Japan Tobacco : Notice of the Announcement by a Subsidiary Company
June 17, 2019 at 02:44 am EDT
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FOR IMMEDIATE RELEASE
Tokyo, June 17, 2019
Notice of the Announcement by a Subsidiary Company
Japan Tobacco Inc. (JT) (TSE: 2914) announces that Torii Pharmaceutical Co., Ltd. (Torii) (TSE:4551), our subsidiary company, made the attached announcement.
There is no change in the 2019 forecast on the JT Group's consolidated performance announced on February 7, 2019, as we have already factored in the impact.
(Attachment)
Results of Voluntary Retirement Program
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Japan Tobacco Inc. is a leading international tobacco company with operations in more than 130 countries. With over 63,000 employees, it manufactures and sells some of the world's best-known brands including Winston, Camel, MEVIUS and LD. The JT Group is committed to investing in Reduced-Risk Products (RRP) and currently markets its tobacco vapor products under the Ploom brand and various e-cigarette products under the Logic brand. The Group is also present in the pharmaceutical and processed food businesses. For more information, visit https://www.jt.com/.
Contacts: Masahito Shirasu, General Manager
Media and Investor Relations Division
Japan Tobacco Inc.
Tokyo: +81-3-5572-4292
E-mail: jt.media.relations@jt.com
Tokyo, June 17, 2019
FOR IMMEDIATE RELEASE
Results of Voluntary Retirement Program
TORII PHARMACEUTICAL CO., LTD. (Torii) (TSE:4551) informs that Torii completed the implementation of the Voluntary Retirement Program, which was announced on February 6, 2019, and the results have been finalized.
Outline of the Voluntary Retirement Program
(1) Target number of applicants Not specified
(2)Eligible person
For Planning & Administration Group and Pharmaceutical Marketing & Promotion Group, employees with at least two years of service as of April 1, 2019;
For Pharmacovigilance & Quality Assurance Group and R & D Group, employees with at least two years of service as of April 1, 2019 and whose age will be 50 or older as of the end of March 2020, excluding those of Manufacture and Logistics Sectors.
(3)Application period
April 15, 2019 to May 31, 2019 (4)Retirement date
September 30, 2019 (5)Preferential treatment
Extra retirement allowance will be paid in addition to the ordinary retirement allowance. In addition, the new career support program will be available for the employees who retire under the program.
Results
Number of applicants:
281 applicants
3. Impact on Financial Performance
The cost arising from the extra retirement allowance and the new career support program will be about 4.1 billion yen, which will be recorded as an extraordinary loss for business structure reform expenses in the financial results of the second quarter of the year. As for the forecast, there is no change as certain part of the cost above was factored in the performance forecast that was announced on February 6, 2019.
4. Other matters
In addition to the Voluntary Retirement Program, the revision of the agreements for contract workers will be carried out. As a result, the number of total employees* will be 800, that was 1,200 in the beginning of the current fiscal year. The number of MR will be 300, although it was 500 in the beginning of the same year.
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The total number of employees includes contract workers, and other workers, in addition to permanent (regular) employees.
Contact for Torii Pharmaceutical Co., Ltd.: Corporate Planning Department (Public Relations)
Japan Tobacco Inc. published this content on 17 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2019 06:43:02 UTC
Japan Tobacco Inc. specializes in manufacturing and marketing of tobacco products. The group's products include primarily cigarettes, cigars, chewing and snuff tobaccos. Net sales break down by activity as follows:
- sale of tobacco products overseas (66%): 460 billion products sold in 2021, under the brands Winston, Camel, Silk Cut, Sobranie, Glamour, etc.;
- sale of tobacco products in Japan (24.1%): 67 billion products sold under the brands Cabin Prestige, Seven Stars, Pianissimo, Mild Seven, etc.;
- distribution of food products (6.3%);
- development of pharmaceutical products (3.5%): primarily for dyslipidemia, osteoporosis and Hepatitis C treatment;
- other (0.1%).
68.5% of net sales are abroad.