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Some lounges, such as the Icare / Star Alliance Lounge and the Qatar Lounge , have private smoking terraces

Investment Points and Risks Points Although the domestic market is shrinking, growth can be expected overseas Strong appeal as a high-dividend stock Diversifying revenue sources through expansion into non-tobacco businesses Risks Pressure on the domestic business due to a decrease in smokers Deterioration of the sales environment due to stricter regulations and rising health consciousness Foreign exchange risk (due to a high ratio of overseas sales) 4

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