TOKYO--(BUSINESS WIRE)--Japan Tobacco Inc. (JT) (TSE: 2914) announces that the JT Group completed the acquisition of Vector Group Ltd. (VGR) on October 7, 2024, following a tender offer, initially announced on August 21, 2024 (JT Group to Acquire Vector Group Ltd.).

东京--（商业新闻短讯）--日本烟草公司（JT）（东京证交所：2914）宣布，继2024年8月21日首次宣布收购要约（JT集团收购Vector Group Ltd.）后，JT集团于2024年10月7日完成了对Vector Group Ltd.（VGR）的收购。

The tender offer period, initiated on September 4, 2024, expired at one minute after 11:59 P.M., Eastern Daylight Time (EDT), on October 4, 2024. The conditions of the tender offer having been satisfied, the JT Group has accepted all such tendered shares, and, following a statutory merger on October 7, 2024, VGR became a wholly owned subsidiary of the JT Group and was delisted from the New York Stock Exchange on October 7, 2024..

2024年9月4日开始的要约收购期于2024年10月4日东部夏令时（EDT）下午11:59后一分钟到期。满足要约收购条件后，JT集团已接受所有此类投标股份，2024年10月7日法定合并后，VGR成为JT集团的全资子公司，并于2024年10月7日从纽约证券交易所退市。。

In line with JT Group’s tobacco business strategy, this acquisition is expected to improve the Company’s Return-On-Investment in combustibles by significantly increasing the Group’s presence and distribution network in the US, the second largest tobacco market in net sales and one of the most profitable..

根据JT集团的烟草业务战略，此次收购有望通过大幅增加该集团在美国的存在和分销网络，从而提高该公司在可燃物方面的投资回报率。美国是净销售额第二大的烟草市场，也是利润最高的烟草市场之一。。

1. Results of Tender Offer

1、投标报价结果

(1) Overview of Tender Offer

（1） 投标报价概述

①Tender offeror

① 投标报价人

Vapor Merger Sub Inc.

Vapor合并子公司。

②Target Company

② 目标公司

Vector Group Ltd.

Vector集团有限公司。

③Class of shares to be acquired

③ 拟收购股份类别

Common stock (on a fully diluted basis)

普通股（完全稀释）

④Tender offer price

④ 投标报价

US$ 15.00 per share

每股15.00美元

⑤Period of tender offer

⑤ 投标报价期限

September 4, 2024 to one minute after 11:59 P.M, EDT October 4, 2024

2024年9月4日至美国东部时间2024年10月4日下午11:59后一分钟

⑥Conditions of tender offer

⑥ 投标报价条件

The tender offer was subject to approval under U.S. and Serbian antitrust laws, the tender of more than 50% of VGR’s outstanding common stock, and satisfaction of other customary closing conditions. Any remaining shares of common stock of VGR that were not tendered in the tender offer were, upon the completion of the transaction, cancelled and converted into the right to receive the same consideration payable in the tender offer..

根据美国和塞尔维亚的反托拉斯法，收购要约须获得批准，收购VGR已发行普通股的50%以上，并满足其他惯例成交条件。未在要约收购中投标的VGR普通股的任何剩余股份在交易完成后被取消，并转换为获得要约收购中相同应付对价的权利。。

(2) Results of Tender Offer

（2） 投标报价结果

①　Status of application (as of at one minute after 11:59 P.M. EDT, on October 4, 2024)

① 申请状态（截至2024年10月4日美国东部夏令时下午11:59后一分钟）

Number of shares tendered: 108,097,425 shares (approximately 68.7%)

投标股份数量：108097425股（约68.7%）

②　Results of the Tender Offer

② 投标报价结果

The Offer was validly completed because the number of shares of VGR common stock validly tendered met and exceeded the minimum conditions set forth in 1.(1).⑥ above.

要约有效完成，因为有效投标的VGR普通股股数满足并超过了1（1）中规定的最低条件。⑥以上。

(3) Merger Procedures after the Tender Offer

（3） 要约收购后的合并程序

On October 7, 2024 EDT, VGR and the Offeror merged and VGR is the surviving entity. After the merger VGR became a wholly owned subsidiary of the JT Group. As a result, effective from October 7, 2024, the shares of VGR stock not tendered in the offer were cancelled and converted into the right to receive payment of $15.00 per share in cash, the same as the purchase price in the tender offer..

