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

KT&G launches the LIL AIBLE 2.0 PLUS heated tobacco device, featuring fast charging and a new "REAL RIMO" cartridge
KT&G launches the LIL AIBLE 2.0 PLUS heated tobacco device, featuring fast charging and a new "REAL RIMO" cartridge
KT&G launches new heated tobacco device "LIL AIBLE 2.0 PLUS" with quick charge feature and 4 new colors.
Sep.28 by 2FIRSTS.ai
Singapore Government Rebuts Vape Advocacy Group Criticism, Says It Is Linked to Tobacco Companies
Singapore Government Rebuts Vape Advocacy Group Criticism, Says It Is Linked to Tobacco Companies
Singapore’s Home Affairs and Law Minister K. Shanmugam rejected claims from the Coalition of Asia Pacific Tobacco Harm Reduction Advocates (Caphra) that the country’s tough vaping ban is “fearmongering.” He stressed that such arguments mirror those used by drug legalization advocates and pointed out that the group is linked to the tobacco industry.
Sep.01 by 2FIRSTS.ai
Malaysian state of Selangor proposes sharing e-cigarette tax revenue with federal government for local enforcement agencies
Malaysian state of Selangor proposes sharing e-cigarette tax revenue with federal government for local enforcement agencies
Selangor, Malaysia proposes federal government share e-cigarette tax revenues for local enforcement, suggesting collaboration for better regulation.
Oct.13 by 2FIRSTS.ai
California Officially Approves “Unflavored Tobacco List” Regulation; Products Not Listed Will Be Banned from Sale
California Officially Approves “Unflavored Tobacco List” Regulation; Products Not Listed Will Be Banned from Sale
On August 25, the California Office of Administrative Law (OAL) approved the Department of Justice’s (DOJ) emergency regulation establishing the procedures for applying, maintaining, and enforcing the Unflavored Tobacco List (UTL). The regulation took effect immediately on August 25, 2025, and will remain valid until February 24, 2026. Products not included on the list will be prohibited from sale in the state.
Aug.28 by 2FIRSTS.ai
China Tobacco Hong Kong 2025 Interim Results: Revenue HKD 10.3 billion, up 18.5% year-on-year; New Tobacco Export Business Revenue HKD 14.6 million, down 66.5% year-on-year
China Tobacco Hong Kong 2025 Interim Results: Revenue HKD 10.3 billion, up 18.5% year-on-year; New Tobacco Export Business Revenue HKD 14.6 million, down 66.5% year-on-year
China Tobacco International (Hong Kong) recorded revenue of HKD 10.32 billion in the first half of 2025, up 18.5% year-on-year, with gross profit down 1.8%. Net profit attributable to shareholders was HKD 706 million, up 9.8% year-on-year. Revenue from the new tobacco export business was HKD 14.6 million, down 66.5% year-on-year.
Aug.22 by 2FIRSTS.ai
Observation | As China’s Nicotine Pouch Supply Chain Cools, Market Focus Accelerates Abroad
Observation | As China’s Nicotine Pouch Supply Chain Cools, Market Focus Accelerates Abroad
China’s nicotine pouch sector saw a sharp decline in exhibitors and traffic. Insiders cite tighter regulation and rising overseas competition, with many firms turning to Europe, the U.S., and the Middle East, and some building factories in Indonesia for growth.
Aug.28 by 2FIRSTS.ai