Japan Tobacco Inc : Tobacco Council Releases Determinations for 2013 Tobacco Cultivation

Source from:  4-traders  11/15/2012

Japan Tobacco Inc. (JT) (TSE: 2914) announced today that that the Leaf Tobacco Deliberative Council, chaired by Yoshio Kobayashi, released its annual determinations for domestic leaf tobacco cultivation area and grower prices for 2013, in response to a proposal submitted by JT earlier in the day.

The Council was in general agreement with JT's proposal, and determined that in 2013, the domestic tobacco cultivation area will be set at 9,245 hectares. The leaf tobacco grower price will be set at an average for all leaf types of JPY 1,906.47 per kilogram, an increase of 0.84 percent compared to that of the previous year.

JT will undertake its operations in 2013 based on the Council's determinations.

Cultivation area for each type of leaf tobacco in 2013

About The Leaf Tobacco Deliberative Council

The Leaf Tobacco Deliberative Council is a council which confers on important matters concerning the cultivation and purchase of domestically grown leaf tobacco in response to inquiries by JT representatives. The council consists of no more than 11 members, appointed by JT with the approval of the Minister of Finance from among representatives of domestic leaf tobacco growers and academic appointees.

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Japan Tobacco Inc. is a leading international tobacco product company. Its products are sold in over 120 countries and its internationally recognized cigarette brands include Winston, Camel, Mild Seven and Benson & Hedges. With diversified operations, JT is also actively present in pharmaceuticals and foods. The company's revenue was JPY 2.034 trillion (US$24,745 million(*)) in the fiscal year ended March 31, 2012.

* Translated at the rate of JPY 82.19 per $1, as of March 30, 2012 Enditem