Flag pole alert - the series is back

Tuesday, 21 November 2017, 9:41 am

Shares in Imperial Brands are enjoying a little bounce today. The stock is up around 3pc because Japan Tobacco's new chief executive, Mitsuomi Koizumi, has said:

"If there is a good M&A opportunity, company will pursue regardless of size."

So, naturally speculators are putting 2 and 2 together and coming up with...well, I have pasted a note below from Exane BNP Paribas so you can see what the broker thinks.

IMPERIAL BRANDS: NEW APPOINTED JAPAN TOBACCO CEO comment will revive M&A hopes / Quick take

NEW CEO for JAPAN TOBACCO
Yesterday, the Japanese Press announced that Masamichi Terabatake will succeed to Mitsuomi Koizumi as new CEO

JT is confirming the new this morning. Mitsuomi Koizumi will step down. Masamichi Terabatake will be appointed as new CEO from January 1, 2018.

https://www.jt.com/media/news/2017/pdf/20171121_E01.pdf

WHO IS the NEW CEO ?

Masamichi Terabatake is currently deputy CEO and Executive VP, Business development &corporate strategy at JTI (appointed in Oct 2017).
Masamichi joined JT (Japan Tobacco) in 1989. After holding a series of management positions in its Manufacturing Division, he became Director of Corporate Planning in 1998. Following the acquisition of R.J. Reynolds International in 1999, Masamichi moved to Geneva as Senior Director of the JT/JTI Integration Project. In 2002, Masamichi returned to Japan as Vice President of the Tobacco Business Manufacturing Division and became Vice President of the Corporate Strategy Division of JT in 2008. He was promoted to Senior Vice President and Chief Strategy Officer of the JT Group with additional responsibility for its Food Business in 2012. In June 2013, he returned to Geneva upon his appointment as Deputy CEO and Executive Vice President of Emerging Products and Corporate Strategy at JTI. Masamichi holds a Bachelor’s Degree in Engineering from the University of Kyoto.

IN HIS FIRST SPEECH, M&A IS A FOCUS… “If there is a good M&A opportunity, company will pursue it regardless of size”..

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