Japan Tobacco is mainly engaged in the manufacture and sale of tobacco products in the domestic and overseas markets. Along with its affiliates, Co. operates in four principal business segments: Japanese domestic tobacco, international tobacco, pharmaceutical, and processed food. Co. is engaged in the manufacture and sale of cigarettes in Japan and overseas; the research, development, manufacture and sale of ethical pharmaceuticals; and the manufacture and sale of frozen and ambient processed foods, bakery items and seasoning. In addition, Co. is involved in the leasing and management of real estate and the other businesses.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
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