• Kyodo

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Japan Tobacco Inc. has tapped Masamichi Terabatake, an executive at a unit controlling the cigarette maker’s international operations, to succeed President Mitsuomi Koizumi, sources said Sunday.

The leadership change comes as Japan Tobacco, which holds about 60 percent of the domestic cigarette market, seeks to expand its global reach amid falling demand at home caused by a health boom and the growing popularity of heat-not-burn tobacco products.

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