TOKYO -- Japan Tobacco fell behind on the curve against international competitors when it came to the rollout of heated cigarettes, and now the company is paying the price in both its bottom line and the equity market.
JT on Monday reported a 421.6 billion yen ($3.75 billion) group net profit for the full year ended December, down 13% from the prior year under international accounting standards. The Tokyo-based group also forecasts its earnings will narrow further this fiscal year.
