Japan Tobacco Inc., the world's third-largest cigarette maker, will seek more takeovers from 2009 to build on the 7.5 billion pound ($15 billion) purchase of Gallaher Group Plc, President Hiroshi Kimura said.
Further acquisitions ``would be realistic from 2009,'' Kimura said in an Aug. 29 interview. The integration of the British maker of Benson & Hedges cigarettes, purchased in April, will be completed in two years, he said.
Kimura, 54, is seeking to expand overseas as cigarette consumption falls in the Tokyo-based company's home market, which accounts for 76 percent of sales. Japanese tobacco revenue slumped 13 percent in the first quarter as the nation's population declined and anti-smoking campaigns increased. Full Story - Discount Magazine Subscriptions
Further acquisitions ``would be realistic from 2009,'' Kimura said in an Aug. 29 interview. The integration of the British maker of Benson & Hedges cigarettes, purchased in April, will be completed in two years, he said.
Kimura, 54, is seeking to expand overseas as cigarette consumption falls in the Tokyo-based company's home market, which accounts for 76 percent of sales. Japanese tobacco revenue slumped 13 percent in the first quarter as the nation's population declined and anti-smoking campaigns increased. Full Story - Discount Magazine Subscriptions
Posts
