Japan Tobacco shares untraded after all entities in Russia placed under temporary administration

On Monday, Japan Tobacco shares remained untraded due to an overflow of sell orders following Russia placing all of the company's local entities under temporary administration. This move, announced by Russian President Vladimir Putin, raised concerns about the profitability of one of Japan Tobacco's most lucrative overseas markets.

The company generates approximately a quarter of its adjusted group operating profit and around 10% of its revenue from Russia. Despite the uncertainty, Japan Tobacco's operations in Russia continue uninterrupted as per the company's statement. At the time of the report, the shares were untraded with the last bid at 5,469 yen. Earlier this week, the shares had plummeted by their daily limit of 1,500 yen, closing at 6,269 yen, marking a 19% decrease.

Russian authorities had previously added three more Japan Tobacco International businesses to the list of those under temporary administration, bringing the total to seven. The Japanese government holds a 37% stake in Japan Tobacco.