JT Q3 2024 earnings: net profit down 11.5% YoY to $900 million, heated tobacco revenue up 10% YoY

Oct.31.2024
JT Q3 2024 earnings: net profit down 11.5% YoY to $900 million, heated tobacco revenue up 10% YoY
JT's Q3 earnings report shows revenue up 7.7% year-on-year to 823.4 billion yen (approximately $5.4 billion), while net profit dropped 11.5% to 137.2 billion yen. Revenue from reduced-risk products (RRP) rose about 22.8% YoY, with Ploom sales showing significant growth in Japan and other markets.

Japan Tobacco (JT) released its third-quarter financial report on its official website on October 31. The report showed that the company's revenue for the third quarter increased by 7.7% year on year to 823.4 billion yen (US$54 billion), while net income decreased by 11.5% year on year to 137.2 billion yen (US$9 billion).

 

JT Q3 2024 earnings: net profit down 11.5% YoY to $900 million, heated tobacco revenue up 10% YoY
Financial report for the third quarter and first half of 2024 | Image source: JT

 

Key details from Japan Tobacco’s earnings report are as follows:

 

  • For the first three quarters of 2024, revenue rose 11.0% YoY to 2.3933 trillion yen ($15.7 billion), with core revenue up 6.8% YoY to 2.214 trillion yen ($14.5 billion).

 

  • In Q3 2024, Ploom sales grew by 28.1% in Japan, with over a twofold increase in other markets, driving RRP (reduced-risk products) revenue up 9.8% YoY. By the end of Q3, cumulative RRP sales rose by 22.8%, with related revenue up 21.7% YoY.

 

  • Ploom has continued to gain market share in key markets, including the Philippines, Russia, Spain, Taiwan, and Turkey.

 

  • The acquisition of Vector Group Ltd. has been completed, with Japan Tobacco (JT) aiming to strengthen its profitability in the U.S. combustible tobacco market, supporting long-term cash flow and financial stability.

CEO Masamichi Terabatake stated that JT will adhere to the “4S” management model, pursuing the JT Group Purpose of “Fulfilling Moments, Enriching Life” to guide the company’s sustainable path through evolving personal, social, and environmental contexts.

 

“Our market share momentum is strong, with overall demand in several markets surpassing expectations and RRP revenue up approximately 22% YoY,” Terabatake noted.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Michigan Proposes 57% Vape Tax in $800M Revenue Plan
Michigan Proposes 57% Vape Tax in $800M Revenue Plan
Michigan Governor Gretchen Whitmer’s FY2027 executive budget proposes a new 57% wholesale tax on vaping products and oral nicotine items as part of a broader $800 million revenue package aimed at stabilizing Medicaid funding.
Regulations
Feb.23
Syria announces comprehensive ban on e-cigarettes covering production, trade, sale and use
Syria announces comprehensive ban on e-cigarettes covering production, trade, sale and use
Syria Damascus health authorities announced a comprehensive ban on e-cigarettes, prohibiting their production, circulation, sale and use, citing health risks and the need to protect public health, particularly among children and young people.
Mar.02 by 2FIRSTS.ai
Imperial Brands Expands Blu Fruit-Flavour Offerings Following Consumer Preference Data
Imperial Brands Expands Blu Fruit-Flavour Offerings Following Consumer Preference Data
Imperial Brands has announced the launch of a new Sour Berry flavour for its Blu vape range. The product will launch across retail this month, with both the Blu bar kit and Blu pod pack carrying a recommended retail price of GBP 5.99 (approximately USD 7.79, based on 1 GBP ≈ 1.30 USD).
Apr.03 by 2FIRSTS.ai
JTI Korea Introduces Ploom AURA With Four Heating Modes and Four Device Colors
JTI Korea Introduces Ploom AURA With Four Heating Modes and Four Device Colors
JTI Korea announced that its next-generation heated tobacco device Ploom AURA will officially launch in South Korea on April 14. The company held a media event on March 31 at the Fairmont Ambassador Seoul Hotel to unveil the product in Korea for the first time.
Apr.01 by 2FIRSTS.ai
JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10
JT Launches Limited-Edition Ploom AURA “Fuchsia Flare” in Advance Sales Starting March 10
Japan Tobacco Inc. (JT) began advance sales on March 10 for the fifth limited-edition color of its heated tobacco device “Ploom AURA,” named “Fuchsia Flare.” The product is available through the CLUB JT online shop and Ploom Shops nationwide at a price of JPY 2,980. From March 17, it will also be sold in limited quantities at convenience stores nationwide and selected tobacco retailers.
Mar.10 by 2FIRSTS.ai
KT&G Launches “Miix Cigar Collection” for lil Hybrid at Convenience Stores Nationwide
KT&G Launches “Miix Cigar Collection” for lil Hybrid at Convenience Stores Nationwide
KT&G said on April 15 that it will launch “Miix Cigar Collection,” a dedicated stick for its lil Hybrid heated tobacco product, at convenience stores nationwide in South Korea. The company said the product is the first in the Miix series to apply a “Balance Filter” with internal space in the filter and contains 18% cigar leaf to deliver cigar flavor. With the new launch, the Miix lineup for lil Hybrid will expand to 16 products.
Apr.15 by 2FIRSTS.ai