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Bloomberg warned that placing Japan Tobacco’s assets in Russia under temporary administration could reduce the dividends the Japanese government relies on. The Ministry of Finance owns about 37.55% of the company, and its dividends account for 44% of the projected revenue of a fund that finances industrial and innovation projects. The company said its seven Russian subsidiaries had been placed under temporary administration. Russia accounts for about 10% of its revenue and 25% of its projected adjusted operating profit for 2026, while the book value of assets tied to its operations there is about 1.5 trillion yen. Shares plunged more than 30% over Friday and Monday’s trading sessions, falling from 7,769 to 5,269 yen. Tokyo protested the decision and called on Moscow to reverse it.
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