Glossary

Financial

Term Definition
Adjusted Operating Profit Adjusted Operating Profit = Operating profit + amortization cost of acquired intangibles arising from business acquisitions + adjustment items (income and costs).
*Adjustment items (income and costs) = impairment losses on goodwill ± restructuring income and costs ± others

International Tobacco Business

Term Definition
Clusters The international markets are divided into four distinctive clusters; South and West Europe, North and Central Europe, CIS+, and Rest-of-the-World. Please note that these four clusters are specifically designed to provide insight into our business for guidance purposes only and do not reflect JTI's management structure.
Core Revenue Revenue including waterpipe tobacco and emerging products, but excluding revenue from distribution, contract manufacturing and other peripheral businesses.
Core Revenue
per thousand cigarettes
Core revenue per thousand cigarettes is based on total shipment volume as defined below, excluding joint ventures, and core revenue as defined above, excluding waterpipe tobacco.
GFB GFB: Winston, Camel, Mild Seven/MEVIUS, LD, Benson & Hedges, Glamour, Sobranie, Silk Cut and Natural American Spirit
Share of value Share of total retail value of the market. Total retail value of the market is computed by multiplying volume and retail sales price.
Total shipment volume Including fine cut*, cigars, pipe tobacco and snus, but excluding contract manufactured products, waterpipe tobacco and emerging products.
*Roll Your Own (RYO) and Make Your Own (MYO) tobacco products

Japanese Domestic Tobacco Business

Term Definition
Core Revenue Excluding revenue from distribution of imported tobacco in the Japanese Domestic Tobacco Business, among others, but includeing revenue from domestic duty free, the China business and emerging products such as Ploom TECH device and capsules.
JT cigarette sales volume Not including sales volume from domestic duty free, the China business and emerging prodcuts.

Processed Food Business

Term Definition
Staple food products Frozen noodles, frozen and packed cooked rice and frozen baked bread.