|Bid||2,227.50 x 0|
|Ask||2,228.00 x 0|
|Day's Range||2,213.00 - 2,232.50|
|52 Week Range||2,213.00 - 3,046.00|
|Beta (3Y Monthly)||0.29|
|PE Ratio (TTM)||10.05|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||154.00 (6.88%)|
|1y Target Est||3,616.40|
Philippine President Rodrigo Duterte has signed a law further raising taxes on tobacco products to fund the government's healthcare projects, a cabinet official said on Thursday. It was the second time Duterte's administration had raised levies imposed on cigarettes to discourage public consumption. Higher taxes on cigarettes will generate an estimated 129.9 billion pesos ($2.54 billion) over the next five years, Finance Assistant Secretary Antonio Lambino told Reuters.
Ethiopia's parliament will on Monday approve a law covering the liberalisation of the state-controlled telecoms sector, a parliament spokesman said. The move is the first concrete sign of progress on economic reforms pledged by Prime Minister Abiy Ahmed shortly after he took office in April 2018. "(On Monday) the Parliament will discuss comments made on the draft telecom law by standing committees of Human Resource and Technology, as well as Trade and Industry, after the that the MPs will approve the proclamation," parliament's communications director, Qusquam Mamo, told Reuters.
Spain’s anti-trust watchdog fined tobacco companies a combined total of almost 58 million euros (£50 million) for non-competitive practices, the regulator said on Friday. Distributor Compania de Distribucion Integral Logista provided sales information for rivals to tobacco companies Philip Morris Spain, Altadis and JT International Iberia, regulator CNMV said in a statement. "The effect of these practices has been to eliminate competition," the CNMV said.
Moody's Japan K.K. has placed under review for downgrade Japan Tobacco Inc.'s (JT) Aa3 issuer and senior secured ratings. Moody's has also placed under review for downgrade: 1) the aa3 Baseline Credit Assessment on JT, 2) the (P)Aa3 senior secured rating on JT's MTN program, as well as 3) the Aa3 backed senior unsecured ratings and the (P)Aa3 backed senior unsecured rating on JT International Financial Services B.V.'s MTN program.
MONTREAL/LONDON (Reuters) - The Court of Appeal of Quebec upheld on Friday the bulk of a 2015 decision that awarded around C$15 billion (£8.55 billion) to smokers in the Canadian province, dealing a blow to Big Tobacco. The judgement involves class action suits that were consolidated against the Canadian subsidiaries of British American Tobacco, Philip Morris International and Japan Tobacco International, known respectively as Imperial Tobacco Canada Ltd, Rothmans, Benson & Hedges Inc (RBH) and JTI-Macdonald Corp. The companies were appealing a 2015 Quebec Superior Court ruling to award damages to some 100,000 Quebec smokers and ex-smokers who alleged the companies knew since the 1950s that their product was causing cancer and other illnesses and failed to warn consumers adequately.
Japan Tobacco Inc on Thursday unveiled two "heat-not-burn" products, as it races against market leader Philip Morris International Inc for a larger share of the vaping space with conventional cigarettes steadily falling out of favour. Despite commanding 60 percent of the local cigarette market, Japan Tobacco has been caught on the wrong side of the rising popularity of heat-not-burn (HNB) alternatives and has lagged in the category in its own backyard versus the Marlboro maker.
The U.S. Food and Drug Administration on Thursday announced sweeping new restrictions on flavored tobacco products, including electronic cigarettes popular among teenagers in an effort to prevent a new generation of nicotine addicts. The much-anticipated announcement will mean that only tobacco, mint and menthol e-cigarette flavors can be sold at most traditional retail outlets such as convenience stores. The FDA also plans to seek a ban on menthol cigarettes, a longtime goal of public health advocates, as well as flavored cigars.
Juul Labs Inc, the U.S. market leader for electronic cigarettes, said on Tuesday it will pull popular flavors such as mango, cucumber and fruit from retail store shelves in an effort to reduce surging teenage use of its products. The move comes as Juul and other e-cigarette makers have faced heightened scrutiny from the U.S. Food and Drug Administration amid a sharp increase by high school students in use of the devices, which look like a USB flash drive and vaporize a flavored liquid containing nicotine. Juul said it will stop selling flavors except for tobacco, mint and menthol in all retail outlets, including convenience stores and vape shops, until retailers can install technology that scans buyers' IDs to independently verify they are aged 21 or older.
The move comes as Juul and other e-cigarette makers have faced heightened scrutiny from the U.S. Food and Drug Administration amid a sharp increase in high school use of the devices, which look like a USB flash drive and vaporize a flavoured liquid containing nicotine.
The U.S. Food and Drug Administration next week will issue a ban on the sale of fruit and candy flavored electronic cigarettes in convenience stores and gas stations, an agency official said, in a move to counter a surge in teenage use of e-cigarettes. The ban means only tobacco, mint and menthol flavors can be sold at these outlets, the agency official said, potentially dealing a major blow to Juul Labs Inc, the San Francisco-based market leader in vape devices. The FDA also will introduce stricter age-verification requirements for online sales of e-cigarettes.
Moody's Japan K.K. says that the cash levels of rated Japanese non-financial companies will remain high through at least fiscal 2018 -- ending 31 March 2019 for most companies -- but that the pace of growth will slow as spending increases. "One indication of this trend is the fact that cash as a percentage of assets, which peaked at more than 9% in fiscal 2015, has since declined and will continue to do so through fiscal 2018," says Mihoko Manabe, a Moody's Associate Managing Director. "Looking ahead, we also expect that the rated companies' cash holdings, which totaled JPY33.7 trillion (USD306 billion) at the end of fiscal 2017, will rise 2% in fiscal 2018 and hold steady in fiscal 2019, a slowdown from growth of 5% in fiscal 2017," says Manabe.
The U.S. Food and Drug Administration said on Tuesday it seized more than a thousand pages of documents from Juul Labs related to the company's sales and marketing practices after a surprise inspection, the latest clampdown on e-cigarette companies. The FDA said last month it was considering a ban on flavored e-cigarettes from Juul and others as the agency grapples with an "epidemic" of youth e-cigarette use that threatens to create a new generation of nicotine addicts. Retail sales of Juul grew more than seven-fold from 2016 to 2017, according to a study by the U.S. Centers for Disease Control and Prevention (CDC).
Health and Human Services Secretary Alex Azar said the agency supports the Food and Drug Administration's proposed e-cigarette crackdown. The FDA earlier this week threatened to pull e-cigarettes from shelves if manufacturers do not control teen use. The FDA is specifically ordering five brands — Juul, British American Tobacco's Vuse, Altria's MarkTen, Imperial Brands' Blu E-cigs and Japan Tobacco's Logic — to submit plans within 60 days detailing how they will prevent teens from using their products.
For the first half of 2018, the Matthews Japan Fund (Trades, Portfolio) returned 0.08% (Investor Class), while its benchmark, the MSCI Japan Index, returned -1.85%. For the quarter ending June 30, the Fund returned -4.89% (Investor Class), underperforming its benchmark, which returned -2.80%. Warning! GuruFocus has detected 2 Warning Sign with INTC.