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Jump to full article: The Times of India, 2008-07-04
Author: G Ganapathy Subramaniam
Intro: JAPAN Tobacco, the third largest tobacco company in the world, has sought permission from the Foreign Investment Promotion Board (FIPB) to hike foreign equity in its Indian joint venture to infuse funds and revamp the loss-making business. Owned 66% by the government of Japan, the company’s portfolio includes major brands like Camel, Mild Seven, Winston, Gold Coast and Salem.
The Indian business of the Japanese major has accumulated losses of Rs 127.74 crore and the parent company now wants to bring the business to black through restructuring.
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