Japan Tobacco Inc. (JAPAF) Q4 2022 Earnings Call Transcript

Japan Tobacco Inc. (OTCPK:JAPAF) Q4 2022 Earnings Conference Call February 15, 2023 4:00 AM ET

Company Participants

Masamichi Terabatake – Chief Executive Officer

Eddy Pirard – Chief Executive Officer of JT International

Nobuya Kato – Chief Financial Officer

Vassilis Vovos – Chief Financial Officer of JT International

Conference Call Participants

Makoto Morita – Daiwa Securities

Nobuyoshi Miura – Citigroup

Hiroshi Saji – Mizuho Securities

Satoshi Fujiwara – Nomura Securities

Naomi Takagi – SMBC Nikko Securities

Haruka Miyake – Morgan Stanley MUFG Securities


Thank you for participating in the meeting for 2022 Full Year Results at Japan Tobacco Inc. today. It is time, so we would like to start.

In today’s meeting, first, Mr. Terabatake, Chief Executive Officer of the JT Group will introduce you Business Plan 2023. And Mr. Eddy Pirard, CEO of JT International, will follow, who explains Tobacco Business 2022 results and 2023 outlook. Lastly, Mr. Kato, Chief Financial Officer of the JT Group, will explain JT Group 2022 results and 2023 forecast. Then, we move on to Q&A session, and this meeting is scheduled to end at 8:00 p.m. JST.

Now, I’d like to introduce you the first presenter, Mr. Terabatake, please.

Masamichi Terabatake

I am Masamichi Terabatake, President and CEO of Japan Tobacco. Thank you for taking the time to attend today’s financial results briefing. I am grateful for your continuing support and encouragement.

First of all, I would like to extend my heartfelt sympathy to the victims of the recent earthquake in Turkey and their families. The JT Group has begun providing emergency relief services such as search and rescue. We sincerely pray for the safety of everyone and for the earliest possible recovery of the affected areas.

I would also like to take a moment to express my concerns about the situation between