Philip Morris, British American Plan Tobacco Price Hikes in Japan

Source from:  Kyodo News 03/03/2010

Philip Morris Japan KK and British American Tobacco Japan Ltd have asked the Ministry of Finance for permission to raise prices for all of their respective cigarette brands by 20 yen per pack, company officials said Tuesday. The price hikes will be implemented on June 1, pending ministry approval, the officials said. After the hikes, Philip Morris' Marlboro will cost 340 yen per pack and British American's Kent 320 yen. Philip Morris and British American, respectively the second- and third-largest sellers of tobacco in Japan, want to increase prices for the first time in four years to make up for falling sales in the shrinking Japanese tobacco market, the officials said. They also said their plans had nothing to do with the tobacco tax increase planned to take effect from October. Enditem