アニュアルレポート2013
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- ゆうりゅう ごみぶち
- 7 years ago
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2 Management At a Glance CEO Operation & Analysis CSR 058 Financial Information Fact Sheets 142 Fact Sheets Shareholder Information 170 Other Information 174 JT For more information, please visit
3 Financial Highlights EBITDA 6, % % ppt EPS % MANAGEMENT OPERATION & Analysis FINANCIAL INFORMATION FACT SHEETS SHAREHOLDER INFORMATION OTHER INFORMATION Japan Tobacco Inc. Annual Report
4 JT
5 004 At a Glance CEO MANAGEMENT Our 4S model continues to deliver strong business results and shareholder return improvements Our unique 4S model, resource allocation policy and strategic framework continue to deliver strong business results and shareholder return improvements.
6 At a Glance Winston camel Mild Seven MEVIUS 2 5 : GFB : 4, % GFB 2, % US$ 11, % EBITDA US$ 4, % JT 60% 2 45% : 1, % 6, % EBITDA 2, % 004 Japan Tobacco Inc. Annual Report 2013
7 事業別の売上収益構成比率 飲料 8.7% 医薬 2.5% 国内たばこ 32.4% その他 0.7% 加工食品 8.0% 海外たばこ 47.7% MANAGEMENT R&D 事 業 売上収益 EBITDA 事 業 売上収益 1, EBITDA 事 業 売上収益 1, EBITDA EBITDA Japan Tobacco Inc. Annual Report
8 Consolidated Five-year Financial Summary IFRS 2012 IFRS 2013 IFRS 1 68,323 61,347 20,594 20,338 21,202 31,183 26,336 9,635 9,663 10,107 32,005 30,428 6,658 6,462 6, ,360 3,947 3,675 3,594 1,888 1,855 1,707 1, ,808 9,068 8,878 8,946 9,431 6,488 6,160 6,322 6,119 6, ,638 2,965 4,013 4,592 5,324 1,748 1,369 2,259 2,524 2,895 1,883 1,987 2,023 2,093 2, EBITDA EBITDA3 4 6,462 5,267 5,220 5,771 6,221 3,380 2,777 2,779 3,148 3,433 2,723 2,513 2,472 2,623 2, ,824 2,302 1,180 1,188 1, ,234 1,384 2,433 3,209 3,436 FCF6 2,402 2,507 3,004 4,513 3, Japan Tobacco Inc. Annual Report 2013
9 MANAGEMENT IFRS 2012 IFRS 2013 IFRS 38,798 38,726 36,552 36,670 38, ,961 8,743 7,091 5,024 3,272 22,555 21,493 20,539 19,524 19,606 16,243 17,233 16,013 17,146 18,920 ROE8 6.8% 8.6% 15.3% 20.3% 20.0% ROA9 8.4% 7.8% 10.9% 12.7% 14.3% % 42.6% 41.7% 44.6% 46.9% ,880 14,449 25, , , , ,400 5,800 6, % 23.6% 26.8% 29.7% 37.6% IFRS 2 IFRS EBITDA IFRSEBITDA * * 5 IFRS IFRS 6 FCF 7 8 IFRS 9 ROA 10 IFRS 11 IFRS IFRS 14 Japan Tobacco Inc. Annual Report
10 Hiroshi Kimura Chairman of the Board Mitsuomi Koizumi President and CEO and Representative Director
11 Message from the Chairman and CEO MANAGEMENT JT 1 17% ,500 7, JT EBITDA 15.1% 7.8% % 18 36%EPS 27.3% 13.8% JT JT2012 JT 50% Japan Tobacco Inc. Annual Report
12 CEO Business Review ceo 4S 4S 2012 Gryson Nakhla Japan Tobacco Inc. Annual Report 2013
13 MANAGEMENT % % 4S JT JT 4S Mild Seven MEVIUS MEVIUSNo.1 3Mild Seven 2MEVIUS MEVIUS MEVIUS No.1 JT JTK-303 HIV MEK trametinib MEK trametinib 12.4% Japan Tobacco Inc. Annual Report
14 Management Principle, Resource Allocation Policy and Strategic Framework 4S 4S 4S 4S4S JT 4S 44 4S 業 株主 EPS 2 FMCG EPS JT3 4 4 従業員 株主 お客様 社会 質の高いトップライン成長 コスト競争力強化 基盤強化 012 Japan Tobacco Inc. Annual Report 2013
15 Business Plan MANAGEMENT JT 3 1 4S S 1 4S CSR EBITDA mid to high single-digit % EPS high single-digit EBITDA 6.1 EBITDA EBITDA 6,221 7, % 6.1% % 40.3% 2.7ppt % 40.3% Japan Tobacco Inc. Annual Report
16 Performance Measures 2013EbITDa EpS 2013 EBITDAJT 3 海外たばこ事業 ( 億本 ) Calendar year basis +2.5% 4,365 億本 4,284 4,257 4,365 fine cut cigar pipe snus 国内たばこ事業 ( 億本 ) +7.2% 1,162 億本 1,346 1,084 1,162 FY3/2011 FY3/2012 FY3/2013 GFb GFB 販売数量 ( 億本 ) Calendar year basis +4.8% 2,688 億本 2,498 2,565 2,688 Winston Camel Mevius-Mild Seven B&H Silk Cut LD Glamour Sobranie Japan Tobacco Inc. Annual Report 2013
17 MANAGEMENT IFRS 海外たばこ事業 ( 百万 US ドル ) Calendar year basis 10,113 11,211 1,412 12, Business 2012 at constant currency ,817 FX % 12,623US ( ) +5.4% 11,817US () 国内たばこ事業 ( 億円 ) +6.9% 6,540 億円 6,322 6,540 FY3/2011 6,119 FY3/2012 FY3/2013 売上収益 ( 億円 ) +4.2% 21,202 億円 20,594 20,338 21,202 FY3/2011 FY3/2012 FY3/2013 Japan Tobacco Inc. Annual Report
18 Performance Measures continued IFRS EbITDa 調整後 EBITDA ( 億円 ) % 6,642( ) +7.8% 6,221() 6,642 5,220 5,771 6,221 ()* FY3/2011 FY3/2012 Business FY3/2013 at constant currency FX FY3/2013 () * IFRS 連結配当性向 (%) 7.9ppt37.6% FY3/2011 FY3/2012 FY3/2013 2, Japan Tobacco Inc. Annual Report 2013
19 MANAGEMENT CAGR26% 5 IFRS 一株当たり配当金 (%) +36% 68 円 FY3/2011 FY3/2012 FY3/2013 EpS 調整後 EPS( 希薄化後 ) ( 円 ) % 円 ( ) +13.8% 円 () EPS FY3/2011 FY3/2012 Business FY3/2013 at constant currency FX FY3/2013 EPS ( ()( )) ( ) () Japan Tobacco Inc. Annual Report
20
21 CSR 058 OPERATION & Analysis Continuous investment in our brands for quality top-line growth delivered strong results Our strategic emphasis on top-line growth resulted in another strong business performance. We stayed true to our midto long-term perspective and did not compromise on investments in our business and in our people. The end result was a strong achievement, exceeding our initial forecast while reinforcing future growth potential.
