The new head of Japan Tobacco Inc has indicated that he wants to focus on taking more market share in developed countries, entering new emerging markets and further developing the company’s next-generation tobacco products, according to a story by Lisa Du for Bloomberg News.
Masamichi Terabatake took over as JT’s CEO on January 1.
Previously the deputy CEO of Geneva-based Japan Tobacco International SA, Terabatake took over from Mitsuomi Koizumi to become the fifth head of JT since it was privatized in 1985.
Du said the challenges facing Terabatake and JT included tighter global regulations, slowing cigarette demand and competition to offer ‘high-tech smoking devices’.
In a report in November that correctly predicted the promotion of Terabatake, The Japan Times said the leadership change was being made as JT, which accounted for about 60 percent of the domestic cigarette market, sought to expand its global reach amid falling demand at home caused by a health boom and the growing popularity of heat-not-burn tobacco products.
Du’s piece is at: https://www.bloomberg.com/news/articles/2018-01-04/as-japanese-smoke-less-tobacco-giant-s-new-ceo-looks-abroad.
Interesting times
