Japan Tobacco has said it is considering selling its operations in Russia after suspending marketing and new investment in the country following the Russian-led invasion of Ukraine.
The Japanese tobacco company announced that its activities could face problems if the conflict continues for a long time.
Japan Tobacco noted that its operations in Russia account for about 8% of total projected revenue for 2022 and about 15% of total adjusted operating profit (estimated).
The company maintains its 2022 earnings forecast, which it announced in mid-February, citing uncertainty about operations in Russia.
The company expected revenue to fall 0.4% to 2.315 trillion. Yen ($ 18.03 billion) and a 4% increase in adjusted operating profit to 635 billion yen in 2022.
Source: Capital
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