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

Multiple E-Cigarette Companies Donate to Support Hong Kong Tai Po Fire Relief (List Updating)
Multiple E-Cigarette Companies Donate to Support Hong Kong Tai Po Fire Relief (List Updating)
Following the fire at Hong Kong’s Tai Po Kwong Fuk Estate, several e-cigarette companies—including SMOORE, Zhenwei Bio, and AiQiji—have announced donations to support relief and post-disaster recovery efforts.
Dec.01 by 2FIRSTS.ai
Multi-agency raids in Swansea: 9 vape shops ordered to suspend operations over illegal sales and counterfeit tobacco
Multi-agency raids in Swansea: 9 vape shops ordered to suspend operations over illegal sales and counterfeit tobacco
Three-day Swansea sweep by Trading Standards with police, HMRC and immigration: 14 shops inspected; 9 shut; 11 arrests; 5 vehicles seized; 2,292 vapes confiscated; two shops ordered closed for up to three months.
Oct.09 by 2FIRSTS.ai
Singapore single father jailed for running Telegram vape shop, making deliveries
Singapore single father jailed for running Telegram vape shop, making deliveries
Singaporean single father of three, Shaun Phua, was jailed and fined for operating a Telegram vape shop. The case sheds light on underground e-cigarette operations.
Dec.02 by 2FIRSTS.ai
Spanish Police Seize Over 24,000 Smuggled E-Cigarettes; Two Arrested on Multiple Charges
Spanish Police Seize Over 24,000 Smuggled E-Cigarettes; Two Arrested on Multiple Charges
The Spanish Civil Guard carried out an operation targeting e-cigarette smuggling and illegal distribution, seizing a total of 24,520 e-cigarettes of unknown origin valued at approximately €312,000.
Oct.10 by 2FIRSTS.ai
BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%
BAT Malaysia Reports Q3 Results: Net Profit Plummets 89.5%, Stock Price Drops 15%
BAT Malaysia's Q3 results show a sharp 89.5% drop in net profit to RM7 million (approximately $150,000 USD), with revenue also falling to RM300 million (approximately $6.4 million USD). The company attributed the decline to new regulatory requirements, including pictorial health warnings and the retail display ban. Its stock dropped 15.25% to RM4.78 (approximately $1.02 USD).
Oct.31 by 2FIRSTS.ai
Thai Police Seize 30,000 Illegal Vapes Worth Over US$270,000
Thai Police Seize 30,000 Illegal Vapes Worth Over US$270,000
According to Thai police, officers seized 30,000 illegal vapes worth over THB 10 million (US$270,000) and arrested two suspects linked to online sales via LINE account “VST Nuan Chan.” Raids were conducted in Bangkok and Samut Prakan, uncovering a main warehouse and residence. Both suspects confessed and face charges under the Product Safety Act and Customs Law for illegal import and sale.
Oct.30 by 2FIRSTS.ai