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British American Tobacco withdraws planned tobacco price hikes 

In an unusual move, British American Tobacco Japan Ltd. said Monday it has withdrawn its application filed with the Finance Ministry last month to raise the prices of its cigarette brands.

The third-largest seller of tobacco in Japan withdrew the application following recent calls by the government for smoking bans in public places which, if implemented, could cause demand for tobacco to plunge. . . .

In announcing the withdrawal of its application, the company said it needed to watch trends in the tobacco market for the time being.

Earlier this month, the Finance Ministry approved an application filed by Philip Morris (NYSE:MO) Japan KK, the second-largest seller of tobacco in Japan, to raise prices of its cigarette brands

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