TOKYO, April 30, 2009 --- Japan Tobacco Inc. (JT) (TSE: 2914) announced today that the company posted record net sales and EBITDA1 for the fiscal year that ended March 31, 2009. Top-line growth achieved by the international tobacco business and consolidation of Gallaher contributed to strong results for the period.
“Growth in our Global Flagship Brands in the international tobacco business, in addition to two consecutive years of increased domestic market share, has contributed to a strong year of achievement,” said Hiroshi Kimura, President and CEO of JT. “We aim to carry our growth momentum into another year of progress, both with the continued success of our international tobacco business, and further gains in market share domestically.”
Net sales and EBITDA increased to ¥6,832.3 billion and ¥646.2 billion, respectively, as a result of top-line growth by the international tobacco business and the consolidation of Gallaher and the Katokichi Group. Operating income and net income4 decreased to ¥363.8 billion and ¥123.4 billion, respectively, largely due to goodwill amortization related to acquisition of Gallaher and the Katokichi Group. The company’s board is recommending a year-end dividend of ¥2,800 to an annualized rate of ¥5,400 per share. The goodwill amortization exceeds 20 percent.