Japan's JTI reported the continuation of work at the Russian factories.
On the portal for disclosing corporate information of local companies, she stated that business activity in Russia continues.
We will remind you that in the Leningrad region there are two JTI plants for processing raw materials for tobacco, and in St. Petersburg and Rostov-on-Don - for the production of finished products.
The owner of the assets valued them at a little more than 78 billion rubles, incl. Cash and deposits - 18.8 billion rubles, and liabilities - 10.4 billion rubles.
According to JTI estimates, by the end of the year Russia will provide 10% of the company's consolidated revenues and 25% of adjusted operating profit.
The company continues to investigate the impact of introducing external management on its Russian legal entities.
Impact on the Japanese economy.
The Japanese Ministry of Finance is Japan Tobacco's biggest beneficiary with a 37.55% share, and in the last fiscal year it received $655 million in dividends.
This amount constitutes only 0.1% of tax revenues for the budget, but 44% of the revenues of the special fund for industrial and innovative projects.
JTI is currently considering its options, barring the deconsolidation of the Russian business, which without a change in dividend policy would lead to a reduction in payouts.
Considering that Russia is responsible for a quarter of the company's operating profit, the industrial fund's losses could amount to about 10%.
The credit bureau S&P Global Ratings has already included geopolitical risks in the company's assessment and stated that even with the seizure of the assets, it will maintain its financial capabilities.
However, JTI shares fell a record 30% yesterday, and today they have recovered only slightly from the fall - not the best sign for the Japanese stock market.
FMCG reporting on Telegram | up to MAX.