Japan Tobacco to Continue Business in Russian Market
According to a report by TASS, the President of Japan Tobacco (JT), Masamichi Terabatake, stated in an interview with Kyodo News that JT intends to continue its tobacco business operations in the Russian market.
Teruhito Terahata emphasizes that JT still has a choice in whether or not to sell its operations in Russia. However, they desire to maintain their presence in the Russian market for as long as possible.
In addition, Masamichi Terahata mentioned that the company intends to retain its employees in Ukraine and has already begun partially restoring production.
In Russia, JT owns four factories with a total workforce of 4,000 employees, including production and management personnel.
On March 10, 2022, Japan Tobacco Russia subsidiary announced the suspension of new investments and additional marketing activities in Russia.
Last year, the company temporarily suspended operations in the central Ukrainian city of Kremenchyhy.
The products of Japan Tobacco are currently sold in 130 countries worldwide. It is reported that the company entered the cigarette market in Russia in 1992, and over the past 20 years, its investments in Russia have exceeded 4.6 billion US dollars.
References:
[1] Japan Tobacco plans to maintain its business in Russia
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