JT Sold for about 25 billion yen in a tobacco manufacturer in Korea Dec. 5 22:44
JT = Japan Tobacco Inc. sold its shares in a major Korean tobacco manufacturer for about 25 billion yen. “It is not the impact of the worsening of Japan-Korea relations”.
JT had approximately 2% of the shares of “KT & G”, a major tobacco manufacturer in South Korea, and sold all of it for approximately ¥ 25 billion.
JT acquired the shares of KT & G in 1999, and has been consigning tobacco production for the local market and jointly developing products.
However, because the sales share in South Korea was sluggish, and the production outsourcing to this company had already been cancelled, it was sold because the merit of owning shares became scarce.
JT explains, “It is not the impact of worsening relations between Japan and Korea.”
JT sells cigarettes in more than 130 countries and regions around the world. However, as demand for health is expected to decline due to growing health consciousness, JT has announced a policy of reducing the number of overseas subsidiaries by approximately 2,400. The