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

Guernsey Rejects Petition to Overturn Under-18 Vape Shop Ban
Guernsey Rejects Petition to Overturn Under-18 Vape Shop Ban
A petition seeking to overturn a new ban on under-18s entering vape shops in Guernsey has been rejected. The Health and Social Care Committee said the measure meets its objective of protecting children from exposure to vaping products.
Mar.23 by 2FIRSTS.ai
Spain’s Nicotine Pouch Sales Reached 5 Million Cans in 2025, Industry Says 2026 Could Hit 8 Million
Spain’s Nicotine Pouch Sales Reached 5 Million Cans in 2025, Industry Says 2026 Could Hit 8 Million
Spain’s Nicotine Pouch Association said nicotine pouch sales in Spain reached 5 million cans of 20 units in 2025 and are expected to rise 60% to 8 million in 2026. The group said there are currently 20 to 30 brands on the Spanish market and called for regulation proportionate to product risk. It also opposed a proposal to reduce nicotine content to 0.99 mg per pouch, saying it would amount to a de facto ban on the category.
Mar.19 by 2FIRSTS.ai
PMI U.S. White Paper Calls for Greater Access to FDA-Authorized Smoke-Free Alternatives and Risk-Based Taxation
PMI U.S. White Paper Calls for Greater Access to FDA-Authorized Smoke-Free Alternatives and Risk-Based Taxation
PMI’s U.S. business released a white paper and cited a national online survey showing that 79.00% of Americans surveyed believe more should be done to reduce smoking-related harm. The paper calls on policymakers, public health authorities, and medical professionals to place cigarette smoking back at the center of public health priorities, and recommends broader access to FDA-authorized smoke-free alternatives, clearer nicotine risk communication, and risk-based taxation.
Apr.15 by 2FIRSTS.ai
Canadian Conservative MP’s Promotion of Zyn Draws Opposition From Local Nicotine Pouch Brand
Canadian Conservative MP’s Promotion of Zyn Draws Opposition From Local Nicotine Pouch Brand
Conservative MP Jamil Jivani’s public support for nicotine pouch brand Zyn has drawn attention on Canadian university campuses, but Imperial Tobacco, which makes the only similar Canadian product, Zonnic, said it does not support the promotion of an unauthorized competitor.
Mar.18 by 2FIRSTS.ai
Product | Labeled “Built in the USA” + 33mL Total E-Liquid, iJOY XP100K E-Cigarette Launched in the U.S.
Product | Labeled “Built in the USA” + 33mL Total E-Liquid, iJOY XP100K E-Cigarette Launched in the U.S.
iJOY Launches New IJOY XP100K E-Cigarette on Official Website. The product adopts a combined structure of “pod + power bank + refill e-liquid bottle,” comes pre-filled with 18mL of e-liquid and includes 15mL of refill liquid. It is officially claimed to deliver up to approximately 100,000 puffs, and its packaging bears the wording “BUILT IN THE USA.” It has already gone on sale through some online channels in the United States, with the kit priced at US$19.99.
Apr.08 by 2FIRSTS.ai
Smoore International Q1 Results: Enterprise-Focused Business Up 48.6% Year-on-Year, Proprietary E-Vapor Brand Business Up 14.3%
Smoore International Q1 Results: Enterprise-Focused Business Up 48.6% Year-on-Year, Proprietary E-Vapor Brand Business Up 14.3%
Smoore International reported its Q1 financial results, with revenue for the period reaching RMB3.856 billion, up 41.7% year-on-year, and net profit (profit for the period) totaling RMB262.5 million, up 36.6% year-on-year. Revenue from its enterprise-focused business was RMB3.2674 billion, representing a 48.6% increase from RMB2.1989 billion in the same period last year. Revenue from its proprietary brand business was RMB588.6 million, up 12.6% from RMB522.6 million a year earlier.
Apr.10 by 2FIRSTS.ai