JAPAF - Japan Tobacco Inc. (JAPAF) Q4 2023 Earnings Call Transcript
2024-02-14 12:45:04 ET
Japan Tobacco Inc. (JAPAF)
Q4 2023 Earnings Conference Call
February 14, 2024 03:00 AM ET
Company Participants
Masamichi Terabatake - President & Chief Executive Officer
Eddy Pirard - President & Chief Executive Officer, JT International
Hiromasa Furukawa - Chief Financial Officer & Corporate Communications
Stefan Fitz - Executive Vice President, Chief Commercial Officer
Vassilis Vovos - Executive Vice President, Chief Financial Officer
Conference Call Participants
Hiroshi Saji - Mizuho Securities
Satoshi Fujiwara - Nomura Securities
Makoto Morita - Daiwa Securities Co. Ltd
Haruka Miyake - Morgan Stanley MUFG Securities
Naomi Takagi - SMBC Nikko Securities
Presentation
Unidentified Company Representative
Thank you for participating in the investor meeting for 2023 full year results at Japan Tobacco Inc. today.
Before we start the meeting, I'd like to ask you to make sure that your display name is accurate. Thank you very much for your cooperation. In today's meeting, first, Mr. Terabatake, Chief Executive Officer of the JT Group will introduce you business plan 2024; and Mr. Eddy Pirard, CEO of JT International will follow who explains Tobacco business 2023 results and 2024 outlook. Lastly, Mr. Furukawa, Chief Financial Officer of the JT Group will explain JT Group 2023 results and 2024 forecast. Then, we move on to Q&A session, and this meeting is scheduled to end at 6:30 p.m.
Now, I'd like to introduce you the first presenter Mr. Terabatake, please.
Masamichi Terabatake
Good afternoon, and welcome to Japan Tobacco's 2023 Full Year Earnings Call. I'm Masamichi Terabatake, President and CEO of Japan Tobacco. Thank you for taking the time to attend today's financial results briefing, and I am grateful for your continuing support and encouragement.
Before diving into the results, I would like to express my sincere sympathy to the victims of the human tragedies and devastations unfolding globally whether in Ukraine, Sudan near Eastern Japan. I want to assure you that, the JT Group continues to place the highest priority on the safety of our employees and their families and is extending all possible support to affected populations.
Today, I will begin with an overview of fiscal year 2023 followed by our mid- to long-term strategy, and the strategic role of each of our businesses. I will also share details about the profit growth outlook across business plan 2024, and I will provide an update on our sustainability programs JT Group Purpose and D-LAB.
Eddy Pirard, CEO of JTI will give an overview of the 2023 Tobacco business performance; and Hiromasa Furukawa, CFO of JT Group will explain our consolidated results for 2023 as well as the forecast for 2024.
Let me begin with an overview of fiscal year 2023. We recognize that 2023 was a challenging year with the global business environment remaining volatile due to geopolitical instability increased supply chain costs associated with inflation and large currency fluctuations.
Despite this environment, all our businesses not only exceeded the results of the previous year, but surpassed the initial guidance provided at the beginning of 2023, and reached an all-time high performance from revenue to net income.
In the Tobacco business 2023 marked the second year of the combined Tobacco business management structure. The results of this integration supported by an optimized allocation of resources and a stronger collaboration are now very visible as you will hear from Eddy....
Japan Tobacco Inc. (JAPAF) Q4 2023 Earnings Call Transcript