2024年10月7日，美国东部夏令时，VGR和要约人合并，VGR为存续实体。合并后，VGR成为JT集团的全资子公司。因此，自2024年10月7日起，未在要约中投标的VGR股票被取消，并转换为每股15.00美元现金的支付权，与要约中的购买价格相同。。

2. Change of Subsidiary

2、子公司变更

(1) Reason for change

（1） 变更原因

As a result of the Tender Offer, VGR became a consolidated subsidiary of the JT Group as of October 7, 2024 EDT.

由于要约收购，截至2024年10月7日，VGR成为JT集团的合并子公司。

(2) Overview of Subsidiary to be Transferred

（2） 拟转让子公司概况

① Name

① 姓名

Vector Group Ltd.

Vector集团有限公司。

② Address

② 地址

Miami, FL 33137 USA

美国佛罗里达州迈阿密33137

③ Representative

③ 代表

Howard M. Lorber (President and CEO)

Howard M.Lorber（总裁兼首席执行官）

④ Business description

④ 业务描述

Manufacturing and sales of cigarettes, etc.

香烟的制造和销售等。

⑤ Capitalization

⑤ 资本化

USD 15,598 Thousand (As of December 31, 2023)

1559.8万美元（截至2023年12月31日）

⑥ Year of foundation

⑥ 成立年份

1873

1873

⑦ Major shareholder and holding ratio (As of June 27, 2024)

⑦ 大股东及持股比例（截至2024年6月27日）

BlackRock, Inc. (13.61%)

贝莱德公司（13.61%）

The Vanguard Group, Inc. (11.35%)

先锋集团（11.35%）

Dr. Phillip Frost (9.38%)

菲利普·弗罗斯特博士（9.38%）

⑧ Relationship with JT

⑧ 与JT的关系

Capital

资本

None

无

Personnel

人员

None

无

Business

业务

None

无

⑨ Financial results audited (Note1)

⑨ 经审计的财务结果（注1）

Accounting period

会计期间

(Dollars in Thousands)

（千美元）

Fiscal year ended

财政年度结束

December 31, 2021

2021年12月31日

Fiscal year ended

财政年度结束

December 31, 2022

2022年12月31日

Fiscal year ended

财政年度结束

December 31, 2023

2023年12月31日

Net assets

净资产

(841,553)

(841,553)

(807,877)

(807,877)

(741,814)

(741,814)

Total assets

总资产

871,087

871,087

908,591

908,591

934,095

934,095

Net assets per share

每股净资产

(Dollar) (Note2)

（美元）（注2）

(5.47)

(5.47)

(5.22)

(5.22)

(4.76)

(4.76)

Net sales

净销售额

1,220,700

1,220,700

1,441,009

1,441,009

1,424,268

1,424,268

Operating profit

营业利润

320,439

320,439

339,010

339,010

328,035

328,035

Net income

净收入

219,463

219,463

158,701

158,701

183,526

183,526

Net income per share

每股净收入

(Dollar) (Note3)

（美元）（注3）

1.16

1.16

1.01

1.01

1.40

1.40

Dividend per share (Dollar)

每股股息（美元）

0.80

0.80

0.80

0.80

0.80

0.80

Note1: The results of operations and financial condition of the company are taken from the Form 10-K filed by VGR with the U.S. Securities and Exchange Commission (SEC).

注1：公司的经营成果和财务状况摘自VGR向美国证券交易委员会（SEC）提交的表格10-K。

Note2: Net assets per share is calculated by dividing net assets by the number of common shares outstanding at the end of each period.

注2：每股净资产的计算方法是将净资产除以每期期末已发行的普通股数量。

Note3: Diluted EPS is shown.

注3：显示稀释EPS。

3. Status of the number of shares and consideration for acquisition

3、股份数量及收购对价情况

① Number of shares held by JT Group (before acquisition)

① JT集团持有的股份数量（收购前）

None

无

② Number of shares to be acquired

② 拟收购股份数量

157,420,597 shares

157420597股

③ Acquisition price

③ 收购价格

The outstanding shares: USD 2.4 billion

流通股：24亿美元

(approximately 378 billion yen)

④ Number of shares to be held by JT Group (after acquisition)

④ JT集团持有的股份数量（收购后）

157,420,597 shares

157420597股

(Ratio of voting rights: 100%)

（表决权比例：100%）

Note 1: The acquisition price is converted at the rate of 158.229 yen per U.S. dollar (TTM rate mean in July, 2024).

注1：收购价格按158.229日元/美元的汇率换算（TTM汇率为2024年7月的平均值）。

4. Date of change of subsidiary

4、子公司变更日期

October 7, 2024 EDT

美国东部夏令时2024年10月7日

5. Impact on Financial Performance

5、对财务业绩的影响

The transaction is not expected to have any material impact on the Group’s consolidated performance for the fiscal year ending December 31, 2024.

