Japan Tobacco Forecast Record Net as Sales Rise; Shares Jump
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Japan Tobacco Inc., the world’s best-performing cigarette maker this year, raised its projected annual dividend by 35 percent after forecasting record profit on increasing overseas sales and a weaker yen. The shares climbed to a record.
Net income will probably be 415 billion yen ($4.2 billion) for the year ending March 2014, company said in a statement yesterday. The company jumped 2.7 percent to 3,595 yen, headed for a record close, as of 1:14 p.m. in Tokyo trading.