From our other sites
The story
Japan Tobacco (JT) shares hit the daily lower price limit for a second consecutive day, prompting the Tokyo Stock Exchange to widen the limit-down floor to ¥4,000. JT’s exposure to its Russian business is believed to be behind the plunge, amid mounting uncertainty as the West moves to freeze Russian assets. With the stock originally trading at ¥5,269, questions remain about how much further it could fall — and since JT has long been widely held by individual investors and pension funds alike as a high-dividend stock, the thread buzzed with debate over the price-limit mechanism itself, the actual share of revenue tied to the Russian business, and whether holders should stay the course.
JT Shares: Tokyo Stock Exchange Widens Limit-Down Floor to ¥4,000 After Second Straight Day at the Lower Limit | Reuters
Reuters Editorial
November 9, 2026, 6:37 PM
Source: reuters.com / Original article here
What people said
does that mean tomorrow it could swing anywhere from ¥1,269 to ¥9,269?
That's just the lower limit, right?
The upper limit's ¥4,000 too.
The upper limit is ¥1,000.
The upside is still capped at ¥1,000.
A lot of them probably held big positions chasing the dividend.
And since it's been locked limit-down, they never even got the chance to cut their losses.
Pension funds hold a massive amount of it too, so basically the whole country takes the hit.
Some countries overseas don't have one, and a single fat-finger order over there can cause absolute chaos.
Still, I doubt we can expect those big dividends going forward.
My guess is they'll manage to keep the dividend around ¥200.
Though I guess the Finance Ministry's thrilled getting its cut of tax twice either way.
What do you mean 'twice'?
Tobacco tax, sure, but corporate tax and capital-gains/dividend tax revenue should actually go down, no?
Who'd have thought a wildly popular high-dividend stock would fall this far.
s://i.imgur.com/cKCzADy.png
s://i.imgur.com/NL8N0L2.png
Meanwhile, spare a thought for Kioxia…
is this kind of intervention even okay?
The West has Russian assets frozen.
JT is basically being held hostage so those assets can't be liquidated.
The question is how much the US and Europe actually care about JT.
Plenty of people can shrug off one position going bad.
There have always been quite a few people who go all-in on JT alone, though.
Investing is about the total picture. I'm in that camp too — I originally bought in around ¥2,000, so sure, my unrealized gains have shrunk, but it's nowhere near fatal, let alone an actual loss. Even dropping to ¥4,000, that just takes me from a 3.5-bagger to a 2-bagger. After 20-plus years in stocks, I've seen this kind of thing plenty of times. I used to hold TEPCO and JAL too, so this is nothing compared to that.
Now even 'safe' JT shares…
Guess you really never know what can happen with stocks…
TEPCO somehow survived, but JAL actually went to zero at one point.
What are the people still buying even thinking?
The Russian business is like a fraction of a percent of revenue.
Having it or not barely makes a difference.
That's exactly why people trading stocks are idiots.
Trump: 'Facts.'
I had one share.
Wonder if I can get out at break-even.
This sucks.
Background and Key Points of This Topic
Price limits (the daily ‘limit-up’ and ‘limit-down’ bounds) cap how far a stock’s price can move from its reference value in a single day. When a stock like JT keeps getting sold down to its lower limit day after day, no trades can actually be matched, so the exchange widens the allowable range to let the price settle wherever the market will actually trade. Some posters in the thread were confused that the upper limit (¥1,000) and lower limit (¥4,000) ended up asymmetric, but that’s simply because this time it was only the downside that kept failing to find a price — and while a few comments framed it as ‘unilaterally changing the rules,’ this kind of adjustment isn’t unusual under the system. JT’s exposure to its Russian business, and the risk of getting caught up in asset freezes or sanctions, is seen as the main driver of the selling, though some posters pointed out that the Russian business accounts for only a tiny share of revenue — leaving the thread split on whether the scale of the drop actually matches the underlying reality. It’s also easy to overlook that JT shares are widely held by individual investors and pension funds for their dividends, meaning the impact extends well beyond short-term traders to long-term holders as well.
*This article is compiled from excerpts and a summary of the 5ch (News Flash+) thread “Tokyo Stock Exchange Widens JT’s Limit-Down Floor to ¥4,000 After Second Straight Day at the Lower Limit.”
Leave a Reply