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

More Reforms Needed for Spain- Spanish Prime Minister Mariano Rajoy

Spanish Prime Minister Mariano Rajoy said that Spain’s economy needs to undertake further reforms that would help it become more

Apple changes its payment policy after Taylor Swift speaks out

Apple Music has changed its payment policy, a day after Taylor Swift withheld her album 1989 from streaming for a

Japan, China and S Korea edge towards free-trade deal

Japan, China and South Korea have moved closer to signing a trilateral investment agreement that could pave the way for

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Your e-mail address will not be published.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.