22 Industry Overview * * Source: Euromonitor. JT JT4 2 3 M&A 020 Japan Tobacco Inc. Annual Report 2013
23 ,431 22,292 23,167 24,062 24,779 3,935 3,900 3,831 3,751 3,741 3,530 3,207 3,091 2,991 2,871 1,677 1,738 1,816 1,918 2,031 2,488 2,351 2,179 1,959 1, ,028 1,021 OPERATION & Analysis , , ,079 1, Source: Euromonitor. 4 % JT Source: Euromonitor and JT estimate Excluding China National Tobacco Corp CNTC Marlboro Philip Morris International Inc Altria Group Inc 4,288 4,145 4,128 4,066 4,009 Winston Japan Tobacco Inc Reynolds American Inc 1,224 1,221 1,224 1,224 1,297 Pall Mall British American Tobacco Plc Reynolds American Inc Mild Seven/ Mevius Japan Tobacco Inc 1,074 1, L&M Philip Morris International Inc Kent British American Tobacco Plc Camel Japan Tobacco Inc Reynolds American Inc Gudang Garam Gudang Garam Tbk PT Fortune International Philip Morris International Inc Fortune Tobacco Corp Gold Flake ITC Ltd British American Tobacco Plc Source: Euromonitor. Excluding China National Tobacco Corp CNTC Japan Tobacco Inc. Annual Report
24 Industry Overview continued 20119, IMS Health 36% 28% 12%2013 IMS Health %4% 2013 IMS Health , Japan Tobacco Inc. Annual Report 2013
25 3 OPERATION & Analysis %8,951 85% %3% 2012 Japan Tobacco Inc. Annual Report
26 Review of Operations JTmid to high single digit EBITDA 1 MEVIUS: Mild SevenMEVIUS No.1 GFB 20 Mild Seven Mild Seven Mild SevenMEVIUS EU 2013MEVIUS MEVIUS MEVIUS Mild SevenMEVIUS No.1 1 MEVIUS MEVIUS JT 024 Japan Tobacco Inc. Annual Report 2013
27 OPERATION & Analysis R&D GFB GFB GFB Japan Tobacco Inc. Annual Report
28 Review of operations continued 販売数量 () 4, % GFB 販売数量 () 2, % Pierre de Labouchere 2 自社たばこ製品売上収益 ( 百万 US$) 11, % EBITDA 3 1Fine Cut Cigar Pipe Snus2 3 EBITDA()* * () ( 百万 US$) 4, % JTI 2012 EBITDA 2 ( GFB) 単価効果 販売数量成長と商品ミックス改善が自社たばこ製品売上収益成長を牽引 ( 百万 US$) +12.6%* +5.4% , ,623 11,817 11,211 JTIGrysonFine cut Nakhla Pierre de Labouchere JT International President & CEO 2011 年 数量差 単価 / 商品構成 2012 年為替一定ベース 為替一定ベースの調整後 EBITDA は 22.5% 成長 為替影響 2012 年 * (2 ) M&A 2.5% GFB4.8% 12.6% 5.4% ( 百万 US$) JTJT International JTI JTI JT 3, %* +9.1% , ,830 4, 年 数量差 単価 / 商品構成 その他 2012 年 為替影響 2012 年 為替一定 ベース * (6 ) 22.5% LIP ( 1.5%) 026 Japan Tobacco Inc. Annual Report 2013
29 JT Global Flagship brands (GFb) portfolio GFbJTIWinston camel Engine Winston 1954Winston JTI %1, Winston OPERATION & Analysis Winston 数量成長 ( 億本 ) Winston クラスター別数量成長 (2011 年 vs 年比較 ) 1,212 1,250 1,307 1, % +3.1% +4.5% +6.7% South & West Europe North & Central Europe +3.1% +7.8% CIS % 2009 年 2010 年 2011 年 2012 年 Rest of the World -2.3% WinstonWinston, XS Winston Winston, WinstonWinston Fine cut XS 2012Winston65% 1 2 XS XS Fine cut Camel Camel100 Camel Camel & (34 ) Fine cut 2 億本 Camel 10 Camel 本 Camel100Camel Japan Tobacco Inc. Annual Report
30 Review of operations continued JTI JTI 61.6% Winston Camel Engine 1.1 StrongholdLD LD Club Lounge クラスター別実績 2.5% 29% 31% 23% Rest-of-the-World CIS+ North & Central Europe South & West Europe 4,365 45% 34% 38% 12 ppt Gryson 17% 11% 14% 18% 総販売数量自社たばこ製品売上収益 21% 18% 調整後 EBITA 17.4% % South & West Europe 36.5% % % % GFB % 26.3% % Fine Cut AC Nielsen Logista Altadis GFB 年 GFB 販売数量対前年増減 ( 億本 ) 総販売数量に占める構成比率 対前年増減率 GFB Gryson 2011 年 2, % +2.6% Engine (Winston/Camel) Stronghold (LD/Mild Seven/ Benson & Hedges/Silk Cut) Future Potential (Glamour/Sobranie) 2012 年 , % 17.8% 2.5% 61.6% +5.2% +5.1% -3.2% +4.8% 2JTI Fine Cut 2012GFB4.8%2, % GFB 1.4 EBITA 4.4% 2.8% 028 Japan Tobacco Inc. Annual Report 2013
31 Global Flagship brands portfolio continued GFbJTI Stronghold Mild Seven/MEVIUS Silk cut benson & Hedges LD Future potential Sobranie Glamour Stronghold OPERATION & Analysis Mild Seven Mild SevenMEVIUS JTI EU B&H B&H UK JTI EU17 16 Fine cut 2012 LD Club LoungeLD Club 105% Future Potential JTI 2005 CIS Japan Tobacco Inc. Annual Report
32 Review of operations continued North & Central Europe Rest-of-the-World % GFB % GFBLD B&H Camel 9 EBITA 5.6% 16.3% EBITA % CIS 1, % GFB % 2 2 EBITA 13.0%* 17.3%* EBITA0.9* JTI , % GFB 1, % GFBWinston LD GFB 2013 EBITDA 2 * EBITA 14.2% 32.2% EBITA37.8% 030 Japan Tobacco Inc. Annual Report 2013
33 JT new opportunities JTIM&a Sudan % Haggar Cigarette & Tobacco Factory Ploom Ploom GFB OPERATION & Analysis Bringi Ploom Ploom Ploom 2013 Gryson Fine cut GFBAmber Leaf Fine Cut Amber Leaf Fine cut Gryson2Fine cut Fine cut1 3 2 JTIGryson Fine cut 30%50 38% Gryson Nakhla Nakhla 10 : JTI JTI 640 Nakhla2012 5,200 18, Japan Tobacco Inc. Annual Report
34 Review of Operations continued , % EBITDA EBITDA * * 2, % 2012 EBITDA Mild SevenMEVIUS No ,162 販売数量 ( 億本 ) 1, 年 3 月期 +7.2% 1, 年 3 月期 6.9% 6,540 EBITDA 7.3% 2,813 JT ,951 JT 自社たばこ売上収益 1 と調整後 EBITDA 2 ( 億円 ) 6, % 6, % 2,623 2, 年 3 月期 2013 年 3 月期 2012 年 3 月期 2013 年 3 月期 032 Japan Tobacco Inc. Annual Report 2013
35 JT 1978 No.1* ' ' OPERATION & Analysis No.1* ** 1mg mg No.1* * ** Japan Tobacco Inc. Annual Report
36 Review of Operations continued 4.7 MEVIUS 年次シェア推移 : 54.9% 59.6% 2012 年 3 月期 2013 年 3 月期 月次シェア推移 59.1% 60.0% 2012 年 4 月 5 月 6 月 7 月 8 月 9 月 10 月 11 月 2013 年 12 月 1 月 2 月 3 月 MEVIUS シェア推移 31.9% 32.2% 30.2% 2013 年 1 月 2013 年 2 月 2013 年 3 月 * Mild Seven 034 Japan Tobacco Inc. Annual Report 2013
37 JT OPERATION & Analysis Japan Tobacco Inc. Annual Report
38 Review of Operations continued 036 Japan Tobacco Inc. Annual Report 2013
39 OPERATION & Analysis JT100% 1998 M&A Japan Tobacco Inc. Annual Report
40 Review of Operations continued ( 億円 ) ( 億円 ) 調整後 EBITDA 1 ( 億円 ) ( 億円 ) EBITDA()* * () 売上収益 ( 億円 ) JT ( JTK-303) (HIV) () ( ) ( ) MEK() ( ) ( ) 2 JTT-751() TO-194SL() 円 年 3 月期 調整後 EBITDA 1 ( 億円 ) 年 3 月期 年 3 月期 年 3 月期 JT EBITDAJT 038 Japan Tobacco Inc. Annual Report 2013
