Wednesday, 16th February 2011
In Business In Japan,
Japan Tobacco considers overseas expansion
Japan Tobacco has confirmed that it plans to increase its overseas profits as the domestic market remains weak.
According to the company's executive vice-president, Yasushi Singhai, Japan Tobacco is set to look at boosting sales in countries such as Russia to help offset a lack of demand in Japan due to increasing taxes.
Mr Shingai told Bloomberg News that overseas profit could increase by ten per cent as the cigarette maker also focuses on its most popular brands such as Mild Seven and Winston.
At present, Eastern Europe is Japan Tobacco's largest overseas market and accounted for 48 per cent of the company's international sales last year.
Other potential new markets for tobacco firm include the Middle East and North Africa.
Japan Tobacco currently employs 25,000 people in 89 offices and 29 factories around the world and its brands are on sale in over 120 countries.
Written by Mark Smith.