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    2914   JP3726800000

JAPAN TOBACCO INC.

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Belgium charges cigarette makers for exchanging information on prices

10/01/2021 | 09:43am EST
FILE PHOTO: Lucky Strike cigarettes are seen during manufacturing process in BAT Cigarette Factory in Bayreuth

BRUSSELS (Reuters) - The Belgian Competition Authority (BCA) said on Friday it had charged four cigarette companies with breaching competition law by exchanging information of future prices to wholesalers.

The authority said in a statement the companies were subsidiaries of Philip Morris, Imperial Brands, Japan Tobacco and British American Tobacco, accounting for 90% of cigarette consumption in Belgium.

"The competition prosecutor alleges the existence of anti-competitive practices that lasted for several years and consisted in repeated exchanges of information on their future prices through wholesalers," the BCA said in an emailed statement.

It said that, through the wholesalers, they received information on the future prices of competitors.

A formal inquiry started in May 2017, followed by raids a month later as part of the investigation.

(Reporting by Marine Strauss @StraussMarine; editing by Philip Blenkinsop)

By Marine Strauss


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BRITISH AMERICAN TOBACCO PLC 0.76% 2704.5 Delayed Quote.-0.89%
IMPERIAL BRANDS PLC -0.02% 1588.34 Delayed Quote.3.42%
JAPAN TOBACCO INC. -0.26% 2345 End-of-day quote.11.56%
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Analyst Recommendations on JAPAN TOBACCO INC.
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Financials
Sales 2021 2 261 B 19 937 M 19 937 M
Net income 2021 320 B 2 824 M 2 824 M
Net Debt 2021 376 B 3 316 M 3 316 M
P/E ratio 2021 13,0x
Yield 2021 5,86%
Capitalization 4 143 B 36 393 M 36 530 M
EV / Sales 2021 2,00x
EV / Sales 2022 1,93x
Nbr of Employees 58 300
Free-Float 54,2%
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Technical analysis trends JAPAN TOBACCO INC.
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 2 345,00 JPY
Average target price 2 507,29 JPY
Spread / Average Target 6,92%
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Managers and Directors
Masamichi Terabatake President, CEO & Representative Director
Naohiro Minami CFO, Representative Director & Executive VP
Yasutake Tango Chairman
Hiroyuki Miki Executive Officer, Head-Research & Development
Kazuhito Yamashita Director, Head-Compliance & General Affairs
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