Highlights
First half adjusted operating profit at constant FX increased 3.1% year on year.
Strong performance in the international tobacco business more than offset headwinds in the Japanese domestic tobacco business.
Forecast for adjusted operating profit at constant FX remains unchanged.
As stated in the “Business Plan 2018”, the Company announced an interim dividend of JPY 75 per share.
Key business segment information:
International tobacco business
Adjusted operating profit at constant FX grew 13.2% driven by pricing gains across clusters.
Acquisitions in Ethiopia, Indonesia and the Philippines bolstered shipment volume, supporting geographic expansion.
Key markets update:
Russia: Solid pricing and market share gains. Completed the Donskoy Tabak acquisition
On track to achieve 2018 profit target through top-line growth
Japanese domestic tobacco business
Adjusted operating profit was negatively impacted by cigarette industry volume decline.
RRP sales volume and its related revenue increased sequentially due to Ploom TECH’s nationwide roll-out in June.
2018 outlook for cigarette and RRP market sizes is revised to reflect current dynamics. [...]