41 MR OPERATION & Analysis MR MR MR 460MR MR ISO14001 Japan Tobacco Inc. Annual Report
42 Review of Operations continued JTK-303 elvitegravir HIV JTT-705 dalcetrapib CETP JTT-302 CETP HIV HDL LDL CETP HDL HDL LDL CETP HDL JTT-751 JTT GPR40 JTZ-951 HIF-PHD HIF-PHD JTE-051 ITK T JTE-052 JAK JAK * elvitegravir JTK-303 Gilead Sciences HIV HIV : : : Phase3 trametinib GlaxoSmithKline MEK MEK dabrafenib dalcetrapib JTT-705 Roche CETP HDL LDL CETP HDL ICOS MedImmune ICOS T ICOS 040 Japan Tobacco Inc. Annual Report 2013
43 Phase 1 Phase 2 Phase 3 OPERATION & Analysis Keryx Biopharmaceuticals Japan Tobacco Inc. Annual Report
44 Review of operations continued 売上収益 ( 億円 ) ( 億円 ) 1, EBITDA 1 1 EBITDA()* * () ( 億円 ) ( 億円 ) Roots 売上収益 ( 億円 ) 1, 年 3 月期 -33 1, 年 3 月期 : 調整後 EBITDA 1 ( 億円 ) -22 : 年 3 月期 年 3 月期 売 : ,225 : EBITDA 042 Japan Tobacco Inc. Annual Report 2013
45 JT JT JT OPERATION & Analysis g 2009 REVOLUTIONAROMA REVOLUT SPARKLING SPARKLING Japan Tobacco Inc. Annual Report
46 Review of operations continued Food Safety Control * * JTISO 9001, HACCP system FSSC22000 Food Safety Control * HTST :HTST 044 Japan Tobacco Inc. Annual Report 2013
47 Japan Tobacco Inc. Annual Report OPERATION & Analysis
48 Review of operations continued 売上収益 ( 億円 ) ( 億円 ) 1, EBITDA 1 1 EBITDA()* * () ( 億円 ) ( 億円 ) 売上収益 ( 億円 ) 1,707 1, ,687 1,526 * 2012 年 3 月期 2012 年 3 月期水産除きベース 2013 年 3 月期 2013 年 3 月期水産除きベース 調整後 EBITDA 1 ( 億円 ) +19 1,687 億円 49 億 円 1,526 億円 EBITDA 19 億円 74 億円 2012 年 3 月期 2013 年 3 月期 * 046 Japan Tobacco Inc. Annual Report 2013
49 No1 OPERATION & Analysis * * Japan Tobacco Inc. Annual Report
50 Review of operations continued ISO9001 HACCPISO22000 ISO22000HACCP 27 ISO Japan Tobacco Inc. Annual Report 2013
51 OPERATION & Analysis Japan Tobacco Inc. Annual Report
52 Risk Factors JT cis 1. JT 050 Japan Tobacco Inc. Annual Report 2013
53 2. JT Contraband Counterfeit Illicit whites 2007JT JT International Holding B.V. JT International S.A.EU26 EU 2009 EU JT JTI Macdonald Corp. OPERATION & Analysis Japan Tobacco Inc. Annual Report
54 Risk Factors continued 3. JT JT 052 Japan Tobacco Inc. Annual Report 2013
55 6. RJR JT JT 8. JT JT JT International Holding B.V. JT OPERATION & Analysis Japan Tobacco Inc. Annual Report
56 Corporate Social Responsibility JT CSR 2013 JTCSRhttp:// JT JT JT ISO ISO ARISE JT JTI ARISE Achieving Reduction of Child Labor in Support of Education JTI ARISE 054 Japan Tobacco Inc. Annual Report 2013
57 JT JT EES JT CIS , JT JT JT JT JT 2012 JT OPERATION & Analysis 72 93% 38 Japan Tobacco Inc. Annual Report
58 Corporate Social Responsibility continued JT JT JT JT JT JT JT JT MR( ) JT 056 Japan Tobacco Inc. Annual Report 2013
59 JT JT NGO NPO JT 2005 JT 9 JT 58P OPERATION & Analysis 400 NGO 2012JTI JT Japan Tobacco Inc. Annual Report
60 Corporate Governance 社 のに対 し に るをするに コー ー ンスの 上の の る す 社 か 業務執行 監 助言 のを しに取 し 社 社 等の 事項の 業務執行の監 に 任を 取締役会 業務執行を する執行役員制度 会計監査 内部監査部 し 業務監査 会計監査を行 監査役会 取締役会 代表取締役に対する助言 を有する報酬 委員会 コンプライアンス委員会 ア イ ー コ かる のンス 制 有 に し 業 上にし る す の をにし コー ー ンスの にに取 す コーポレート ガバナンス 取 助言 の 制の 監 の 業務執行の コンプライアンス委員会の (2000 ) 取締役会 の (2000 ) 執行役員制度の導 (2001 ) ア イ ー コ の (2001 ) 報酬 委員会の (2006 ) 執行 の 委 ( ) 社外取締役制度の導 (2012 ) コーポレート ガバナンス体制 株主総会 選任 解任 選任 解任 選任 解任 監査報告 会計監査 業務監査 報告 取締役会 コンプライアンス事項の上程 監査役会 会計監査人 弁護士 会計監査 助言 誘導 アドバイザリー コミッティ 6 名 ( 外部有識者 4 名 社外取締役 2 名を含む ) 監査部 報告 提言 9 名 ( 社外取締役 2 名を含む ) 社長 経営会議 務執( 代表取締役に対し ) 行監督助言 報酬諮問委員会 5 名 ( 社外取締役 2 名 社外監査役 2 名を含む ) コンプライアンス委員会 5 名取締役 執行役員 ( 外部委員 3 名を含む ) の報酬に関する方針 制度等の審議にかかる答申業コンプライアンス統括室 4 名 ( 社外監査役 2 名を含む ) 監査役室 内部監査 執行役員 会計監査 業務監査 各部門 グループ監査 グループ会社 058 Japan Tobacco Inc. Annual Report 2013
61 OPERATION & Analysis * Japan Tobacco Inc. Annual Report
62 Corporate Governance continued , JT International S.A. Executive Vice President Japan Tobacco Inc. Annual Report 2013
63 OPERATION & Analysis ,000 20,300 9, JT International S.A. Executive Vice President Japan Tobacco Inc. Annual Report
64 Corporate Governance continued , , , JT International S.A. Executive Vice President 062 Japan Tobacco Inc. Annual Report 2013
65 OPERATION & Analysis LIXIL Japan Tobacco Inc. Annual Report
66 Corporate Governance continued , JT International Holding B.V. Vice President Japan Tobacco Inc. Annual Report 2013
67 , OPERATION & Analysis Japan Tobacco Inc. Annual Report
68 Corporate Governance continued P 066 Japan Tobacco Inc. Annual Report 2013
69 OPERATION & Analysis Japan Tobacco Inc. Annual Report
70 Corporate Governance continued ン ン リ ン 報 報告 報告 ン ン 報 報告 リ グ 内部統制体制 取締役会 会計監査人 報告 モニタリング 危機管理 災害対策 資金調達状況与信管理状況 コンプライアンス取組方針 実践計画 内部監査計画 結果 内部統制報告書 内部統制監査 コンプライアンス体制 ン ン ン ン ン ン ン ン ン ン ン ン ン ン 報告 報 報 報 ン ン ン ン 報告 ン ン ン ン コンプライアンス 会 部 ン ン ン ン ン ン 068 Japan Tobacco Inc. Annual Report 2013
71 OPERATION & Analysis JT 50P Japan Tobacco Inc. Annual Report
72 Corporate Governance continued Japan Tobacco Inc. Annual Report 2013
73 OPERATION & Analysis JT ,60080, , Japan Tobacco Inc. Annual Report
74 Corporate Governance continued Japan Tobacco Inc. Annual Report 2013
75 Deloitte Touche Tohmatsu JTIH Deloitte Touche Tohmatsu JTIH OPERATION & Analysis Japan Tobacco Inc. Annual Report
76
77 FINANCIAL INFORMATION Our quest for better communication with the financial community In the year ended March 31, 2012, we adopted IFRS with the aim of improving international comparability of financial information in the capital markets. In the following year, we split the former food business into two segments, the beverage business and processed food business, to improve transparency of our business. We will continue with our efforts to improve our disclosure and communication with the financial community.
