Japan Tobacco shares suffered a record drop after seizing a business in Russia that accounted for a quarter of operating profits Japan Tobacco shares plunged 19.3% on Friday, the biggest daily drop in the company's history, Bloomberg reports. This happened after Vladimir Putin took the Russian assets of Japan International Tobacco. The company controlled up to 40% of the Russian market, producing cigarettes under the brands Winston, Gamel, Soverni and LD. "We lodged a protest with the Russian government and called on it to take immediate action, which is to reverse this decision," Trade Minister Ryosai Akazawa said at a press conference on Friday. According to government spokesperson Kihara Minoru, two senior officials who are currently in Russia, as well as the country's ambassador, demanded the return of assets. More details.

Japan Tobacco shares suffered a record drop after seizing a business in Russia that accounted for a quarter of operating profits Japan Tobacco shares plunged 19.3% on Friday, the biggest daily drop in the company's history, Bloomberg reports. This happened after Vladimir Putin took the Russian assets of Japan International Tobacco. The company controlled up to 40% of the Russian market, producing cigarettes under the brands Winston, Gamel, Soverni and LD. "We lodged a protest with the Russian government and called on it to take immediate action, which is to reverse this decision," Trade Minister Ryosai Akazawa said at a press conference on Friday. According to government spokesperson Kihara Minoru, two senior officials who are currently in Russia, as well as the country's ambassador, demanded the return of assets. More details.