Japan Tobacco : Results of the Voluntary Retirement Program towards Strengthening JT's Tobacco Business Operating Model
February 14, 2022 at 01:33 am EST
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FOR IMMEDIATE RELEASE
Tokyo, February 14, 2022
Results of the Voluntary Retirement Program
towards Strengthening JT's Tobacco Business Operating Model
Japan Tobacco Inc. (JT) (TSE: 2914) has concluded its voluntary retirement program, which it announced in the press release "JT Group Announces New Operating Model - Company Aims to Strengthen its Tobacco Business" dated February 9, 2021, as a measure towards its new operating model to strengthen the competitiveness and profitability of its tobacco business.
The overview and results of the voluntary retirement program and its financial impact on JT's business performance are as follows.
1. Overview
JT made voluntary retirement offers to employees aged 46 or above, field partners (part-timers who support the sales activities), and senior employees (contractors or part-timers who are reemployed after their retirement) in its tobacco business and corporate division in order to optimize its workforce. The retirement, in principle, will come into effect from March 2022.
Results (expected number of retirees)
JT employees: 1,169
Field partners: 1,584
Senior employees: 115
Financial impact on business performance
The Group has accounted for JPY 34.4 billion of expenses associated with this measure in the fiscal year ending December 31, 2021.
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Japan Tobacco Inc. is a leading international tobacco company with operations in more than 130 countries. With approximately 58,000 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 heated tobacco products under its Ploom brand and various e-cigarette products under its Logic brand. The Group is also present in the pharmaceutical and processed food businesses. For more information, visit https://www.jt.com/.
Contacts:
Dinesh Babu Thotakura, General Manager
Kana Miyauchi, Associate Manager
Media and Investor Relations Division
Japan Tobacco Inc.
Tokyo: +81-3-6636-2914
E-mail: jt.media.relations@jt.com
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Japan Tobacco Inc. published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 06:31:58 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.
JAPAN TOBACCO, INC. 
