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

 Breaking News | FDA Adds on! Plus Nicotine Pouches to PMTA-Authorized List
Breaking News | FDA Adds on! Plus Nicotine Pouches to PMTA-Authorized List
The U.S. Food and Drug Administration (FDA) has added ON! Plus nicotine pouch products to its list of authorized products, disclosing that the brand has received Marketing Granted Orders (MGO) through the Premarket Tobacco Product Application (PMTA) pathway. The update makes on! Plus the second nicotine pouch brand authorized via PMTA, following ZYN. As of publication, the FDA had not issued a separate press release on the decision.
News
Dec.20
Japan Tobacco expands Ploom EVO stick lineup, rolling out four new variants in Japan in two phases
Japan Tobacco expands Ploom EVO stick lineup, rolling out four new variants in Japan in two phases
Japan Tobacco (JT) is adding four new EVO variants for its Ploom heated tobacco range—Green Mint, Cacao Mint Crystal, Tropical Lime Crystal and Sakura Regular—set to launch in two waves on Jan. 22 and Feb. 3. The initial release will be via the CLUB JT online store and Ploom retail stores.
Jan.23 by 2FIRSTS.ai
BREAKING: China Brings Nicotine Pouches Under Tobacco Monopoly Regulation, Signaling Major Shift for Oral Products
BREAKING: China Brings Nicotine Pouches Under Tobacco Monopoly Regulation, Signaling Major Shift for Oral Products
China has for the first time issued clear regulatory rules for nicotine pouches and other oral nicotine products, formally classifying them under the tobacco monopoly alongside cigarettes and tobacco, ending a long-standing legal grey zone and laying the regulatory groundwork for their potential domestic launch.
Jan.09 by Alan Zhao | 2Firsts Perspectives
Russia's Perm Legislators Approve Full Ban on Vape Products in Regional Retail Market
Russia's Perm Legislators Approve Full Ban on Vape Products in Regional Retail Market
2Firsts, November 28, 2025 — The Legislative Assembly of Perm Krai has passed a law banning the retail sale of vape products and other nicotine-aerosol devices, effective March 1, 2026. Individuals found selling such items will face fines between ₽15,000–₽20,000 (about US $180–240), while companies face ₽50,000–₽100,000 (about US $600–1,200). The ban covers all electronic nicotine delivery systems (ENDS), heated-tobacco devices, and their components, regardless of nicotine content.
Nov.28 by 2FIRSTS.ai
2Firsts Observation | Element Vape Launches “Made in USA” Section as Product Pages Show “Assembled in USA” and “Made in USA” Labels
2Firsts Observation | Element Vape Launches “Made in USA” Section as Product Pages Show “Assembled in USA” and “Made in USA” Labels
Element Vape, a U.S. online vaping retailer, uses origin labels such as “Made in USA” and “Assembled in USA” across disposable vape product pages and a dedicated collection page, grouping items under “Made in USA Disposable Vapes,” but the platform does not disclose on its public pages the applicable standards or evidentiary basis for these different claims.
Jan.20 by 2FIRSTS.ai
Mexico to impose an absolute ban on the commercialization, import and sale of vapes from Jan. 16, 2026
Mexico to impose an absolute ban on the commercialization, import and sale of vapes from Jan. 16, 2026
Mexico will enforce an absolute ban on the commercialization, import and sale of vapes and e-cigarettes from January 16, 2026, under a reform published in the Official Journal of the Federation (DOF) amending the General Health Law.
Jan.16 by 2FIRSTS.ai