Japan Tobacco (JAPAY) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
TOKYO (Reuters) -Japan Tobacco (JT) said on Thursday it was considering selling its Russian operations after suspending investment and marketing activities in the country last month following Moscow's invasion of Ukraine. The announcement by JT, market leader in Russia, came after it said in March it would continue manufacturing in the country, where it has four factories and 4,000 employees. That announcement drew criticism after many global brands pulled out over the invasion of Ukraine and governments, including Japan, levied heavy sanctions against Moscow.
Japan's government has severed banking and trade ties with Russia over Moscow's invasion of Ukraine, but a tobacco company in which it owns a one-third stake is still operating there and churning out Winston and Camel brand cigarettes. The government's inaction on Japan Tobacco Inc's puts the administration in an awkward position as it steps up sanctions. WHY IS RUSSIA SO IMPORTANT TO JAPAN TOBACCO?