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Japan Tobacco revises FY'19 EPS forecast

Japan Tobacco Inc. on Aug. 23 said it now expects its EPS to come in at ¥136.77, compared to its previous outlook of ¥202.62, for the fiscal year 2019.

The owner of the Winston and Camel cigarette brands anticipates its net sales to be ¥672 billion in 2019 versus ¥696.25 billion in the year prior.

Net income for full year 2019 is expected to increase 47.6% year over year to ¥243 billion from ¥164.60 billion in 2018.

The cigarette-maker also announced that its unit JT International Group Holding BV will distribute dividends of $800 million to Japan Tobacco. The dividend amount will be recognized as part of 2019 nonconsolidated earnings, resulting in a significant increase in the company's ordinary and net income.