JAPAN
Japan Tobacco Inc. (JT) has announced that the group has completed the transfer of the shares of PT. Karyadibya Mahardhika (KDM), a kretek cigarette company, and its distributor, PT. Surya Mustika Nusantara (SMN).
The agreement to this acquisition was announced in the company’s August 4, 2017, statement. The transaction is expected to be fully completed in the fourth quarter of the fiscal year 2017 following remaining regulatory clearances.
The acquisition is in line with the JT’s geographic expansion for sustainable growth. It provides immediate scale and presence on a nationwide level in the Indonesian kretek market and offers a strong distribution platform. The transaction will not have any material impact on the JT’s consolidated performance for the fiscal year 2017.