GENERICO.ruEconomicsMedia: large Japanese business decided to stay in Russia

Media: large Japanese business decided to stay in Russia

MOSCOW, May 1. Japan Tobacco Chief Executive Masamichi Terabatake said the company would maintain business in Russia to satisfy investors, his words were reported by the Financial Times.
“If I, for example, say that we are going out of business, investors may face a risk In the worst case, there is even a risk of litigation with shareholders,” he said.
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Initially, the company announced the possibility of selling its business in Russia, but in the end it simply suspended all investment and marketing activities. The country accounted for about 20 percent of the company's total profits, Terabatake said.

Japan Tobacco began business in Russia in 1999. The company sells cigarettes from both international brands, such as Winston and Camel, and domestic ones, including Russian Style and Kiss. Japan Tobacco remains one of the largest foreign companies in Russia – it has four factories and more than four thousand employees. In 2023, the company's total profit was three billion dollars.

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