President Vladimir Putin has seized control of Japan Tobacco’s Russian operations via a decree, placing the business under temporary management by AS “Industrial Assets”, Novaja Gazeta reported.
Japan Tobacco owns several popular smoker brands including “Winston”, “Camel”, “Donskoy Tabak”, “Russkiy Stil”, and LD. In 2023, the global holding’s management acknowledged that the Russian market accounted for approximately 20% of its total profit, which was then equivalent to about 600 million US dollars annually.
The decree was published a week after reports emerged that Japanese diplomats were finally allowed to meet with Japanese journalist Yuki Imai, who had been detained on suspicion of espionage. Imai’s arrest marked the latest episode in the deterioration of relations between the two countries.
The Japanese government denies the accusations against Yuki Imai. “There is no truth to these accusations,” Japanese Prime Minister Sanaye Takaiichi announced on October 15, promising that the Japanese Ministry of Foreign Affairs would seek a personal meeting with the detained journalist. However, this proved difficult to achieve.
“Jautājums nav par to, vai japāņu žurnālists var strādāt izlūkdienestos. Vēsture pārliecinoši pierāda, ka viņš to var un arī dara. Mūsu gadījumā tiesai būs jāveic galīgais apstākļu juridiskais izvērtējums.” – Maria Zakharova, Russian Foreign Ministry spokeswoman
Only on October 27 were Japanese diplomats allowed to meet with Yuki Imai for the first time. Seven days later, Japan Tobacco’s Russian business was “temporarily” confiscated.
The move places the company’s Russian assets under the control of AS “Industrial Assets”. The decree designates this company as the new temporary operator for Japan Tobacco’s business in the country.
- October 15: Japanese Prime Minister Sanaye Takaiichi denies espionage accusations against journalist Yuki Imai and announces efforts to secure a meeting.
- October 27: Japanese diplomats are permitted their first meeting with detained journalist Yuki Imai.
- Vladimirs Putins ar dekrētu nodevis pasaulslavenā tabakas uzņēmuma “Japan Tobacco” Krievijas aktīvus pagaidu pārvaldībā, par jauno operatoru kļūstot AS “Industrial Assets”.
🔴 Putin seizes Japan Tobacco's Russian operations, 40% of cigarette market Russian President Vladimir Putin transferred Japan Tobacco International's Russian assets to state-linked holding company AO Promyshlennye aktivy by decree Thursday. The seizure covers four factories in… pic.twitter.com/YYilZjbNW9
Putin transferred the assets of Japan Tobacco International (JTI) to temporary management. This is evidenced by a decree published today. Thus, the company became the latest foreign business to lose control over its local operations as part of the Kremlin’s campaign. pic.twitter.com/P4zj273Evd
Putin places Japan Tobacco's Russia assets under local management https://t.co/YLrvyHfOw1
