Japan Tobacco Inc Sees Profit Slip reports Direct Net Partners

Outlook may be more positive than once thought

Sanfrancisco, CA (prHWY.com) November 28, 2012 - San Francisco, CA- The fiscal second-quarter profits for Japan Tobacco Inc.'s fell a full 14% from its 2011 numbers due to losses felt through the foreign exchange fall out that affected the overseas tobacco unit. The companies are now hoping that the operating-profit outlook for the 2013 fiscal year will be as strong as some are expecting. If so, the negative effect of the currency conversion could be dampened.

Japan Tobacco Inc. is the third-largest tobacco company in the world (in sales volume). They train Philip Morris International and British American Tobacco.

Despite a gloomy outlook in European sales amid the debt crisis, Chief Financial Officer Hideki Miyazaki stated at a news conference the Japanese Tobacco Inc. "will proceed with its growth trend" by making up for weakness in Europe with a stronger performance in various sections of the world.

JT's efforts to grow overseas have been met with the difficulty; however, with demand dwindling at home, the approach is necessary. JT now operates in 120 countries, and more than one-half of its company-wide sales are now found outside of its home borders.

JT generated $13.49 billion over the year, down nearly $14 billion from a year ago. The blame fell to the decline of a Swiss-franc-denominated asset from an overseas unit of JT International. That loss caused by the dollar's strength to push against the local currency.

Revenue from JT dropped 2.8% for the quarter, in part due to domestic sales. Domestic sales fell for a variety of reasons. The company may still be feeling the general effects of the Tsunami that hit in 2011.

2013 revenue forecast has been dropped to $25 billion from nearly $32 billion. However, the company line was strong enough to gain positive revisions to the profit outlook for the first quarter of 2013.

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