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

Australia Plans Tougher Penalties for Illicit Tobacco and Vape Crime
Australia Plans Tougher Penalties for Illicit Tobacco and Vape Crime
The Australian government is preparing a new crackdown on the illicit tobacco market, including stronger penalties, expanded police surveillance powers and tougher asset seizure measures.
Mar.19 by 2FIRSTS.ai
Belarus Official Says Full Vape Ban Is Not Advisable Due to Supply Risks From Russia
Belarus Official Says Full Vape Ban Is Not Advisable Due to Supply Risks From Russia
A Belarusian Interior Ministry official said on March 18 at a press conference on preventing dependence on electronic smoking systems that a full ban on vapes is not appropriate in Belarus at this stage.
Mar.19 by 2FIRSTS.ai
BAT AGM Highlights Smokeless Strategy, AI Capability and Regulatory Engagement
BAT AGM Highlights Smokeless Strategy, AI Capability and Regulatory Engagement
BAT Chair Luc Jobin told shareholders at the company’s 2026 Annual General Meeting that BAT delivered on its plans in 2025 despite a challenging external environment, with the U.S. business returning to growth, smokeless consumers increasing by more than 15%, improved New Categories contribution, and GBP 6.3 billion returned to shareholders.
Apr.16 by 2FIRSTS.ai
China Tobacco Jiangsu Industrial Patent Points to 3D-Printed Nicotine Oral Products
China Tobacco Jiangsu Industrial Patent Points to 3D-Printed Nicotine Oral Products
Jiangsu China Tobacco Industrial Co., Ltd. has disclosed a patent describing a nicotine oral formulation produced using 3D printing technology. The invention enables a three-stage nicotine release system—rapid onset, sustained delivery and long-term release—through a layered structure with varying porosity. The technology reflects growing experimentation within China Tobacco’s research system around precision nicotine delivery for modern oral products.
Mar.09
Kazakhstan: Over 131,000 vapes seized in Almaty and Pavlodar case; about $1.422 million cited
Kazakhstan: Over 131,000 vapes seized in Almaty and Pavlodar case; about $1.422 million cited
Kazakhstan’s financial monitoring authorities said a group is suspected of illicitly distributing vaping devices in Almaty and Pavlodar Region, using Telegram as a sales channel with courier delivery. During searches, investigators seized more than 131,000 vapes valued at 711 million tenge (about $1.422 million, using 1 tenge = $0.0020).
Mar.04 by 2FIRSTS.ai
UK Bill Banning Tobacco Sales to People Born After 2008 Clears Parliament
UK Bill Banning Tobacco Sales to People Born After 2008 Clears Parliament
A UK bill banning the legal sale of tobacco to people born on or after January 1, 2009 has completed its passage through parliament. Under the bill, those born in that group will never be able to be legally sold tobacco anywhere in the UK. The legislation is expected to receive royal assent next week. It also gives ministers powers to strengthen public-place smoking restrictions and restricts branding, promotion and advertising of vape and nicotine products aimed at children.
Apr.22 by 2FIRSTS.ai