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

Product | LOST MARY, ELFBAR & VOZOL Debut 2 mL Replaceable-Pod Devices: Three-Model Comparison
Product | LOST MARY, ELFBAR & VOZOL Debut 2 mL Replaceable-Pod Devices: Three-Model Comparison
Several brands launch 2 mL replaceable-pod vapes—Lost Mary Glayce, ELFBAR ELFA “Stein,” VOZOL SLEEK—highlighting rechargeability, pod swaps, and a compliance- and sustainability-led trend.
Oct.27 by 2FIRSTS.ai
Product | AutoFresh Lock + Transparent Tank: SKE’s MEMERS VAPE Launches New Device
Product | AutoFresh Lock + Transparent Tank: SKE’s MEMERS VAPE Launches New Device
SKE-owned MEMERS has listed the disposable FRESA 40K on its website, featuring a transparent e-liquid chamber and a battery level display, with a claimed up to 40,000 puffs. The device uses Fresh Lock+ auto oil-lock to isolate e-liquid from the coil; brand materials cite two trigger timings—6 seconds after each puff or after 5 minutes of inactivity. It includes a 900mAh rechargeable battery, Type-C charging, and comes in 10 flavors.
Nov.05 by 2FIRSTS.ai
BAT Pauses U.S. Launch of Unlicensed Vuse One Vape amid FDA Crackdown — Reuters
BAT Pauses U.S. Launch of Unlicensed Vuse One Vape amid FDA Crackdown — Reuters
British American Tobacco has paused the U.S. pilot launch of its unlicensed Vuse One vape amid intensified FDA enforcement.
Oct.28 by 2FIRSTS.ai
Smoore: Profit Growth Gradually Improving, Fourth Quarter Shows Promise — A 2Firsts Reader Submission
Smoore: Profit Growth Gradually Improving, Fourth Quarter Shows Promise — A 2Firsts Reader Submission
Smoore released its financial results for the third quarter of 2025.A reader submitted to 2Firsts, noting that Smoore’s declining profit margin was mainly due to the substantial upfront investment in its new heated tobacco products, the relatively low margins of vaping devices, and price reductions resulting from product iterations in the European atomization market.as product structure adjustments near completion, the company’s profit growth is expected to further rebound in the fourth quart.
Oct.13
2025 China Shenzhen Top 500 Enterprises List: 13 E-cigarette Companies Include
2025 China Shenzhen Top 500 Enterprises List: 13 E-cigarette Companies Include
Shenzhen e-commerce companies dominate 2025 Top 500 list, including 13 e-cigarette businesses. Shenzhen FirstUnion Tech climbs 57 spots.
Oct.30 by 2FIRSTS.ai
Zyn Retailers to Pay $3M Settlement for Violating San Francisco’s Flavored Nicotine Ban
Zyn Retailers to Pay $3M Settlement for Violating San Francisco’s Flavored Nicotine Ban
San Francisco’s City Attorney’s Office has reached a $3 million settlement with three online tobacco retailers accused of illegally selling flavored Zyn nicotine pouches, violating the city’s 2017 ban on flavored tobacco products.
Oct.29