78 Financial Review 売上収益 ( 億円 ) () * 円 2012 年 3 月期 20,338 海外たばこ事業事業モメンタム * 海外たばこ事業円安影響 国内たばこ事業医薬事業飲料事業加工食品事業その他 2013 年 3 月期 , 億円 ( 4.2% ) 21,202 億円 2 調整後 EBITDA 3 ( 億円 ) 2012 年 3 月期 5,771 海外たばこ事業事業モメンタム ( 為替一定 ) 海外たばこ事業現地通貨対ドルマイナス影響 海外たばこ事業円安影響 +0 国内たばこ事業医薬事業飲料事業加工食品事業その他 2013 年 3 月期 ,221 EBITDA450 億円 (7.8%) 6,221 億円 EBITDA15.1% 3 EBITDA()* * () 営業利益 ( 億円 ) 2012 年 3 月期調整後 EBITDA 4, 調整合計 2013 年 3 月期 , 億円 (15.9% ) 5,324 億円 076 Japan Tobacco Inc. Annual Report 2013
79 4 当期利益 ( 億円 ) 2012 年 3 月期 3,209 営業利益金融損益 法人税等 非支配持分帰属損益 年 3 月期 3, 億円 (7.1% ) 3,436 億円 () 4 益 ( 億円 ) ,338 21, ,663 10, ,946 9,431 6,462 6, ,119 6, ,888 1,855 1,707 1, 円 RUB GBP EUR EbITDa 利益 ( 億円 ) ,592 5, , EBITDA 5,771 6, ,524 2, EBITDA 3,148 3,433 2,093 2, EBITDA 2,623 2,813 ( EBITDA ( EBITDA ( EBITDA ( EBITDA (98 96 EBITDA FINANCIAL INFORMATION 8 ()** ** () Japan Tobacco Inc. Annual Report
80 Financial Review continued ( 財 ) の 1 連結財政状態計算書 ( 資産の部 ) ( 億円 ) 2012 年 3 月末現金及び現金同等物 36,670-2,620 営業債券等棚卸資産 のれん商標権有形固定資産その他資産 2013 年 3 月末 +2, ,526 1,856 億円 38,526 億円 連結財政状態計算書 ( 負債 資本の部 ) ( 億円 2012 年 3 月末借入金 36, 社債 -833 営業債務等未払たばこ税等 その他負債等 +1,353 利益剰余金 +2,012 在外営業活動体の換算差額その他の資本計 +2,158-2, 年 3 月末 38, 億円 19,606 億円 1,774 億円 18,920 億円 078 Japan Tobacco Inc. Annual Report 2013
81 RJR IFRS EBITDA EBITDA EBITDA EBITDA GAAP IFRS GAAP EBITDA GAAPIFRS 1 EPS EBITDA EPS ,297EPS % FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
82 Financial Review continued EPS ,209 3, ,908 3,297 1,905,040 1,898, % ,190 1, % % % % % % % , , Japan Tobacco Inc. Annual Report 2013
83 % S 4 FINANCIAL INFORMATION ,024 3,272 4,047 1, ,845 16,341 18, ,510, % JT JT Japan Tobacco Inc. Annual Report
84 Financial Review continued 1 CMS ,620 1, , ,435 1, , , GrysonNakhla 1, , , , , , , , % 5.30% 1.15% 5.30% 0.43% 9.00% 0.43% 5.90% Aa3 &S&P A R&I AA S&P R&I 082 Japan Tobacco Inc. Annual Report 2013
85 % 2.20% 0.46% 2.10% 1.60% 27.00% 1.07% 41.00% ,372 1, , , FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
86 , , , , , , ,361 29, , ,858 1,329,649 1,210, ,401 2,594 1,331,050 1,213, , , ,110,046 1,316, , , ,387 58, ,371 14, ,447 22, ,548 71, , ,348 2,335,957 2,639,493 3,667,007 3,852, Japan Tobacco Inc. Annual Report 2013
87 , , ,766 44,301 42,501 85, ,039 8, ,686 5, , ,305 1,157,373 1,112, ,157,474 1,112, , , ,994 18, , , ,448 4, , , ,460 97, , ,658 FINANCIAL INFORMATION 1,952,380 1,960, , , , , (94,574) (344,573) 25 (376,363) (155,462) 1,268,577 1,469,749 1,634,050 1,806,125 80,576 85,887 1,714,626 1,892,012 3,667,007 3,852,639 Japan Tobacco Inc. Annual Report
88 ,033,825 2,120, (892,034) (899,392) 1,141,791 1,220, ,512 42, ,047 2, (733,169) (733,385) 6 459, , ,603 5, (23,429) (28,292) 441, , (112,795) (158,042) 328, , , ,612 7,676 7, , , EBITDA , , , ,462 (29,932) (34,234) 29,039 7,536 EBITDA6 577, , Japan Tobacco Inc. Annual Report 2013
89 , , (130,331) 216, (166) ,750 4, (10,669) (28,200) (136,416) 192, , , , ,068 6,718 8, , ,356 FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
90 , ,410 (94,574) 763 (257,262) 5,754 (142) (5,754) (129,966) (166) (129,966) (166) , ,410 (94,574) 1,028 (387,228) (309) 215, , (250,000) (2) (249,999) , ,411 (344,573) 1,274 (171,383) (187) (250,745) 1,034,054 1,525,145 76,166 1,601,311 5,551 (344) 97 (247) 47 (201) 320, ,883 7, ,559 4,684 (10,009) (135,458) (135,458) (958) (136,416) 4,684 (10,009) (135,458) 320, ,425 6, , (76,172) (76,172) (2,138) (78,310) (366) (366) (137) (503) (89) 10,009 9,920 (9,920) (80) (80) (89) 10,009 10,185 (86,458) (76,273) (2,355) (78,628) ,146 (376,363) 1,268,577 1,634,050 80,576 1,714, , ,612 7, ,518 4,691 (28,201) 192, , ,838 4,691 (28,201) 192, , ,068 8, , (250,000) (250,000) 25 (2) (114,258) (114,258) (4,061) (118,319) (522) (505) (2) 28,201 28,199 (28,199) 1,606 1,606 (2) 28,201 28,444 (142,439) (363,993) (2,977) (366,970) ,835 (155,462) 1,469,749 1,806,125 85,887 1,892, Japan Tobacco Inc. Annual Report 2013
91 , , , ,462 7,013 3,213 (3,646) (5,137) 14,377 10,134 (2,047) (2,775) (22,444) (29,218) (30,207) (24,118) 27,388 10,791 (5,365) 1,576 (9,686) (15,350) (1,785) (31,377) 148,260 12,802 14,807 (3,093) (13,002) 16, , ,804 6,181 6,764 (16,006) (8,703) (122,464) (101,258) 551, ,608 (5,697) (19,161) 21,622 3,426 (95,705) (114,240) 34,545 33,425 (18,252) (18,611) (46,648) (26,647) 34,854 45,665 7 (33,622) (54,128) 730 4,369 2,343 (103,805) (147,928) 26 (76,165) (114,236) (2,138) (4,009) (2,408) (23,012) 518 (59,879) (81,165) (133,333) (92,466) (5,268) (4,814) (250,000) (503) (505) 0 (279,064) (569,473) 168,704 (250,793) 244, ,740 (8,204) (11,235) 8 404, ,713 FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
92 IFRS IFRS IFRS IFRS IFRS 9IAS 39IAS ,919 6 JT International Holding B.V. JT International Holding B.V.JTIH JTIH JTIH JTIH IFRS JTIH Japan Tobacco Inc. Annual Report 2013
93 JTIH12 31 FINANCIAL INFORMATION 4 i Japan Tobacco Inc. Annual Report
94 (a) (b) IAS 39 i (a) (b) 092 Japan Tobacco Inc. Annual Report 2013
95 IAS 39 i FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
96 IFRIC Japan Tobacco Inc. Annual Report 2013
97 IAS FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
98 IFRS Japan Tobacco Inc. Annual Report 2013
99 FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
100 5. IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IAS IFRS IAS IAS IAS IFRS 10 IAS IFRS 10IFRS 11IFRS 12 IAS IAS IAS IFRIC IFRIC IFRS IFRS 12 IAS Japan Tobacco Inc. Annual Report 2013
101 JT International S.A. 2 EBITDA FINANCIAL INFORMATION , ,255 47, , ,652 2,019,269 14,556 2,033,825 28,115 27, ,467 9,257 (65,724) 674, ,752 47, , ,422 2,075,736 23,813 (65,724) 2,033,825 EBITDA 1 262, ,755 (10,031) 14,584 5, ,981 (8,852) (997) 577,132 39,567 55,227 3,465 10,092 7, ,788 3,376 (319) 118, , ,336 1,677 7, , , ,047 56,224 39,141 3,897 8,102 7, ,671 4,321 (0) 118, Japan Tobacco Inc. Annual Report
