Japan Tobacco still addicted to crumbling cigarette strategy

Investors say prescription for growth lies in drug business

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Sign outside the Prince Park Tower Hotel in Tokyo, which hosted Japan Tobacco's shareholders meeting on March 24.

TOKYO -- While Japan Tobacco's flagship cigarette business is struggling, its once-moribund pharmaceutical segment is realizing new success. But drugs only account for 3% of group profits, and there is apparently little momentum to enlarge that proportion.

A shot in the arm

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