The interim manager called the tasks of working with JTI assets

The task of the temporary manager of Russian assets of the tobacco company Japan Tobacco International (JTI) is to ensure the stable operation of enterprises and the fulfillment of obligations to employees and partners. This is stated in the comments received by RBC by Anton Pivovarov, the general director of Industrial Assets JSC.

“On behalf of the interim manager, I will comment on the approach to work and the logic of priorities. Our task is to ensure the stable operation of enterprises in strict accordance with presidential decrees and current legislation. The focus is to preserve current production processes and teams, relying on the competence of enterprise specialists, to prevent failures in fulfilling obligations to employees and partners, said Pivovarov.

The CEO of Industrial Assets added that the work with JTI assets is based on current state benchmarks: the sustainability of technological and financial systems, as well as the ability to respond to challenges of different levels and scales. “Preserving the production potential of enterprises is not only an operational necessity, but also a contribution to the overall architecture of the country’s economic security,” Pivovarov added.

The decree on the transfer to the temporary management of the Russian production assets of the Japanese tobacco concern, Russian President Vladimir Putin signed on November 5, 2026. The next day, the main legal entity of the manufacturer J.T.I. Russia LLC was transferred under temporary management.

Information about the new manager of Russian assets JTI at the time of publication of the material has not yet been reflected in the Unified State Register of Legal Entities (EGRUL). The authority to act on behalf of J.T.I. Russia remained with Yevgeny Nikolsky, who headed it since 2022, and the rights to act on behalf of tobacco factories remained with the directors of each of the enterprises.

What is known about the interim manager

The company “Industrial assets”, the general director of which is Pivovarov, was registered on September 16, 2026. She specializes in asset management activities, follows from the USRLE. The founder of Industrial Assets is Sergey Dremov. He also owns 50% in OOO “Akatsia”, registered in Crimea and engaged in real estate management, as well as the boxing club “Leader” in Yevpatoria.

Anton Pivovarov’s professional experience is associated with “ensuring the strategic stability of business in conditions of high legal uncertainty.” It includes working in senior positions in the industry support structures up to the federal agency, where Anton Pivovarov served as acting deputy director and was a member of the department’s board. In these positions, he not only ensured the legal and managerial stability of large holdings, but also participated in the formation of methodological approaches to property management, procurement and legal risks, as well as in the examination of bills for the Ministry of Justice and the office of the Commissioner for the Protection of Entrepreneurs’ Rights under the President of the Russian Federation.

In 2016, Rossiyskaya Gazeta wrote that Anton Pivovarov served as acting deputy director of Spetsstroy of Russia. The Federal Agency for Special Construction, established in 2004, was subordinate to the Ministry of Defense and carried out the organization of works in the field of special and road construction in the interests of defense and security of the state. At the end of 2016, Spetsstroy was abolished by presidential decree, and its functions were transferred to the Ministry of Defense.

The building in which "Industrial Assets" are registered is a residential apartment building in the Moscow district of Chertanovo Central at the address: street. Dnipropetrovskaya, 3, 5, placed. 3/1.

Of the organizations on the first floor of the building, the correspondent of RBC found only the local branch of the United Russia party - they did not respond to a knock on the door. Two locals living in the house said it was the first time they had heard of Industrial Assets.

In the building adjacent to the house at a different address is the business center "Dnipro South". An employee of the center at the reception told RBC that the company "Industrial Assets" in the offices of the center does not work.

What's JTI

JTI is the largest supplier of tobacco products in Russia. It produces cigarettes under international brands Winston, Camel, LD, Sobranie, as well as domestic brands Russian Style and Play.

According to the research company N-Date Factory (formerly Nielsen), provided to RBC by one of the market participants, last year the shares of the four largest tobacco players in Russia in physical terms amounted to:

JTI - 41.84% Philip Morris Ijora - 25.64% BFT (formerly ITMS) - 15.65% International Tobacco - 10.49%

“Industrial assets” were managed by four JTI Russia plants: two factories for processing tobacco raw materials – J.T.I. Elets LLC in the Lipetsk region and Cres Neva LLC in the Leningrad region, as well as two finished products plants – Petro LLC in St. Petersburg and J.T.I. Donskoy Tabak LLC in Rostov-on-Don.

Initially, the measures affected only JTI production and did not affect its legal entities that are engaged in wholesale tobacco trade, namely, the main legal entity of the manufacturer LLC J.T.I. Russia and J.T.I. Innovative Products. But then the external control was extended to them: the decree on this was issued the next day.

JTI last disclosed the accounting statements of its Russian legal entities in 2023. Then the revenue of the main legal entity "J.T.I. Russia" amounted to 480 billion rubles, and net profit - 47 billion rubles. Its largest St. Petersburg factory "Petro" revenue for that year amounted to 73.2 billion rubles, "J. T. I. Donskoy tobacco" - 10.3 billion rubles, "Cres Neva" - 8.5 billion rubles, "J. T. I. Elets" - 1.3 billion rubles.

A source close to the tobacco market indicates that the Japanese concern has not withdrawn funds from Russia since 2022, so companies in the country have “a large amount of money in accounts.”.

After the introduction of temporary management, a representative of JTI Russia told RBC that the company is analyzing the situation and considering possible actions. RBC also sent a request to the international company JTI.

How to explain the measures

The basis for the appointment of JSC "Industrial Assets" temporary manager of Russian legal entities JTI is enshrined in regulations, "to comment on the motives of the state decision on behalf of the company is incorrect," its representative said.

This fall, the Russian authorities transferred a number of large assets of foreign companies to temporary management. In September, 100% of the shares of the Russian subsidiary Auchan and Lemana PRO, as well as Nestlé Russia and logistics company FM Logistic, passed under the management of L.E.V. Management. A little later, in the same month, the assets of the German network Metro Cash & Carry were transferred to the management of JSC “UK Trading RUS”.

Putin explained the reasons for the introduction of external management over foreign assets in October at the plenary session of the Valdai forum. According to him, Russia “does not take anything from anyone, does not steal or nationalize.” Allegations to the contrary are "lies and provocation," and in a prosperous scenario, foreigners will get their business back.

The President also recalled the actions of the West in relation to Russian assets abroad. “I want to emphasize this: grossly, violating all conceivable and unthinkable rules, we have taken huge enterprises from us. You see, Gazprom was taken away, Rosneft was taken away, other of ours. Look what is happening to LUKOIL, Putin said.

The Japanese news agency Kiodo, citing representatives of the Japanese Foreign Ministry, reported that the head of the European Department of the Japanese Foreign Ministry, Kimitake Nakamura, protested to Russian Ambassador Nikolai Nozdrev because of the transfer of JTI assets. Nozdrev denied these statements and said that the Japanese Foreign Ministry did not express any claims.