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Article: Japan Tobacco Profit Up on Cost Reductions
- Article from:
- AP Online
- Article date:
- February 9, 2006
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
02-09-2006
Dateline: TOKYO
Japan Tobacco Inc., the nation's biggest cigarette maker, said Thursday its profit rose 25 percent for the nine-month period through Dec. 31, citing cost reductions and brisk performance of international tobacco sales.
Japan Tobacco earned 164.03 billion yen ($1.38 billion) for the April-December period, up from 131.4 billion yen the same period a year earlier.
Overall revenues fell 1.3 percent to 3.550 billion yen ($29.83 billion), mainly caused by a decline in tobacco sales in Japan, the company said in a statement. It sold 11 percent fewer cigarettes in Japan in the period and 3.9 percent more overeseas.
Japan's smoking rate dropped for the 10th ...