Jul 31, 2020 / 08:00AM GMT
Naohiro Minami - Japan Tobacco Inc. - CFO, Executive VP of Communications & Representative Director
Good evening, and thank you for joining today's call. I'm Naohiro Minami, Chief Financial Officer of the JT Group. I will take you through the second quarter earnings results.
I will start with our consolidated financial results for the first half of 2020. Please look at Slide 4. Overall, the JT Group's business performance was resilient in the first half. Let me take you through the details, starting with revenue. Despite the strong performance in the international tobacco business, revenue decreased by 2.7% to JPY 1,030.2 billion due to the decline in the other businesses. The international tobacco business had a strong business momentum due to significant pricing gains, which was partially offset by currency headwinds. As mentioned on this slide, COVID-19 mainly affected the tobacco and processed food business by an estimated negative impact of approximately JPY 35 billion to date. Despite of this, adjusted operating profit at constant currency increased by 7.5% year-on-year as the pricing
Q2 2020 Japan Tobacco Inc Earnings Call Transcript
Feb 14, 2024
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