Japan Tobacco Hits Limit Down Again as Russia Seizes Units

Shares of Japan Tobacco (JT) closed limit down for a second straight session on Monday, falling ¥1,000, or 15.95%, to ¥5,269 after Russia widened its takeover of the company’s local businesses, EconoTimes reported, citing Reuters.

Heavy sell orders left the stock untraded earlier in Monday’s session, according to the report. The ¥5,269 close compares with ¥6,269 at the end of trading on Friday, November 6.

The slide came even as the wider Tokyo market rebounded. The Nikkei 225 rose 2.33% to 58,775.50, its first gain in six sessions, BigGo Finance and AD HOC NEWS reported, while Investing.com listed JT among the day’s worst performers, at a 52-week low.

Seven units under temporary management

Russian President Vladimir Putin signed a decree on November 5 placing four JT businesses in Russia under the temporary management of a Russian company called Industrial Assets, Investing.com reported. The units named were manufacturing operations JTI Donskoy Tabak, JTI Yelets, Kres Neva and Petro.

The decree gave no reason for the move and, according to Investing.com, it “does not automatically transfer legal ownership” of the businesses.

A further order on November 6 added JTI Russia LLC, JTI Innovative Products LLC and a dormant company, bringing all seven of JT’s local entities under temporary administration, EconoTimes said.

On Friday, JT shares were quoted at ¥6,269 at 11:30 a.m. in Tokyo, 19.3% below Thursday’s record closing high of ¥7,769, Investing.com reported.

Russia’s weight in JT’s earnings

Russia accounts for about 10% of JT’s group revenue and about 25% of adjusted operating profit under the company’s revised 2026 forecast, according to EconoTimes.

As of September 30, JT held about ¥1.5 trillion in Russia-related assets including goodwill, along with cash and deposits of about ¥360 billion, against related liabilities of about ¥200 billion, the report said.

JT said its Russian business remained in operation and that it was assessing the effect of the orders on group results. Its disclosure did not put a figure on any loss.

Finance Minister Satsuki Katayama said on November 6 that Japan had protested to Russia and sought a withdrawal of the measure, EconoTimes reported. The Minister of Finance held 37.55% of JT as of September 30.

What’s next

The Tokyo Stock Exchange set a lower price limit of ¥1,269 for JT shares in Tuesday’s session, EconoTimes said. JT has said it will disclose material developments as they arise, and its full-year 2026 results are scheduled for February 10, 2027.

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