Japan Tobacco (JT) said Russia has now placed all of its group's local companies under temporary management, widening a step it disclosed on 6 November. The company says it is still operating in the country and is working out what the measure means for its results.
The new disclosure builds on Earlier Tokyo Brief coverage.
What the second decree added
In its 9 November follow-up notice, JT said the four manufacturing companies it reported earlier were joined by three others, which became subject to temporary management under a Russian presidential decree dated 6 November.
The earlier decree, dated 5 November, covered Petro LLC, JTI Donskoy Tabak LLC, JTI Yelets LLC and Cres Neva LLC. The 6 November decree covered JTI Russia LLC, JTI Innovative Products LLC and one dormant company.
JT said that, as a result, all of the group's Russian local companies are under temporary management, but that it is continuing business "at present". The notice does not describe how the management arrangement works in practice.
How much of JT is exposed
JT gave reference figures on the scale of the Russian business. In the full-year revised forecast it published with its third-quarter results for the current fiscal year, the Russian market accounts for about 10% of group revenue and about 25% of adjusted operating profit.
On the balance sheet, JT put the assets tied to its Russian business in its consolidated statements at about ¥1.5tn at the end of September 2026, goodwill included. About ¥360bn of that is cash and deposits. Liabilities are about ¥200bn. JT described all of these as approximate figures as of end-September.
| Measure | JT figure |
|---|---|
| Share of group revenue (forecast) | About 10% |
| Share of group adjusted operating profit (forecast) | About 25% |
| Assets, goodwill included | About ¥1.5tn |
| Of which cash and deposits | About ¥360bn |
| Liabilities | About ¥200bn |
What JT has not settled
JT said it must keep checking how the management arrangement will be applied, so it is examining the effect on group results. It said it is gathering information on the local situation and considering the responses open to it and their impact.
The notice does not report an impairment or a transfer of ownership, and it gives no revised earnings forecast. JT said it will announce promptly any matter that requires disclosure.