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

Altria’s on!PLUS Nicotine Pouches Reportedly Available in U.S.; Users Say They Have Received Orders
Altria’s on!PLUS Nicotine Pouches Reportedly Available in U.S.; Users Say They Have Received Orders
Social media users reported purchasing Altria’s new nicotine pouch, on!PLUS, in the United States. 2Firsts found that the official on! website had temporarily opened online purchase and store locator functions. The product has not received FDA authorization. Around the same time, British American Tobacco (BAT) suspended its unlicensed Vuse One vape launch in the U.S. amid regulatory pressure.
Oct.28 by 2FIRSTS.ai
WHO's First Global E-Cigarette Data: Over 100 Million Users, Youth Risk 9 Times Higher
WHO's First Global E-Cigarette Data: Over 100 Million Users, Youth Risk 9 Times Higher
The WHO's first global estimate on October 6 showed over 100 million people use e-cigarettes, including at least 15 million adolescents (aged 13–15). The report warned that in reporting countries, children are nine times more likely to vape than adults.
Oct.07 by 2FIRSTS.ai
Philip Morris International and Swedish Match Win Collective Lawsuit Over Zyn Nicotine Pouches
Philip Morris International and Swedish Match Win Collective Lawsuit Over Zyn Nicotine Pouches
In a recent victory, Philip Morris International and Swedish Match won a lawsuit concerning their product Zyn's pricing.
Sep.25 by 2FIRSTS.ai
Joint law enforcement in Johor Bahru, Malaysia, seized 1,997 e-cigarette products and investigated eight violations
Joint law enforcement in Johor Bahru, Malaysia, seized 1,997 e-cigarette products and investigated eight violations
On September 27, the Johor State Health Department (JKNJ) and the Johor Bahru City Hall (MBJB) conducted a joint enforcement operation at a shopping mall in Johor Bahru, seizing 1,997 e-cigarette products. Ling Tianshun, Chairman of the Johor State Health and Environment Committee, reiterated that Johor has officially banned e-cigarettes since 2016 and will not issue sales licenses. He also warned businesses not to sell e-cigarettes.
Sep.29 by 2FIRSTS.ai
Two e-cigarette shops in Franklin, USA under investigation for selling THC products to minors, seized 150 pounds of raw materials and cash
Two e-cigarette shops in Franklin, USA under investigation for selling THC products to minors, seized 150 pounds of raw materials and cash
Two e-cigarette shops in Franklin, USA, under investigation for selling THC products and illegal cash transactions to minors.
Sep.28 by 2FIRSTS.ai
Research Report: E-Cigarette Device Market to Hit $34.29 Billion by 2031; Top Brands Now Hold Nearly Half the Share
Research Report: E-Cigarette Device Market to Hit $34.29 Billion by 2031; Top Brands Now Hold Nearly Half the Share
Market research firm LP Information has released a global e-cigarette market report forecasting that the e-cigarette device market—including both disposable and reusable devices—will reach US$34.29 billion by 2031, with a 9.4% CAGR from 2025 to 2031.
Oct.16