Japan Tobacco Inc. shares closed at Tokyo’s daily lower limit Monday after Russian orders placed all seven local entities under temporary administration, with Russia accounting for 25% of forecast 2026 adjusted operating profit.
The shares ended at ¥5,269, down ¥1,000, or 15.95%, from the Nov. 6 close of ¥6,269. Reuters reported that heavy sell orders left the stock untraded earlier Monday.
In its revised full-year forecast for 2026, Japan Tobacco put Russia at about 10% of group revenue and 25% of adjusted operating profit. The company said Nov. 9 that its Russian business remained in operation and that it was assessing the orders’ effect on group results. Its disclosure did not quantify a loss.
Japan Tobacco said a Nov. 5 order covered four manufacturing entities. A Nov. 6 order added JTI Russia LLC, JTI Innovative Products LLC and a dormant company, bringing all seven local entities under temporary administration. The expansion follows the earlier order covering four Japan Tobacco-linked stakes.
The company’s balance sheet as of Sept. 30, 2026, included about ¥1.5 trillion in Russia-related assets, including goodwill. Cash and deposits made up about ¥360 billion of that amount, while related liabilities were about ¥200 billion.
Finance Minister Satsuki Katayama said Nov. 6 that Japan had protested to Russia and sought the measure’s withdrawal. Japan Tobacco lists the Minister of Finance as holding 37.55% of its shares as of Sept. 30, 2026.
In March 2022, Japan Tobacco said JTI would stop new investment and marketing activity in Russia. The company’s calendar lists its 2026 results for Feb. 10, 2027, and it said it would disclose material developments as they arise.
For Nov. 10, the Tokyo Stock Exchange set the lower price bound at ¥1,269, allowing a ¥4,000 decline from the ¥5,269 base price.
