uncertainty of the economic prospects there on account of the war in Ukraine. The Japanese company surpasses even Philip Morris as the biggest cigarette maker in Russia, with 37% of market share and four factories that are staffed by almost 4,000 workers. JT is reportedly looking for a buyer from overseas, including Russia, that is willing to take over its commercial stakes there.

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