Japan Tobacco International (JTI), one of the world’s largest manufacturers of tobacco products, has announced that it is considering selling its business in Russia.
“Given the complex and unpredictable circumstances, JT Group continues to evaluate various options for its Russian business, including the potential transfer of ownership of it,” the statement said.
In March, JTI announced the suspension of investment and marketing activities in Russia. The Group notes that it remains responsible for its employees in Russia, including ensuring their employment. The company employs 4,000 people in the country. In the first quarter, JTI shipments decreased by 2.9%, while the volume of products containing heated tobacco increased. Since the beginning of the year, the total market share of tobacco products has decreased by 0.1 percentage points – to 36.6%. Japan Tobacco International Group operates in more than 70 countries. Among the company’s brands are Winston, Camel, Sobranie and LD cigarettes, Russian brands “Russian Style”, “Peter I” and “Troika”.