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

UK, Jersey and Guernsey to Ban Disposable Vapes From Jan. 31 as Island Sell-Through Window Closes
UK, Jersey and Guernsey to Ban Disposable Vapes From Jan. 31 as Island Sell-Through Window Closes
Jersey and Guernsey will enforce a full ban on disposable vapes from Saturday, 31 January 2026, making it illegal for shops to sell them after close of business. Online purchases shipped into the islands will also be targeted, with Guernsey’s Director of Public Health Dr Nicola Brink saying Customs will conduct checks and can seize imported disposables. Refillable vapes are not covered by the ban.
Jan.29 by 2FIRSTS.ai
Russia proposes extending voluntary labeling pilot for reusable e-cigarettes to Aug. 31, 2026
Russia proposes extending voluntary labeling pilot for reusable e-cigarettes to Aug. 31, 2026
Russia’s Ministry of Industry and Trade has proposed extending a voluntary labeling pilot covering reusable e-cigarettes and similar personal electric vaporizing devices until August 31, 2026. A draft government decree has been published on the unified portal for posting drafts of normative legal acts.
Jan.22 by 2FIRSTS.ai
Russian State Duma Passes Ban on Tobacco and Vape Sales at Public Transport Stops
Russian State Duma Passes Ban on Tobacco and Vape Sales at Public Transport Stops
Russia’s State Duma has approved, in its third reading, a law banning the sale of cigarettes and electronic cigarettes at public transport stops. The measure expands existing restrictions on tobacco sales at transport infrastructure facilities and aims to reduce accessibility, particularly among young people. The law includes an exemption for small settlements where such kiosks are the only sales points and will take effect on September 1, 2026.
Dec.18 by 2FIRSTS.ai
NielsenIQ Data Shows UK Tobacco Market Decline of 12.7% with E-Cigarettes Dropping GBP 225 Million
NielsenIQ Data Shows UK Tobacco Market Decline of 12.7% with E-Cigarettes Dropping GBP 225 Million
According to NielsenIQ data published on December 7, 2025, overall tobacco and nicotine product sales in the UK dropped 12.7% in the 12 months ending September 6, representing more than £1 billion in lost sales.
Dec.15 by 2FIRSTS.ai
BAT Taps McLaren Title Win for Travel Retail Activation, Launches VELO “Champions’ Edition” Nicotine Pouches
BAT Taps McLaren Title Win for Travel Retail Activation, Launches VELO “Champions’ Edition” Nicotine Pouches
British American Tobacco (BAT) is leveraging McLaren F1 Team’s 2025 Constructors’ Championship win to roll out a VELO×McLaren brand activation across the travel retail market. The campaign spans major airports in Abu Dhabi, the UK, Ireland and Spain, alongside the launch of a VELO “Champions’ Edition” product.
Dec.15 by 2FIRSTS.ai
Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026
Reynolds American’s Grizzly expands NASCAR presence, to be primary sponsor for 27 Kaulig Racing Cup races in 2026
Grizzly Nicotine Pouches, a brand of American Snuff Company (ASC), a Reynolds American unit, said it will increase its NASCAR investment in the 2026 season, serving as primary sponsor for a combined 27 races across Kaulig Racing’s two full-time NASCAR Cup Series cars. The company added that Grizzly is already one of NASCAR’s official partner brands across all NASCAR tracks.
Jan.29 by 2FIRSTS.ai