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[Japan protests Russia's takeover of Japan Tobacco's assets, Japan Tobacco's stock price plunges 19%] (1) Japan has lodged a formal protest against Russia's takeover of Japan Tobacco's assets. Japanese Finance Minister Satsuki Katayama said on Friday that Japan lodged a protest through diplomatic channels and urgently demanded that Moscow rescind the move. (2) Katayama said that the Japanese government has consistently demanded that Russia ensure the legitimate interests of Japanese citizens and businesses are not harmed; Japan will continue to closely monitor the situation and work closely with relevant ministries, agencies and Japan Tobacco to make an appropriate response. (3) Russian President Vladimir Putin signed a decree on Thursday placing all four of Japan Tobacco's manufacturing operations in Russia under temporary state control. The Japanese government holds more than one-third of Japan Tobacco's shares, and the company has been operating in Russia through its international division since 1999. (4) Japan Tobacco owns brands such as Winston and Camel and is one of Russia's largest tobacco companies, with a market share of nearly 40%; Russia is its key market, contributing about a quarter of the group's profits. (5) Affected by sell orders overwhelming buy orders, Japan Tobacco's stock price fell 19% in the Tokyo market on Friday. Jefferies analysts said that being excluded from the Russian market would be tantamount to losing one of Japan Tobacco's largest businesses; while some Western companies received compensation for their assets seized in Russia, the compensation significantly underestimated the value of the relevant businesses. (6) A spokesperson for Japan Tobacco said that "temporary administration" does not constitute nationalization or expropriation, but did not comment further on its specific meaning; the company is continuing to gather information, consider available options and assess the potential impact, and said it has always conducted business in Russia in accordance with relevant regulations and sanctions. (7) This move comes at a time of tension between Moscow and Tokyo. The Kremlin has condemned Japan for supporting Ukraine, increasing military spending and deepening its relations with the West; last month, Russia also charged a Japanese journalist with espionage.