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

Philippine Customs Seizes Illegal Vape Products Worth Up to PHP 1.4 Billion in Navotas Warehouse
Philippine Customs Seizes Illegal Vape Products Worth Up to PHP 1.4 Billion in Navotas Warehouse
The Philippine Bureau of Customs seized illegal vape products worth an estimated PHP 1 billion to PHP 1.4 billion at a warehouse in Navotas City. Customs Commissioner Ariel Nepomuceno said the operation was the agency’s largest crackdown on illegal vape products since 2024.
Mar.23 by 2FIRSTS.ai
UK Opens Applications for Vaping Products Duty and Duty Stamps Scheme From April 1
UK Opens Applications for Vaping Products Duty and Duty Stamps Scheme From April 1
HM Revenue and Customs announced that from April 1, 2026, UK vaping product manufacturers, importers and warehousekeepers can apply for approval under Vaping Products Duty (VPD) and the Vaping Duty Stamps Scheme (VDS). Under new GOV.UK guidance, Vaping Products Duty will take effect on October 1, 2026 and will apply to all vaping liquids, whether they contain nicotine or not.
Apr.02 by 2FIRSTS.ai
Brazil’s Teen E-Cigarette Experimentation Rate Rises to 29.6% Over Five Years
Brazil’s Teen E-Cigarette Experimentation Rate Rises to 29.6% Over Five Years
Brazil’s National School Health Survey (PeNSE) 2024 found that e-cigarette experimentation among students aged 13 to 17 rose from 16.8% in 2019 to 29.6% in 2024, while use in the previous 30 days increased from 8.6% to 26.3%. Over the same period, conventional cigarette experimentation fell from 22.6% to 18.5%, and hookah use declined from 26.9% to 16.4%.
Mar.26 by 2FIRSTS.ai
From myblu to Zone: Imperial Brands Refocuses NGP Strategy in HY26
From myblu to Zone: Imperial Brands Refocuses NGP Strategy in HY26
mperial Brands’ HY26 results point to a more selective NGP transition. The company is using cash flow from traditional tobacco to fund targeted investments in modern oral nicotine, heated tobacco and reusable vaping systems. Its decision to exit the legacy myblu vaping business in the U.S., while expanding Zone nicotine pouches. In Europe, Imperial’s NGP growth is being driven by a multi-category portfolio including blu, Pulze and Zone/Skruf.
Special Report
May.12
UK Tobacco and Vapes Bill Receives Royal Assent, Banning Tobacco Sales to People Born After 2008
UK Tobacco and Vapes Bill Receives Royal Assent, Banning Tobacco Sales to People Born After 2008
The UK government announced on April 29 that the Tobacco and Vapes Bill had received Royal Assent and become law. Under the new law, it is illegal to sell tobacco to anyone born on or after Jan. 1, 2009. The government said the law creates the UK’s first “smoke-free generation” and includes measures to ban the advertising and sponsorship of vapes and nicotine products, as well as powers to restrict packaging, branding and displays designed to appeal to children.
Apr.30 by 2FIRSTS.ai
Indonesia to Step Up Vape Surveillance as Concerns Rise Over Drug-Laced E-Cigarettes
Indonesia to Step Up Vape Surveillance as Concerns Rise Over Drug-Laced E-Cigarettes
Indonesia will strengthen surveillance of vapes amid growing concerns over drug-laced e-cigarettes. The National Food and Drug Monitoring Agency, or BPOM, will soon take charge of monitoring nationwide vape distribution and said it will work with the National Narcotics Agency, or BNN. BNN recently floated a plan to completely ban e-cigarettes, saying a total ban was the only way to prevent liquid narcotics.
May.11 by 2FIRSTS.ai