Summary: Japan Tobacco Inc.

1784 word report published Jan 30, 2012

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Abstract:

The rating on Japan Tobacco Inc. (JT; A+/Stable/--) reflects its stable cash flow, backed by a dominant position in Japan; the increased geographic diversity of its revenue sources; and an improving debt-to-capital ratio, backed by steady debt repayment. Constraints on the rating are pressure on the company's medium to long-term profitability, due mainly to weak demand in Japan and major European countries, and low profits in its nontobacco businesses. JT is the world's third-largest tobacco company. Tobacco production and sales attract relatively high industry risk because they are sensitive to government regulation and the risk of litigation associated with health damage. Nevertheless, JT's overwhelming comparative advantage in the Japanese market and its strong product lineup of globally recognized brands in

Brief Excerpt:

RESEARCH Ratings Definitions PDF Summary: Japan Tobacco Inc. Publication date: 30-Jan-2012 Primary Credit Analyst: Machiko Amano, Tokyo (81) 3-4550-8659; machiko_amano@standardandpoors.com Secondary Contact: Makiko Yoshimura, Tokyo...

Report Type:

Summary

Ticker:

2914@JP

Issuer:

Japan Tobacco Inc.

Sector:

Global Issuers

Country:

Japan

Region:

Europe, Middle East, Africa

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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Summary: Japan Tobacco Inc. $175.00
The ratings on Japan Tobacco Inc. (JT; A+/Stable/--) reflect its stable cash flow, backed by a dominant position in Japan, increased geographic diversity of its revenue and profit sources, and an improving debt-to-capital ratio, backed by steady ...
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