Japan Tobacco Inc. · TSE:2914

Japan Tobacco — FY2017 Earnings Presentation

10 slides from Japan Tobacco's earnings presentation, Feb 7, 2018

  1. Slide 1: JTI 2017年における成果および2018年ガイダンス

    JTI 2017ᖺ䛻䛚䛡䜛ᡂᯝ䛚䜘䜃 2018ᖺ䜺䜲䝎䞁䝇 Eddy Pirard President & Chief Executive Officer లਟपঢ়घॊ੶஽ಉपणःथभओିਔ মৱમपम‫ؚ‬ਊ঺ྼमਊ঺ॢঝ‫ش‬উभ঵ౚपঢ়৴खथలਟपঢ়घॊ੶஽॑அ॒दउॉऽघ‫؛‬ऊऊॊలਟपঢ়घॊ੶஽म‫َؚ‬અइथःऽघَُৄ੢ ॒दःऽघَُ੒਋खथःऽघَُ੒୳खथःऽघَُ੒ৄखथःऽघَُੑ઺َُਅറَُ૭ચਙُಉभୁ཭ृ‫ؚ‬లਟभহ঵ણ৿‫ؚ‬঵ౚ‫ؚ‬হ଴ ྼम૖੯॑਀घ৊஘भୁ཭॑அिऒधऋँॉऽघ‫؛‬లਟपঢ়घॊ੶஽म‫ؚ‬ਠ૔োুदऌॊੲਾप੦तऎ৽੾঻भਖ਼૵‫ؚ

  2. Slide 2: JTI performance and GFB share gains

    ᑗ᮶䛾ᡂ㛗䛻ྥ䛡䛯ᢞ㈨䜢ᐇ⾜䛧䛴䛴ຊᙉ䛔฼┈ᡂ㛗䜢ᐇ⌧ -7,SHUIRUPDQFH ‡ 䝅䜵䜰ఙᙇ䛻䜘䜛ዲㄪ䛺*)%䝰䝯䞁䝍䝮 7RWDOYROXPH ‡ ୺䛻䝻䝅䜰䞉8.䛻䛚䛡䜛䝖䝑䝥䝷䜲䞁䜈 $GMXVWHG 䛾ᢞ㈨䛜&RUH UHYHQXH䛻ᙳ㡪 RSHUDWLQJSURILW *)%YROXPH ‡ ㈙཰䛻䜘䜛஦ᴗᇶ┙ᙉ໬ ‡ 䜾䝻䞊䝞䝹䝃䝥䝷䜲䝏䜵䞊䞁䛾᭱㐺໬䛜 Ⅽ୍᭰ᐃ䛷䛾฼┈ᡂ㛗䜢≌ᘬ &RUHUHYHQXH 8.䛻䛚䛡䜛ὶ㏻ྲྀᘬඛ䛾ಽ⏘⏦ㄳ䛻క䛖ᦆኻ䜢ྵ 䜑䛶䜒䚸䠐䠂䛾฼┈ᡂ㛗 Note: 2017 vs. PY. At constant currency. ‹&RS\ULJ

  3. Slide 3: Winston and Camel: GFB growth momentum

    Winston: GFB䛾ᡂ㛗䝰䝯䞁䝍䝮䜢≌ᘬ ‡ 䝫䞊䝖䝣䜷䝸䜸䜈䛾ᢞ㈨䛜⤖ᐇ䛧䚸ᖺ㐃⥆䛷䛾 9ROXPH ຊᙉ䛔ᩘ㔞ᡂ㛗䜢㐩ᡂ ᕷሙ䛻䛚䛔䛶 ᕷሙ䛻䛚䛔䛶 ‡ 䝣䝷䞁䝇䚸䝻䝅䜰䚸䝇䝨䜲䞁䚸䝖䝹䝁䜢䛿䛨䜑䛸䛩 䜛௨ୖ䛾ᕷሙ䛷䝸䞊䝕䜱䞁䜾䝫䝆䝅䝵䞁䜢ಖ WR%Q8 ஧᱆ᡂ㛗 ൨ᮏ௨ୖ䜢 ᣢ ㈍኎ 6R0 SS ᕷሙ䛻䛚䛔䛶 ᕷሙ䛻䛚䛔䛶 WR 䝅䜵䜰ఙᙇ 㐣ཤ᭱㧗䝅䜵䜰 㐩ᡂ Winston XStyle Duo - Russia ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ Note: 2017 Volume and SoM