该交易预计不会对截至2024年12月31日财年的集团综合业绩产生任何重大影响。

6. Notes

Forward-Looking Statements

前瞻性声明

This announcement may include statements that are not statements of historical fact, or “forward-looking statements,” including with respect to the JT Group’s acquisition of VGR. Such forward-looking statements include, but are not limited to, the JT Group’s beliefs and expectations and statements about the benefits sought to be achieved in the JT Group’s acquisition of VGR and the potential effects of the acquisition on both the JT Group and VGR.

本公告可能包括非历史事实声明或“前瞻性声明”，包括JT集团收购VGR的声明。此类前瞻性陈述包括但不限于JT集团的信念和期望，以及关于JT集团收购VGR所寻求获得的利益以及收购对JT集团和VGR的潜在影响的陈述。

These statements are based upon the current beliefs and expectations of the JT Group’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements..

这些声明基于JT集团管理层当前的信念和期望，并且存在重大风险和不确定性。如果基础假设不准确或风险或不确定性具体化，实际结果可能与前瞻性声明中规定的结果存在重大差异。。

Risks and uncertainties include, but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of COVID-19; the impact of tobacco industry regulation and tobacco legislation in the United States and internationally; competition from other products; and challenges inherent in new product development, including obtaining regulatory approval..

风险和不确定性包括但不限于一般行业条件和竞争；一般经济因素，包括利率和货币汇率波动；新型冠状病毒肺炎的影响；美国和国际上烟草行业法规和烟草立法的影响；来自其他产品的竞争；以及新产品开发中固有的挑战，包括获得监管部门的批准。。

JT Group undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Japan Tobacco Inc.’s integrated report for the year ended December 31, 2023, VGR’s Annual Report on Form 10-K for the year ended December 31, 2023 and VGR’s Quarterly Reports on Form 10-Q for the three months ended March 31, 2024 and June 30, 2024, in each case as amended by any subsequent filings made with the SEC.

JT集团有义务公开更新任何前瞻性声明，无论是由于新信息、未来事件还是其他原因，除非法律要求。可能导致结果与前瞻性声明中描述的结果产生重大差异的其他因素可以在日本烟草公司（Japan Tobacco Inc.）截至2023年12月31日的综合报告、VGR截至2023年12月31日的10-K表年度报告以及VGR截至2024年3月31日和2024年6月30日的三个月10-Q表季度报告中找到，在每种情况下都会通过向SEC提交的任何后续文件进行修订。

These and other filings made by VGR with the SEC are available at www.sec.gov..

VGR向SEC提交的这些文件和其他文件可在www.SEC.gov上查阅。。

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Japan Tobacco Inc. (JT) is a global company headquartered in Tokyo, Japan. It is listed on the primary section of the Tokyo Stock Exchange (ticker: 2914.T). JT Group has approximately 53,000 employees and 62 factories worldwide, operating in three business segments: tobacco, pharmaceutical, and processed food.

。它在东京证券交易所（Tokyo Stock Exchange）的一级交易所上市（股票代码：2914.T）。JT集团在全球拥有约53000名员工和62家工厂，经营三个业务部门：烟草、制药和加工食品。

Within the tobacco business, the largest segment, products are sold in over 130 markets and its flagship brands include Winston, Camel, MEVIUS, and LD. The Group is committed to investing in Reduced-Risk Products and markets its heated tobacco products under its Ploom brand..

烟草行业是最大的细分市场，其产品销往130多个市场，其旗舰品牌包括Winston、Camel、MEVIUS和LD。该集团致力于投资低风险产品，并以其Ploom品牌销售其加热烟草产品。。

Consumers, shareholders, employees, and society are the four stakeholder groups (4S) at the heart of all of JT Group's activities. Inspired by its “Fulfilling Moment, Enriching Life” purpose, the Group aims to ensure sustainable and valuable contributions to its stakeholders over the long term. In addition to our three business segments, this goal is also supported by D-LAB, the JT Group’s corporate R&D initiative, set up to search and create added-value business opportunities.

消费者、股东、员工和社会是JT集团所有活动的核心四个利益相关者群体（4S）。受其“充实时刻，丰富生活”宗旨的启发，该集团旨在确保长期为利益相关者做出可持续和有价值的贡献。除了我们的三个业务部门外，这一目标还得到了JT集团公司研发计划D-LAB的支持，该计划旨在寻找和创造附加值业务机会。

For more information, visit https://www.jt.com/..

For more information, visit https://www.jt.com/..