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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 Increased revenue diversity Ability to generate strong profits and cash flow Low risk of potential lawsuits compared with global peers Uncertainty over mid- to long-term profitability due to unfavorable business environment in developed countries Uncertainty over sustainability of growth in emerging markets Limited profit contributions from nontobacco businesses Japan Tobacco Inc. (JT) is the world's third-largest tobacco company. The company is expected to maintain its stable revenue bases for at least the next several years, supported by its dominant position and high shares in the Japanese market and expanding business franchise in overseas markets. Tobacco production and sales carry relatively high business risks, because of sensitivity to tightening regulations. Conversely, geographical diversity of the...
Companies mentioned in this report are: Japan Tobacco Inc.
Action: Review
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