Japan Tobacco 2024 Earnings: revenue up 10.9% to break $20.5 billion, attributable profit down slightly 3.9%

Feb.21.2025

Japan Tobacco Inc. (JTI) reported a 10.9% increase in 2024 sales revenue, totaling ¥3.15 trillion, with a slight profit decline.

On February 13th, Japan Tobacco Inc. (JTI) released its financial report for the year 2024. The report showed that sales revenue for 2024 reached 3.15 trillion Japanese yen (approximately 20.5 billion US dollars), representing a year-on-year increase of 10.9%. Operating profit was 697.2 billion yen (approximately 4.5 billion US dollars), a year-on-year increase of 3.7%, while net profit attributable to the company's owners was 463.4 billion yen (approximately 3 billion US dollars), a year-on-year decrease of 3.9%.

A report shows that Japan Tobacco is gradually expanding its diversified business layout, with tobacco remaining the core revenue driver contributing a revenue of 2.78 trillion yen (approximately $18 billion). The growth mainly comes from the Asian, European, and Middle East/Africa (EMA) markets, indicating that Japan Tobacco continues to maintain competitiveness in the global tobacco market.

The sales of the pharmaceutical business slightly declined to 94.4 billion yen (approximately 0.62 billion US dollars). The report attributed this decrease primarily to intensified market competition. On the other hand, the food business showed growth momentum, with sales reaching 157.2 billion yen (approximately 1 billion US dollars), contributing to the diversification of the group's revenue.

Japan Tobacco Inc. has forecasted its performance for the year 2025, expecting sales revenue to continue growing by 3.9% to reach 3.27 trillion yen (approximately 21.2 billion US dollars). Adjusted operating profit is projected to decrease by 2.2% to 735 billion yen (about 4.8 billion US dollars). Net profit attributable to owners of the parent company is expected to drop by 2.9% to 450 billion yen (around 3 billion US dollars).

References:

[1] 2024年12月期決算短信〔ＩＦＲＳ〕（連結）

Also Read:

[1] Irina Lee Appointed as JTI Korea CEO in 2025

[2] JT to Invest $2.9B in Reduced-Risk Tobacco Products, Eyes Profit by 2028

[3] Japan Tobacco launches 'With 2 Special Edition' HTP device, priced from $26

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