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

The UK government plans to expand the scope of its e-cigarette ban to include playgrounds, off-campus areas, and areas outside hospitals.
The UK government plans to expand the scope of its e-cigarette ban to include playgrounds, off-campus areas, and areas outside hospitals.
Government plans would ban vaping in cars carrying children and restrict smoking, vaping and heated tobacco in settings including playgrounds and outside schools across England, subject to a 12-week public consultation. The proposals also say indoor spaces where smoking is already banned would become vape- and heated-tobacco-free, and areas outside hospitals would be included.
Feb.13 by 2FIRSTS.ai
Michigan Senate Bill 786 Seeks to Ban Sale of Vapes With Metal Heating Elements
Michigan Senate Bill 786 Seeks to Ban Sale of Vapes With Metal Heating Elements
Michigan lawmakers introduced Senate Bill 786 on February 18, 2026, proposing to prohibit the sale or transfer of vapor products that contain heating elements unless those elements are made of or encased in glass or ceramic materials
Regulations
Feb.21
2Firsts Interview | Prague Move Puts Eastern Europe in Focus for Nicotine Industry Event EVO NXT
2Firsts Interview | Prague Move Puts Eastern Europe in Focus for Nicotine Industry Event EVO NXT
EVO NXT will move to Prague in April 2026. As an event’s official media partner for four consecutive years, 2Firsts recently interviewed the organisers, who said the relocation reflects strong growth in Eastern European markets for alternative nicotine products. They described EVO NXT as not a traditional trade fair but a business festival shaped by rapid changes in regulation, markets and technological innovation across the global nicotine industry.
Feb.03
Fiscal benefit, not health, strongest indicator for vape bans – Contributed by Samrat Chowdhery
Fiscal benefit, not health, strongest indicator for vape bans – Contributed by Samrat Chowdhery
Data shows 75% of nations with state stakes in tobacco trade ban modern substitutes compared to 10% in the free-market group. What is driving these divergent regulations?
Feb.04
Product | GEEKBAR Expands High-Puff Lineup; CLR 50K and Clio X Highlight Displays and Transparent E-Liquid Tanks
Product | GEEKBAR Expands High-Puff Lineup; CLR 50K and Clio X Highlight Displays and Transparent E-Liquid Tanks
GEEKBAR has added two new vaping products on its official website. Both feature transparent e-liquid tanks and are rated for up to 50,000 puffs. The CLR 50K is equipped with a 17 ml e-liquid capacity, is labeled at 5% nicotine (50 mg/ml), and offers Normal and Pulse modes, while the Clio X carries a 16 ml capacity, a dual-screen display, and three output modes.
Feb.28 by 2FIRSTS.ai
Report: 43% of 546 Canadian specialty vape shops found non-compliant in federal inspections
Report: 43% of 546 Canadian specialty vape shops found non-compliant in federal inspections
Health Canada’s vaping compliance and enforcement report covering inspections from April 2024 to March 2025 found 43% of 546 specialty vaping businesses were not compliant with the Tobacco and Vaping Products Act and the Canada Consumer Product Safety Act, according to the report cited. Health inspectors seized vaping products at 235 specialty vaping establishments.
Feb.26 by 2FIRSTS.ai