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

EU-US trade deal to boost economic growth

In their recent trade deal talks, the US and the EU recently agreed on a free-trade agreement that is expected

Analysts on the effects of sanctions imposed against Iran

According to a western diplomat in Iran, western experts have estimated that Iranian state would run out of foreign currency

US consumer confidence at its highest in 5 years

The latest improvement in the US job market has resulted in a jump in the US consumer confidence, rising to

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Your e-mail address will not be published.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.