Japan Tobacco Rises After Report on Cigarette Taxes
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Japan Tobacco Inc. rose the most in a year in Tokyo trading after the Mainichi newspaper reported the nation’s cigarette tax may be increased less than the amount sought by the Health Ministry.
The shares surged 9.7 percent, the most since October last year, to close at 282,200 on the Tokyo stock exchange. Before today, the stock had slumped 12 percent since the Democratic Party of Japan took office on Sept. 16 with a pledge to increase tobacco tax to discourage smoking.