102 ,138 1,010,655 53, , ,747 2,105,177 15,019 2,120,196 28,402 31, ,186 9,398 (69,583) 715,541 1,041,683 53, , ,394 2,165,362 24,417 (69,583) 2,120,196 EBITDA 1 281, ,304 (12,720) 12,429 7, ,691 (8,971) (595) 622,124 41,074 51,101 3,440 10,072 7, ,828 3,947 (313) 116, ,248 1,584 1,629 3, ,685 (11) 2, ,775 71,238 37,504 5,761 12,029 4, ,128 6,527 (206) 137,450 EBITDA EBITDA 1 262, ,755 (10,031) 14,584 5, ,981 (8,852) (997) 577,132 (39,567) (55,227) (3,465) (10,092) (7,436) (115,788) (3,376) 319 (118,845) ,368 29,932 5 (13,426) (7,737) (434) (21,597) (7,443) (29,039) 209, ,355 (13,497) 4,492 (2,454) 450,160 9,697 (677) 459,180 5,603 (23,429) 441, EBITDA 1 281, ,304 (12,720) 12,429 7, ,691 (8,971) (595) 622,124 (41,074) (51,101) (3,440) (10,072) (7,141) (112,828) (3,947) 313 (116,462) 5 1, ,595 32,639 34,234 5 (154) (3,057) (6,039) (9,250) 1,714 (7,536) 241, ,541 (16,160) 2,357 (5,822) 511,208 21,434 (282) 532,360 5, (28,292) 509,560 1 EBITDA 2 JT International S.A Japan Tobacco Inc. Annual Report 2013
103 , , , , ,4459, ,052 11,811 (4,279) 12, ,518 29,039 7,536 Hainburg 3 FINANCIAL INFORMATION , ,208 1,547,315 1,819,391 2,103,417 2,396, ,051,702 1,089, ,123 1,030,535 2,033,825 2,120,196 4 Megapolis 236, %268, % Japan Tobacco Inc. Annual Report
104 7. Gryson NV V.D.M. Invest Disprotab S.L. Gryson Deutschland GmbH Gryson Gryson NV V.D.M. Invest Disprotab S.L. 100% Gryson Deutschland GmbH 50% Gryson Roll Your Own RYOMake Your Own MYO RYO MYO 2 Gryson3, ,6272,125,823 2,084534, , ,857 (3,525) 51, ,483 9,696 20,179 (1,106) (4,202) (5,308) 14,871 39,986 39,986RYO MYO Japan Tobacco Inc. Annual Report 2013
105 , , ,943 20, , ,713 JTI Pars PJS Co.14, , , ,951 17,693 21,470 (1,729) (1,584) 327, ,837 FINANCIAL INFORMATION , , , ,043 39,327 47, , ,042 1 TS 2 12 Japan Tobacco Inc. Annual Report
106 ,941 4,077 39,106 46,699 8,835 15,676 24,306 5,347 34,858 38,181 (14,137) (9,096) 94, ,884 27,361 29,103 67,548 71,781 94, , KT&G Corporation 16,700 18,609 & 2,094 2,664 1,721 2,545 UFJ 1,447 2,010 1,437 1,846 1,269 1, (89) (2) 104 Japan Tobacco Inc. Annual Report 2013
107 , ,348 10,736 9,546 6,702 10,580 18,465 27, , , ,098 2,482 1,401 2, FINANCIAL INFORMATION 243 Japan Tobacco Inc. Annual Report
108 , ,094 53,887 29, ,324 15,207 34,579 22,750 26,417 98, ,781 (5,152) (18) (20) (5,191) (966) (2) (2) (969) (14,922) (48,959) (18,993) (82,874) (2,709) (2,052) (78) (4,840) (716) (4,051) (445) (253) (5,464) (6,011) (11,674) (1,041) (1,524) (20,250) 3,632 18,370 (311) (22,729) (1,037) , ,199 55,768 31, ,536 17,583 45,367 26,432 22, , ,386 1, ,391 (2,452) (6) (23) (2,482) (384) (0) (6) (389) (14,759) (44,587) (20,178) (79,524) (570) (202) (88) (860) (282) (4,762) (462) (115) (5,621) 9,129 14,570 1,928 1,677 27,303 4,233 19,684 1,822 (26,998) (1,259) , ,207 65,256 28, , %3.5% , , ,580 29,101 1,489, , , ,232 31,120 1,450, , , ,351 28,522 1,535, , ,318 98, , , ,446 99, , , , , , Japan Tobacco Inc. Annual Report 2013
109 ,170 8,569 11, ,875 6,749 9, ,378 3,364 6,798 11, , FINANCIAL INFORMATION ,176, ,632 18,828 24,734 1,506, ,982 13,347 19,651 29,352 6,947 36,298 (21,141) (7,567) (5,894) (34,602) (64) (0) (65) (49) (41) (92) (1,195) (1,377) (95,378) (15,544) (210) (176) (111,309) (22) , ,110, ,349 17,760 31,339 1,416, ,149 10,228 24,704 46,509 13, ,750 (20,767) (7,721) (5,815) (34,303) (61) (3) (64) (359) (214) (573) 159,918 37, , ,707 (6,524) 1, ,316, ,622 31,869 29,321 1,665,289 Japan Tobacco Inc. Annual Report
110 ,176, ,127 94,122 75,392 2,024, ,110, ,875 97,314 86,792 1,958, ,316, , ,640 87,671 2,249, ,495 75,294 50, , ,526 79,553 55, , ,122 79,770 58, , JTIH 1,067,544 1,273, , , RJR 2007 Gallaher ,273,971 1,067,54425,368 25, %6.6% 94.2%4.0% %11.8% %3.6% 91.1%0.3% %5.4% 2.7% 108 Japan Tobacco Inc. Annual Report 2013
111 ,161 4, ,945 4, ,102 8, ,693 7,424 FINANCIAL INFORMATION ,511 13, ,853 12, ,706 6, ,821 12, ,384 5,383 21,912 24, ,863 9,132 2,628 1,056 Japan Tobacco Inc. Annual Report
112 ,477 67, ,191 2,482 32,784 (2,518) (1,053) (5,491) (360) (493) (1,368) (2,634) (1,866) (2,289) (340) (506) ,387 58,995 79, ,976 43,445 77, , ,493 77,589 68, , ,642 58, , ,395 9,704 3,476 6, Japan Tobacco Inc. Annual Report 2013
113 4 1,8662, , , , ,483 23,480 26,306 FINANCIAL INFORMATION ,415,412 1,359,534 1,407,548 1,352,423 7,864 7,111 Japan Tobacco Inc. Annual Report
114 ,093 7,216 (810) 42, ,451 (11,740) 837 (689) 93,859 53,941 7,572 (1,783) 59,731 80,418 (6,122) 10 (1,569) 72, ,903 (3,074) 847 (4,850) 268,826 (68,877) 3,988 2, (61,679) 207, ,103 (3,896) 207, (129,350) 21, (107,789) (2,379) (436) (1,139) 37 (3,917) (22,421) (24,273) (1,628) 2,594 (45,728) (154,150) (3,217) (2,767) 2,701 (157,434) ,500 (2,036) 2,612 43,075 93,859 (5,992) 9,333 2,234 99,434 59,731 2,564 3,277 65,572 72,737 1,438 (107) 3,295 77, ,826 (4,026) 9,226 11, ,444 (61,679) (8,104) (148) (1,899) (71,829) 207,148 (12,129) 9,079 9, , (107,789) (736) (10,413) (118,937) (3,917) 1, (1,218) (3,440) (45,728) (1,254) (2,472) (5,744) (55,198) (157,434) (479) (2,289) (17,375) (177,576) Japan Tobacco Inc. Annual Report 2013
115 42, ,615 51,621537,128 3,22852,593 3,60152, , ,434 2,303 12, , ,042 3,0212, % 37.78% FINANCIAL INFORMATION % (11.65) (9.60) (7.07) (0.78) (0.85) (0.17) (1.25) , ,458 71,736 71,325 61,500 67, , ,741 Japan Tobacco Inc. Annual Report
116 21. 1 % ,133 3,816 43,486 23, ,219 20, ,061 49,277 33, , ,236 23,900 23, , , ,805 52, , , , , ,992 (59,992) % ,913 99, ,000 40, ,000 20, ,000 20, J TI UK Finance Plc J TI UK Finance Plc ,919 (29,919) 250GBP , EUR 350 (150) 320,534 (90,061) , EUR ( ) 237,236 ( ) Japan Tobacco Inc. Annual Report 2013
117 ,231 6, ,800 6, ,311 1, ,692 1,367 FINANCIAL INFORMATION ,357 1,078 3,458 2,802 8, ,217 3,938 2,565 11, (2) (4,406) (3,384) (965) (8,757) (205) (74) (238) (518) (67) (245) (312) , ,938 3,919 10, ,938 1,135 5,686 1, ,784 4,448 1, ,938 3,919 10,135 Japan Tobacco Inc. Annual Report
118 , ,938 3,919 10, ,951 4, , (49) (3,945) (3,811) (255) (8,061) (62) (226) (126) (583) (997) , ,073 3,824 10, , ,256 1, ,090 4,786 1, ,073 3,824 10, , ,765 15,052 14, , ,375 83,182 85,388 39,739 45,461 18,560 19,815 94, , , , , ,305 92, , , , Japan Tobacco Inc. Annual Report 2013
