Japan Tobacco Net Profit up

Source from:  tobaccointernational.com Tokyo  07/04/2008

Japan Tobacco Inc. (JT) said its net profit rose 13.3% over the course of 2007, and the disadvantage of weaker business in Japan was offset by the acquisition of Gallaher Group Plc, makers of Benson & Hedges and Silk Cut cigarettes, and Hamlet cigars. Overseas business doubled its operating profit to 205.3 bn yen, with focus directed at expanding markets in eastern Europe, Russia, Ukraine, and Kazakhstan. JT may possibly also raise the price of domestic cigarettes, marking its first non-tax related price hike in over a decade. This hike coincides with other price increase throughout Japan on commodities from gas to beer to noodles. JT spokeswoman Yukiko Seto said that there is a motion to move consumers towards higher-cost value-added products, and if this tactic did not reduce JT's costs, then it would "consider" raising prices. Enditem