Units of Japan Tobacco, Others Agree to Settle Canadian Litigation
Tokyo, March 3 (Jiji Press)--Canadian units of Japan Tobacco Inc., Philip Morris International Inc. and British American Tobacco PLC have agreed to pay 32.5 billion Canadian dollars to settle their litigation in Canada over health risks from tobacco products, Japan Tobacco said Monday.
For the settlement, Japan Tobacco plans to record nearly 400 billion yen in loss allowances as sales expenses. The three units will continue paying amounts calculated based on their earnings until the sum of their payments reach the agreed level. The proposed settlement is subject to court approval.
(2025/03/03-13:52)
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