119 , , ,579 11,455 4,793 16,249 3,878 14,033 17,911 1,000 1,000 6,445 4,947 11,392 (20,467) (14,058) (34,525) ,991 1,991 (52) (52) (16,355) (16,355) , , ,808 12,152 5,151 17,304 3,201 12,923 16, ,811 42,378 66,189 (18,538) (15,906) (34,443) (67) (456) (523) (49) (49) 44,462 44, , , ,797 FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
120 , , ,166 2,366 11,193 13,559 (1,522) 1,119 (404) 3,424 8,299 11,723 1,000 1,000 (8,539) (10,653) (19,193) (11,789) (11,789) , , ,082 2,205 8,915 11,120 18,042 10,019 28,060 3,115 9,204 12, (7,996) (10,845) (18,842) 34,897 34, ,857 1, , , , , , , ,178 (92,168) (209,914) (302,082) 15,283 (1,187) 14, ,439 66, , ,722 65, , ,722 79, ,226 (14,371) (14,371) 145,722 65, , Japan Tobacco Inc. Annual Report 2013
121 , , ,044 (107,590) (264,835) (372,425) 12,915 10,704 23, ,993 89, , , , , , , ,281 (4) (14,821) (14,825) 150, , ,456 % FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
122 % % (9,438) (17,195) (10,223) (24,121) 0.5% 10,153 19,130 11,022 27, % 12,547 18, % (11,340) (17,726) , , ,579 (96,440) (210,726) (307,166) 140,031 67, ,412 5,264 (1,274) 3, (8,183) (7,659) , , ,808 (92,168) (209,914) (302,082) 145,722 65, ,726 (235) (7,509) (7,744) 1,522 (1,119) , , ,797 (107,590) (264,835) (372,425) 150, , ,372 13,902 5,431 19,333 (18,042) (10,019) (28,060) 120 Japan Tobacco Inc. Annual Report 2013
123 ,455 4,793 16, ,878 14,033 17,911 1 (2,366) (11,193) (13,559) ,991 1,991 (52) (52) 13,018 9,752 22,770 (843) (12,312) (13,155) ,152 5,151 17, ,201 12,923 16,123 1 (2,205) (8,915) (11,120) (67) (515) (581) (49) (49) 13,081 9,394 22,475 (20,247) (18,937) (39,184) FINANCIAL INFORMATION 1 25,5064, ,577 89, , (529) (9,536) (8,891) 2 (4,279) 89,794 76, Japan Tobacco Inc. Annual Report
124 % % (2,863) (2,372) 0.5% 2,963 2, (34,461) (45,131) (10,669) (28,200) (45,131) (73,331) , ,369 62,590 69,161 37,075 39,982 22,194 22,662 3,270 2, ,000 8,000, , , , , , , ,990, ,000, , , ,990, Japan Tobacco Inc. Annual Report 2013
125 , , , , , , , ,000 80,071230, , FINANCIAL INFORMATION ,086 4, ,086 4, ,129 6, , Japan Tobacco Inc. Annual Report
126 ,129 6, , ,610,757 6,673,222 (4,576,932) (4,553,027) 2,033,825 2,120,196 IFRSRevenue 124 Japan Tobacco Inc. Annual Report 2013
127 ,134 35, ,378 6,970 48,512 42, ,368 34, ,932 34, FINANCIAL INFORMATION ,530 20, , ,480 27,920 27,092 40,963 41, , , ,461 56,860 58,550 59, ,013 3, ,454 9,265 12, , , , , ,651 3,835 5,837 3,076 3,342 1, ,197 14,052 9,366 Japan Tobacco Inc. Annual Report
128 ,280 1,365 2,366 3,772 1, ,603 5, ,962 9, ,738 11, ,523 5, ,153 23,429 28, (130,331) (130,331) (130,331) (556) 317 (239) 73 (166) 6,248 6,248 (1,498) 4,750 (12,379) (12,379) 1,709 (10,669) (137,017) 317 (136,700) 284 (136,416) ,140 (22) 216, ,118 4,102 (3,914) 188 (66) 121 7,344 7,344 (2,545) 4,799 (37,600) (37,600) 9,400 (28,200) 189,986 (3,936) 186,050 6, , Japan Tobacco Inc. Annual Report 2013
129 , , , , ,904,295 1,897, , , , ,612 FINANCIAL INFORMATION ,904,295 1,897, ,905,040 1,898, , ,612 (29,932) (34,234) 29,039 7,536 2,025 12,772 (31,207) 1 290, , Japan Tobacco Inc. Annual Report
130 33. 2,9774, (i) (ii) ,524 1,557 3,081 1,875 2,244 4, , , , ,038 65,600 80, ,800 (600) (600) (163) 163 (116,200) 116,200 1,875 2,244 4, , , , , , ,9471,600 52, Japan Tobacco Inc. Annual Report 2013
131 ,000 2, % 36.0% , % 1.30% FINANCIAL INFORMATION S , ,242 (404,740) (142,713) 97, ,530 1,634,050 1,806, Japan Tobacco Inc. Annual Report
132 ROE ,635 2, ,709 6, ,322 15, ,444 (8,795) (6,016) (2,120) (922) (55) ,866 10, Japan Tobacco Inc. Annual Report 2013
133 , , ,663 43,486 43,486 43, ,219 78,219 78,219 49,277 49,277 20,593 1,103 27, ,061 90,109 90, , , ,483 40,000 40, , , ,477 20, ,586 67, ,401 1,630 1,630 1, ,350 2,472 (47) (94) (200) 2,813 5,133 4,254 1,632 (56) (163) 2, , , ,109 20, ,423 69, , FINANCIAL INFORMATION , , ,741 23,847 23,847 23, ,454 20,454 20,454 33,163 33,163 1,217 31, , , ,298 40,000 20,000 20, , , , ,515 71, ,109 20,584 3,614 3,614 3, ,816 3,814 3, , , , ,582 71, ,109 20, Japan Tobacco Inc. Annual Report
134 , ,597 76, , ,597 5 (i) (ii) (iii) (i) (ii) (iii) ,143 (1,227) 318,342 2,298 35, ,921 (2,585) 122,235 (877) 476,263 (287) , , , , % ,178 (118) 132 Japan Tobacco Inc. Annual Report 2013
135 6 i ,959 1,187 1,814 1,814 (150) 2,063 2,063 (202) 29, ,732 1,814 1,037 2,063 2,063 (202) FINANCIAL INFORMATION ii (2) 58 (0) 30,000 30,000 (3,350) 30,000 30, ,198 30,058 (3,352) 30,058 30, bp , , ,844 53,617 53, , , , ,334 1 Japan Tobacco Inc. Annual Report
136 ,941 1,941 35,712 3,394 39, ,016 35,783 1,941 4,339 42,063 5,133 5,133 5,133 5, ,077 4,077 43,052 3,646 46, ,098 43,172 4,077 4,625 51,874 3,816 3,816 3,816 3, ,530 4,339 1 (337) (206) (24) 4,339 4, Japan Tobacco Inc. Annual Report 2013
137 % FINANCIAL INFORMATION ,541 78,802 8,183 2,108 40,724 80,909 2 Japan Tobacco Inc. Annual Report
138 38. RJR 28 i 1 Joselowitz ii 8 Cecilia Letourneau JTI-Macdonald Corp. JTI-Mac3 1 6, Conseil quebecois sur le tabac et la sante JTI-Mac3 4, Adams JTI-Mac Kunta JTI-Mac JTI-Mac Semple JTI-Mac JTI-Mac 136 Japan Tobacco Inc. Annual Report 2013
139 Bourassa JTI-Mac McDermid JTI-Mac Jacklin JTI-Mac iii 9 tobacco related wrong JTI-Mac JTI-Mac JTI-Mac 4 6, JTI-Mac JTI-Mac JTI-Mac 5 6, JTI-Mac 9, JTI-Mac JTI-Mac FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
140 ,108 1,057,391 1,608,399 2,120, , , , ,560 86, , , , Japan Tobacco Inc. Annual Report 2013
141 Deloitte Touche Tohmatsu Limited FINANCIAL INFORMATION Japan Tobacco Inc. Annual Report
142 JT Group is a leading international tobacco company with our products sold in over 120 countries Our internationally recognized brands include Winston, Camel and Mild Seven-MEVIUS. We also have pharmaceutical, beverage and processed food business which allow us to diversify our sources of profit to achieve future sustainable growth.
