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

Imperial Brands to Close Langenhagen Cigarette Factory by 2027
Imperial Brands to Close Langenhagen Cigarette Factory by 2027
Imperial Brands said it will gradually close the Reemtsma factory in Langenhagen near Hanover by 2027 after efforts to find a buyer failed to produce a sustainable agreement. The factory has produced cigarettes since 1971 and currently affects around 600 employees. The company said it had examined all realistic options over recent months but did not receive a binding offer from a potential buyer.
Mar.27 by 2FIRSTS.ai
Russian Lawmaker Says Bill on Full Vape Sales Ban Is Before State Duma
Russian Lawmaker Says Bill on Full Vape Sales Ban Is Before State Duma
Yaroslav Nilov, chair of the State Duma Committee on Labour, Social Policy and Veterans’ Affairs, said a bill proposing a full ban on vape sales is currently before the State Duma, though no final decision has yet been made. He said the initiative has been signed by representatives of almost all factions and noted that support for a full ban has also been voiced at the regional governor level. Nilov also said vape use in Russia is increasing while the age of consumers is declining.
Mar.12 by 2FIRSTS.ai
Product | Pixx Nicotine Toothpicks Listed on UK Retail Website, Said to Be Unaffected by Upcoming Vape Tax
Product | Pixx Nicotine Toothpicks Listed on UK Retail Website, Said to Be Unaffected by Upcoming Vape Tax
2Firsts has noted that a nicotine toothpick product named Pixx has appeared on a UK retailer website. The product page describes it as a smoke-free nicotine product, and the packaging image shows “UK MADE.” A nicotine-industry professional wrote on LinkedIn that the UK is set to introduce vape tax changes that may increase pressure on the retail side, and said Pixx is expected not to be included in the upcoming vape tax.
Mar.05 by 2FIRSTS.ai
Scandinavian Tobacco Group releases 2025 results: tariffs and weaker demand weigh on performance, revenue about $1.4 billion
Scandinavian Tobacco Group releases 2025 results: tariffs and weaker demand weigh on performance, revenue about $1.4 billion
Scandinavian Tobacco Group (STG) reported its 2025 results: revenue was 9.036 billion Danish kroner (about $1.407 billion); EBITDA before special items was 1.791 billion Danish kroner (about $278 million); and free cash flow before acquisitions was 595 million Danish kroner (about $92.7 million). Multiple metrics declined year over year, and the company did not meet its Q3-updated guidance for revenue and free cash flow.
Mar.05 by 2FIRSTS.ai
PMI U.S. to Host Job Fair for ZYN Nicotine Pouch Factory in Colorado
PMI U.S. to Host Job Fair for ZYN Nicotine Pouch Factory in Colorado
PMI U.S. plans to host a job fair to recruit employees for its ZYN nicotine pouch manufacturing facility currently under construction in Aurora, Colorado. The main position being recruited is Process Technician, responsible for equipment operation and maintenance, quality and safety monitoring, and supporting continuous production improvements.
Mar.12 by 2FIRSTS.ai
South Dakota Senate Committee Advances Bill Tightening Nicotine Retail Rules
South Dakota Senate Committee Advances Bill Tightening Nicotine Retail Rules
South Dakota Senate Bill 221 (SB 221), which seeks to regulate the retail sale of nicotine products, has passed the Senate Health and Human Services Committee with a unanimous 7–0 recommendation. The bill was significantly amended, expanding from three to nine pages and shifting its focus from vapor products alone to all nicotine products.
Regulations
Feb.22