  4. Slide 4: Russia: Winston and LD reach record share

    䝻䝅䜰: ᕷሙ䝅䜵䜰䛜╔ᐇ䛻ᅇ᚟ 6KDUHRIPDUNHW 䝫䞊䝖䝣䜷䝸䜸䜈䛾ᢞ㈨䛜ᐇ䜢⤖䜃ຊᙉ䛔 䝅䜵䜰ఙᙇ䜢㐩ᡂ +2.0pp ‡ ౯᱁䛾㐺ṇ໬䛻䜘䜚➇தຊ䜢ᙉ໬ ‡ ప౯᱁ᖏ䛻䛚䛡䜛䝅䜵䜰ఙᙇ SSYV4¶ #2 28.4% ‡ &LJDUHWWHV䜹䝔䝂䝸䞊ෆ䛾䛩䜉䛶䛾ᡂ㛗 27.2% 27.3% 27.2% 27.2% 26.7% 䝉䜾䝯䞁䝖䛻䛚䛔䛶┠ぬ䜎䛧䛔ᡂᯝ 4 µYV4µ 23.2% 23.4% ‡ 䝣䝺䞊䝞䞊䜸䞁䝕䝬䞁䝗〇ရ 22.7% 22.3% 21.9% #3 21.1% SS ‡ 䝁䞁䝟䜽䝖〇ရSS 4 4 4 4 4 ‹&RS\ULJKW-7 Tokyo – F

  5. Slide 5: UK share momentum recovery; Europe GFB performance

    UK: 䝅䜵䜰䝰䝯䞁䝍䝮䛜᚟ㄪ -7,VKDUHRIPDUNHW )&7 43.2% ‡ )LQH FXW䜹䝔䝂䝸䞊䛷䛾౯᱁➇த䛾⃭໬ 42.1% 42.3% 䛚䜘䜃᪂䛯䛺つไ䛾᪋⾜➼䚸8.ᕷሙ䛻 41.7% 䛸䛳䛶ཝ䛧䛔୍ᖺ 40.7% ‡ ➨ᅄ༙ᮇ䛻䛚䛔䛶䚸䝅䜵䜰䛜ᡂ㛗㌶㐨 7RWDO 䜈ᅇᖐ ‡ )LQHFXW± 6WHUOLQJ䛜ᡂ㛗䛧䛯䛣䛸䛻 39.6% 39.4% 39.5% 39.7% ຍ䛘䚸$PEHU /HDI䛾䝖䝺䞁䝗䜒ᨵၿ 50& 39.1% ‡ &LJDUHWWHV±% +䛸6RYHUHLJQ䛾ዲ ㄪ䛺䝟䝣䜷䞊䝬䞁䝇 'HF -XQ 2FW 1RY 'HF ‹&RS\UL

  6. Slide 6: Iran: Winston strong performance

    䜲䝷䞁: Winston䛻≌ᘬ䛥䜜䛯┠ぬ䜎䛧䛔䝟䝣䜷䞊䝬䞁䝇 ‡ ᖺ㐃⥆䛷஧᱆䛾ᩘ㔞ᡂ㛗䜢㐩ᡂ 6R0 䛧䚸཰┈㈉⊩䜒䜘䜚ᙉᅛ䛻 ‡ ┙▼䛺1R䝫䝆䝅䝵䞁 䝅䜵䜰䛿௨ୖ ‡ 1R䛾50&䝤䝷䞁䝗䛷䛒䜛:LQVWRQ 䛿䚸㐣ཤ᭱㧗䛾㈍኎ᩘ㔞䛚䜘䜃 䝅䜵䜰䜢㐩ᡂ 9ROXPH ‡ $7,㈙཰ᚋ䛾ᙉ㠌䛺஦ᴗᇶ┙ ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ Note: SoM on 12-month rolling average to December. Source: Internal estimates. 䜰䝆䜰䝟䝅䝣䜱䝑䜽:

  7. Slide 7: Asia Pacific: organic growth and acquisitions

    䜰䝆䜰䝟䝅䝣䜱䝑䜽: ᣢ⥆ⓗᡂ㛗䛻㈨䛩䜛䜸䞊䜺䝙䝑䜽䛷䛾ᩘ㔞ᡂ㛗䜢GFB䛜≌ᘬ *)%YROXPHJURZWKLQVHOHFWHG$VLDQPDUNHWV YV3< 7:1 3+/ .25 .+0 7+$ KEY DRIVER 6*3 005 910 ,'1 ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ 䝣䜱䝸䝢䞁䛚䜘䜃䜲䞁䝗䝛䝅䜰: 䛥䜙䛺䜛஦ᴗᇶ┙ᙉ໬䛻ྥ䛡䛯㈙཰ 䜰䝆䜰䛾&LJDUHWWH䜹䝔䝂䝸䞊䛻䛚䛡䜛 ከᒱ䛻䜟䛯䜚䝥䝺䝊䞁䝇䜢 ஧䛴䛾᭷ຊᕷሙ ኱䛝䛟ᙉ໬ %Q8 6R0 ప౯᱁ᖏ䛻 YV 䛚䛡䜛 ྲྀᢅᗑ⯒ᩘ䛜 EHI

  8. Slide 8: Cost base evolution; SoM in top markets

    䝃䝥䝷䜲䝏䜵䞊䞁䛚䜘䜃ᴗົ䝥䝻䝉䝇᭱㐺໬䛻䜘䜛䝁䝇䝖పῶ &RVWEDVHHYROXWLRQ DWFRQVWDQW); ‡ ィ⏬ⓗ䛻ᐇ᪋䛧䛶䛝䛯᪋⟇䛻䜘䜛䝁䝇䝖పῶຠᯝ䛜ᖺ䛾 ฼┈ᡂ㛗䜢≌ᘬ ‡ 〇㐀యไ䛾᭱㐺໬ ‡ ᑐ๓ᖺ䛷䛾ཎᮦᩱ㈝┦ᑐῶ䛻䜘䜛䝁䝇䝖䝧䝛䝣䜱䝑䝖 ‡ ⥅⥆ⓗ䛺ᴗົ䝥䝻䝉䝇䛾ᨵၿ䛻䜘䜛➇தຊ䛾ᙉ໬ ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ * Excluding the UK distributor impact. 2018ᖺ䛻ྥ䛡䚸ሀㄪ䛺䝡䝆䝛䝇䝰䝯䞁䝍䝮䜢☜ㄆ 6R0LQWRSPDUNHWV ‡ *)%

  9. Slide 9: 2018年ガイダンス

    2018ᖺ䜺䜲䝎䞁䝇 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ 䝖䝑䝥䝷䜲䞁ᡂ㛗䜈䛾ᅇᖐ JXLGDQFH ,QGXVWU\ *)% -7, &RUH ‡ ⥲㟂せ䛾ῶᑡ䛿⥅⥆ YROXPH YROXPH YROXPH UHYHQXH ‡ ຊᙉ䛔ᩘ㔞ᡂ㛗䜢┠ᣦ䛩 ‡ 䠐䛴䛾*)%䛻ὀຊ a ‡ (PHUJLQJ PDUNHWV䛻䛚䛡䜛ᣢ⥆ⓗ䛺䝰䝯䞁䝍䝮 a a ‡ ㈙཰ຠᯝ䜒኱䛝䛟㈉⊩ ‡ 䝥䝷䜲䝅䞁䜾䛻䜘䜛ຊᙉ䛔&RUH UHYHQXHᡂ㛗 ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ

  10. Slide 10: JTI key drivers and business enablers

    ᣢ⥆ⓗᡂ㛗䜈䛾䝻䞊䝗䝬䝑䝥 -7,NH\GULYHUV %XVLQHVVHQDEOHUV ᭷ᮃ䛺ᕷሙ䜈䛾 ᢞ㈨䜢ඃඛ 5HGXFHG5LVN3URGXFWVศ㔝 䛻䛚䛔䛶㧗䜏䜢┠ᣦ䛩 ಶ䚻ே䛜㈐௵ឤ䜢ᣢ䛳䛶⾜ ື䛧䚸ㄝ᫂㈐௵䜢ᯝ䛯䛩⤌⧊ ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ ‫ق‬ऒभ५ছॖॻम૬ஜदघ‫ك‬ ‹&RS\ULJKW-7 Tokyo – February 7, 2018 -7,QYHVWRU0HHWLQJ

Japan Tobacco — FY2017 Earnings Presentation on 6ix