143 財務データ 海外たばこ事業関連データ 国内たばこ事業関連データ 医薬事業関連データ 飲料事業 加工食品事業関連データ 従業員数 関係会社 FACT SHEETS
144 Fact Sheets 30,000 20,000 IFRS 10, ,087 20,510 25,873 28,271 25,141 24,326 25,471 20,594 20,338 21,202 4,843 5,503 10,577 12,433 10,391 9,635 9,663 9,635 9,663 10,107 11,732 11,472 11,222 10,703 10,167 10,279 11,475 6,658 6,462 6, ,783 2,865 3,364 4,359 3,946 3,750 3,670 3,675 3,594 1,888 1,855 1,707 1, ,808 9,067 8,878 8,946 8,878 8,946 9,431 6,488 6,159 6,179 5,968 6,322 6,119 6, ,000 7,500 5,000 2, ,966 5,926 7,502 9,141 8,155 7,883 7, ,508 1,585 2,060 2,315 2,160 2,171 2, ,421 1,280 1,636 1,623 1,437 1,408 1, , Japan Tobacco Inc. Annual Report 2013
145 IFRS 10,000 7,500 5,000 2,500 IFRS ,271 7,332 7, ,315 1,280 1, ,312 2,351 2, ,332 1,387 1, IFRS FACT SHEETS IFRS 7 Japan Tobacco Inc. Annual Report
146 EbITDa EbITDa 7,500 5,000 IFRS 2, EBITDA EBITDA 4,333 4,646 6,020 6,462 5,267 5,426 5,811 5,220 5,771 6, ,126 2,707 3,379 2,776 2,930 3,126 2,779 3,148 3,433 3,057 3,264 3,067 2,722 2,576 2,577 2,725 2,472 2,623 2,813 (18) (81) (62) 48 (96) (133) (123) (98) (100) (127) (121) (133) (110) (98) (96) EBITDA EBITDA ,000 IFRS 4,000 2, ,069 3,319 4,305 3,638 2,965 3,332 3,747 4,013 4,592 5, ,053 1,747 1,369 1,641 1,853 2,259 2,524 2,895 2,200 2,453 2,223 1,882 1,987 2,129 2,296 2,023 2,093 2,413 (50) (112) (96) 10 (135) (174) (161) (133) (135) (162) (114) (136) (94) (63) (36) (25) (58) (169) (179) (99) Japan Tobacco Inc. Annual Report 2013
147 (91) (199) (678) (562) (411) (202) (119) ,000 3,000 2,000 1, ,978 3,120 3,626 3,075 2,553 3,131 3,627 FACT SHEETS IFRS IFRS (259) (234) (283) Japan Tobacco Inc. Annual Report
148 (454) 206 (319) (177) ,000 3,000 2,000 1,000 IFRS ,015 2,107 2,387 1,234 1,384 1,454 2,274 2,433 3,209 3,436 1 EpS 1 EpS 120,000 90,000 60,000 30, ,084 22,001 24,916 12,880 14,451 15,184 23,883 25, ,879 14,448 15,179 23,873 25, IFRS Japan Tobacco Inc. Annual Report 2013
149 RoE RoE % IFRS Roa % IFRS FACT SHEETS % IFRS Japan Tobacco Inc. Annual Report
150 5,000 2,500 0 IFRS 7,500 15, ,455 2,230 (14,937) 2,401 2,507 2,997 4,524 3,004 4,513 3,160 FCF 1,500 IFRS 1, ,021 1,295 1,342 1,371 1,460 1,195 1,484 1,190 1, ,000 2,000 IFRS 1, ,264 1,326 1,715 2,824 2,301 2,094 2,064 1,180 1,188 1, ,631 1,407 1,290 1, IFRS Japan Tobacco Inc. Annual Report 2013
151 60,000 IFRS 40,000 20, ,373 33,646 50,872 38,798 38,725 35,441 34,726 36,552 36,670 38,526 9,948 12,750 38,044 27,000 27,659 11,317 11,803 8,471 7,886 7,822 1,179 1,061 1,114 1,115 1,140 1,414 1,588 3,532 3,326 3,111 1,944 2, ,000 20,000 15,000 10,000 5,000 IFRS % ,625 20,246 21,546 16,242 17,232 15,718 16,105 16,013 17,146 18, FACT SHEETS 1 bps1 bps 1,000, , , , ,000 IFRS , , , , , , , , , Japan Tobacco Inc. Annual Report
152 15,000 12,000 9,000 6,000 3,000 IFRS ,796 11,856 2,188 1,698 1,673 2,766 4,312 2,766 4,312 1, ,166 2,192 13,892 9,960 8,743 7,087 5,052 7,091 5,024 3, IFRS IFRS Japan Tobacco Inc. Annual Report 2013
153 1 16, ,000 8,000 4, ,000 4,000 4,800 5,400 5,800 6,800 10, % IFRS FACT SHEETS Japan Tobacco Inc. Annual Report
154 5,000 4,000 3,000 2,000 1, ,203 2,401 3,856 4,523 4,349 4,284 4,257 4,365 GFB 1,338 1,491 2,032 2,455 2,434 2,498 2,565 2,688 Winston ,110 1,264 1,212 1,250 1,307 1,394 Camel Mild Seven MEVIUS Benson & Hedges Silk Cut LD Sobranie Glamour ,824 2,068 1,915 1,786 1,693 1,677 Fine cut, Cigar, Pipe, Snus 2008 Cigar, Pipe, Snus GFB Winston, Camel, Mild Seven, Salem GFB Winston, Camel, Mild Seven MEVIUS, Benson & Hedges, Silk Cut, LD, Sobranie, Glamour 8 5,000 4,000 3,000 2,000 1, ,203 2, CIS 1,383 1,580 2,401 3,856 4,523 4,349 4,284 4,257 4,365 South & West Europe North & Central Europe CIS 1,086 1,951 2,197 2,146 2,036 1,978 1,974 Rest of the World ,177 1,084 1,127 1,180 1,265 Fine cut, Cigar, Pipe, Snus 2008 Cigar, Pipe, Snus 152 Japan Tobacco Inc. Annual Report 2013
155 RUB % % % 7.00% 7.50% 7% 7.50% 0% % % % 18.00% 18.00% 0% 18.00% 0% RUB % % % % % % % JTI estimates FACT SHEETS Switzerland Germany UK Northern Ireland Belgium Andorra Spain Canaries Tunisia Sweden Poland Serbia Russia Saint Petersburg Russia Leningradskaya Oblast Russia Moscow Russia Yelets, Lipetskaya Oblast Ukraine Kazakhstan Turkey Romania Jordan Egypt (Cairo) Egypt (Shebin El-Kom) Republic of Sudan Khartoum South Sudan Juba Canada USA Tanzania Malawi Malaysia South Africa Brazil Japan Tobacco Inc. Annual Report
156 3,000 2,000 1, ,852 2,700 2,585 2,458 2,338 2,102 1,975 1,951 JT JT % 2,000 1, , JT 1,894 1,749 1,677 1,599 1,518 1,346 1,084 1,162 JT Japan Tobacco Inc. Annual Report 2013
157 % FACT SHEETS JT JT s JT JT JT JT PMJ JT JT JT JT s JT s JT KS PMJ BATJ JT JT JT s JT KS PMJ 1.2 Japan Tobacco Inc. Annual Report
158 100 % mg mg mg mg mg JT % mgJT mgJT mgJT mgJT mgJT % JT Japan Tobacco Inc. Annual Report 2013
159 440 D-spec % JT D-spec D-spec DecreasedDecent JT 5,600 5,000 4,400 3, JT 3,864 3,990 4,057 4,057 4,056 4,582 5,502 5,502 JT { 1,000 FACT SHEETS JT % Japan Tobacco Inc. Annual Report
160 D-spec181mg34404 D-spec mg mg s JT JT Japan Tobacco Inc. Annual Report 2013
161 % * JT % FACT SHEETS JT Japan Tobacco Inc. Annual Report
162 1,000 5, , % / % / / / / / / / / ,032 3,126 3,126 3,126 2,716 3,126 3,552 5, ,000 3,126 3,126 3,126 3,536 3,946 4,372 6, , ,032 6,252 6,252 7,072 7,072 7,892 8,744 12, % 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 1, % 59.7% 59.7% 59.1% 61.3% 61.3% 63.2% 63.1% 64.5% % % % % % % % % % % % % % % % % % % JT % % % 160 Japan Tobacco Inc. Annual Report 2013
163 FACT SHEETS 6 3 Japan Tobacco Inc. Annual Report
164 Japan Tobacco Inc. Annual Report 2013
165 JT JT ha FACT SHEETS Japan Tobacco Inc. Annual Report
166 1kg 1, ,000 1,500 1, kg 1,801 1,818 1,833 1,803 1,859 1,849 1,865 1, (95) Japan Tobacco Inc. Annual Report 2013
