Japan Tobacco's Russian Subsidiary Reports Improved Financial Performance

Apr.23.2023

Japan Tobacco's Russian subsidiary reports increased profits and revenue in 2022.

According to reports on April 20th, Japan Tobacco's subsidiary, Russia Tobacco Company (INTERFAX.RU), is expecting improved financial performance in 2022. The company is the largest tobacco manufacturer in Russia, owned by Japan Tobacco International.

The company reported a revenue of 430.8 billion rubles, representing a 25.4% increase from 2021, with a net profit of 43.5 billion rubles, which grew 1.53 times from the previous year.

The company's tobacco products are manufactured by the "Petro" and "J.T.I. Donskoy Tabak" factories and distributed through the AO TK Megapolis distributor. The company has branches in 25 cities across Russia, with some regions having their own independent branches.

Japan Tobacco International (JTI) holds shares in its Russian subsidiary through JT International Germany GmbH. JTI owns a portfolio of brands, including Winston, LD, Camel, Sobranie, Donskoy Tabak, Kiss, Play, and Peter the Great.

Japan Tobacco's sales in South Korea have decreased by 1.3% due to a lack of new distribution channels for its tobacco products.

Japan Tobacco plans to increase its investment in Ploom X and aims to expand coverage to at least 20 countries by the end of 2024.

References:

The Russian subsidiary of Japan Tobacco, known as "Dochka," has increased its net profits by more than 1.5 times in 2022.

#Europe #Open system e-cigarettes #United Kingdom #Market #Report

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