About his intention to sell his share in a well-known tobacco company Japan Tobacco the Japanese government said. It was decided to take such measures in order to obtain additional funds, so necessary for the restoration of the country after recent disasters.
The government owns 50.1% shares of the company. Selling them can bring a really good amount of 24 billion US dollars. However, even this money will not be enough. Indeed, according to the most conservative estimates, more than 150 billion dollars are required for a full recovery.
The need for such large sums forced the government to take such unpopular measures as raising taxes as well. Tobacco excises, corporate tax, income tax and some others will be increased. It was announced that these measures are temporary. The tax increase will take place in the first half of next year.