167 JTK-303 elvitegravir JTT-705 dalcetrapib HIV CETP HIV HDL LDL CETP HDL JTT-302 CETP HDL LDL CETP HDL JTT-751 JTT GPR40 JTZ-951 HIF-PHD HIF-PHD JTE-051 JTE-052 ITK JAK T JAK Phase2 Phase2 Phase2 Phase2 Phase1 Phase1 Phase1 Phase1 Keryx Biopharmaceuticals FACT SHEETS elvitegravir JTK-303 trametinib dalcetrapib JTT-705 Gilead Sciences GlaxoSmith Kline Roche MEK CETP ICOS MedImmune ICOS HIV HIV Phase3 MEK HDL LDL CETP HDL T ICOS dabrafenib Japan Tobacco Inc. Annual Report
168 5,000 4,000 3,000 2,000 1,000 IFRS ,783 2,865 3,364 4,359 3,946 3,750 3,670 3,675 3,594 1,853 1,907 1,949 1,873 1,861 1,924 1,963 1,858 1,888 1, ,414 2,486 2,085 1,826 1,706 1,817 1,707 1, , , ,000 50, , , , , , , , ,000 40,500 38,000 35,500 32,000 33,000 33,000 35,000 39,000 61,500 66,000 71,500 76,500 82,000 83,000 84,000 83,000 JT 166 Japan Tobacco Inc. Annual Report 2013
169 50,000 40,000 30,000 20,000 10, ,476 33,428 47,459 47,977 49,665 48,472 48,529 49,507 11,943 12,401 22,324 23,227 24,751 23,902 24,237 24,397 11,795 11,534 11,548 11,281 11,282 11,191 11,092 11,043 1,532 1,554 1,569 1,616 1,634 1,664 1,693 1,744 5,232 7,084 11,169 10,975 11,143 10,864 10,646 4,912 6, ,855 8,930 8,999 8,908 8,961 8,928 8,936 8,925 9,931 9,984 10,010 9,973 9,883 9,842 9,824 9, TS JT International Group Holding B.V. USD 1,800, JT International Holding B.V. JT International S.A. Gallaher Ltd. JTI Marketing and Sales CJSC LLC Petro Liggett-Ducat CJSC JT International Germany GmbH JTI Tütün Urunleri Sanayi A.S. JTI-Macdonald Corp. USD 1,800,372 CHF 1,215,425 GBP 172,495 RUB 108,700 RUB 328,439 RUB 260,366 EUR 37,394 TRY 148,825 CAD 535, , Akros Pharma Inc. USD , FACT SHEETS Japan Tobacco Inc. Annual Report
170 Strong emphasis on shareholder return improvement We are targeting competitive shareholder return comparable to global FMCG players. In order to drive shareholder return improvement, we have set targets for dividend payout ratio and adjusted EPS growth rate.
171 170 SHAREHOLDER INFORMATION
172 Shareholder Information ,000,000,000 2,000,000, ,301 UFJ ,933,800 52,667,589 52,047,200 45,316,400 33,800,000 31,006,706 25,167, ,666, ,539,365 HSBC BANK PLC A/C THE CHILDRENS INVESTMENT MASTER FUND 19,247, Japan Tobacco Inc. Annual Report 2013
173 1 1,362,000 2,110,000 1,438, ,438, , , , , , ,39035, , ,33491, , ,625,500107,636, ,261, ,500 3,500 3,000 3,000 2,500 2,500 2,000 1,500 1, ,000 1,500 1, SHAREHOLDER INFORMATION Japan Tobacco Inc. Annual Report
174 JT s history dates back to 1898 when the Japanese government formed a monopoly bureau to operate the exclusive sales of domestic tobacco leaf Since then, the company has undergone four government share offerings, diversified into pharmaceutical, beverage and processed food business, and executed two large acquisitions, extending our global platform and our position as a leading international tobacco company.
175 174 JT OTHER INFORMATION
176 History of the JT Group JT before 1985 JT 1898 JT1784Austria Tabak 70 Tom Gallaher 1874 RJR JT JT JT 174 Japan Tobacco Inc. Annual Report 2013
177 JT Austria Tabak Joseph 1857 Tom Gallaher 1874 RJR Richard Joshua Reynolds Ducat RJR & American Tobacco Company OTHER INFORMATION Japan Tobacco Inc. Annual Report
178 History of the JT Group continued JT In and after JT 1992 Manchester Tobacco Company Ltd. AS-Petro * , Yelets * Peter I * , Tanzanian tobacco * American Brands ** RJR LD ** 2000 Liggett-Ducat ** 2001 Austria Tabak** , , , CRES Neva Ltd. ** AD Duvanska Industrija Senta *RJRJT **JT 176 Japan Tobacco Inc. Annual Report 2013
179 JTI10 6 JTI Leaf Services US LLC 10 Kannenberg & Cia. Ltda. Kannenberg, Barker, Hail &Cotton Tabacos Ltda. 11 Tribac Leaf Limited Fine Cut Gryson NV ,333,200 JT 2 27ToSTNeT-3 86,805,500 80,071,400 JT 253,261, Al Nakhla Tobacco Company S.A.E. Al Nakhla Tobacco Company Free Zone S.A.E. JT JT RJR JT 2 JT 1985JT JT JT % % RJR2007 JT & LD JT , Haggar Cigarette & Tobacco Factory Ltd. Haggar Cigarette & Tobacco Factory Ltd. OTHER INFORMATION Japan Tobacco Inc. Annual Report
180 Regulation and Other Relevant Laws 2003WHO FCTC EU2001 EU TPD EU PP PP PP PP Japan Tobacco Inc. Annual Report 2013
181 WHO OTHER INFORMATION Japan Tobacco Inc. Annual Report
182 Regulation and Other Relevant Laws continued responsibilities/activity/index.html JTI Japan Tobacco Inc. Annual Report 2013
183 JAS JAS JAS Food Safety Food DefenseFood Quality Food Communication 4 OTHER INFORMATION Japan Tobacco Inc. Annual Report
184 Litigation RJR RJR , , JTIRJR 9 tobacco related wrong Japan Tobacco Inc. Annual Report 2013
185 OTHER INFORMATION Japan Tobacco Inc. Annual Report
186 Members of the Board, Audit & Supervisory Board Members and Executive Officers * 215 * 216 CSR R&D CSR 184 Japan Tobacco Inc. Annual Report 2013
187 Corporate Data Fax URL ,000 JT International S.A. 1, Rue de la Gabelle CH-1211 Geneva 26, Switzerland Fax URL: JT International Executive Committee Pierre de Labouchere President and Chief Executive Officer Masamichi Terabatake Executive Vice President and Deputy CEO Thomas A. McCoy Chief Operating Officer Paul Bourassa Senior Vice President Legal, Regulatory Affairs and Compliance Stefan Fitz Regional President Asia Pacific Roland Kostantos Senior Vice President Finance, Information Technology and Chief Financial Officer Paul Neumann Senior Vice President Global Leaf Howard Parks Senior Vice President Consumer & Trade Marketing Fadoul Pekhazis Regional President Middle East, Near East, Africa, Turkey and World Wide Duty Free Eddy Pirard Regional President Western Europe Michel Poirier Regional President Americas Jörg Schappei Senior Vice President Human Resources Bill Schulz Senior Vice President Global Supply Chain Takehisa Shibayama Senior Vice President Research & Development Kevin Tomlinson Regional President CIS Vassilis Vovos Regional President Central Europe Frits Vranken Senior Vice President Business Development and Corporate Communications OTHER INFORMATION Japan Tobacco Inc. Annual Report
188 Tel: Fax: URL: VOC 1%VOC Printed in Japan
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