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Russian authorities have placed all seven Russian legal entities of Japan Tobacco under the temporary management of JSC Industrial Assets. Bloomberg assesses the risks to Japan's budget: the state owns about 37% of JT shares and received about $655 million in dividends for the fiscal year.
Aziz KarimovAfter Japan Tobacco's Russian assets were placed under temporary management in Russia, the company's shares collapsed by more than 30% — a record drop. Japan's Ministry of Finance, a major shareholder in JTI, received $655 million in dividends in the last fiscal year, and Bloomberg links the loss of these dividends to risks for the government's spending plans. Tokyo lodged a protest and sent a delegation of officials to Russia.
Otabek Yusupov
