English | دری

Japan to sell shares to Japan Tobacco Company

in International Business

Japan to sell shares to Japan Tobacco Company

tsunamiIn a bid to raise funds for the reconstruction of the devastated areas of Japan post the 2011 earthquake and tsunami, Japanese government has decided to sell a third of its stake in Japan Tobacco.

Japan Tobacco is the third largest tobacco company in the world.

Japan’s parliament passed a set of bills in 2011, which allowed it to implement tax rises and sell shares in state-owned companies to help fund the expected $270bn cost of rebuilding the north-east coast following the earthquake.

Shares in Japan Tobacco closed on Monday at 2,901 yen. Based on that price, the stake being sold is worth about 967bn yen ($10.3bn).

Related Articles

Libor System to be overhauled

A review, headed by the managing director of the Financial Services Authority (FSA) Martin Wheatley, said that the Libor rate-setting

Samsung loses Japan iPhone battle but gains help of ex-judge

BBC News-Samsung has failed to secure a iPhone ban in Japan in its latest patent fight with Apple. The Galaxy

Japan is technically facing a recession

According to latest figures, Japan is technically in recession, having contract for two quarters in a row. The economy shrank

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.