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Japan Tobacco Inc.
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Dominant position in Japan's tobacco market Steady income from a number of overseas flagship brands Increased revenue diversity Ability to generate strong profits and cash flow Low risk of potential lawsuits Uncertainty over mid- to long-term profitability Uncertainty over emerging markets Limited profit contributions from non-tobacco businesses In fiscal 2007 (ended March 31, 2008), Japan Tobacco Inc. (JT) enjoyed a 34% increase in consolidated sales and a 30% increase in operating profit from the previous year. Although the company's domestic tobacco business suffered a decrease in revenues and profits due to a 4.1% decline in sales, the overseas tobacco business enjoyed material increases in both revenues and profits due to the consolidation of U.K.-based Gallaher Group PLC JT, which was...
Companies mentioned in this report are: Japan Tobacco Inc.
Action: Review
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