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

U.S. Customs Plan to Require Foreign Export Declarations Could Deal ‘Devastating’ Blow to China’s Vape Exports, Logistics gl Expert Says
U.S. Customs Plan to Require Foreign Export Declarations Could Deal ‘Devastating’ Blow to China’s Vape Exports, Logistics gl Expert Says
A U.S. Customs and Border Protection proposal to collect foreign export declarations and other overseas customs documents could expose discrepancies in the value, classification and description of China-made vape shipments entering the United States. A veteran Chinese logistics professional told 2Firsts that the measure, if implemented, could undermine the all-inclusive shipping model used by some unauthorized vape exporters and push parts of the trade toward costlier underground channels. The risk extends beyond higher duties: accurately declared products may also be more readily identified as unauthorized e-cigarettes subject to FDA enforcement.
Special Report
Sep.07
Trump Names Darrell Scott as CDC Tobacco Health Adviser, Citing Tobacco Risks and Harm-Reduction Solutions
Trump Names Darrell Scott as CDC Tobacco Health Adviser, Citing Tobacco Risks and Harm-Reduction Solutions
U.S. President Donald Trump has named Pastor Darrell Scott to serve as an adviser on tobacco health issues on the Centers for Disease Control and Prevention’s Advisory Committee to the Director. Trump said Scott would focus on the burden of tobacco-related disease and help examine ways to protect Americans from dangerous tobacco products while supporting solutions that reduce harm. Scott’s public career has largely centered on faith leadership, community advocacy and politics.
Sep.02
China Tobacco Plans CNY 60 Billion Investment in ICBC, Agricultural Bank as Strategic Ties Extend Beyond Equity
China Tobacco Plans CNY 60 Billion Investment in ICBC, Agricultural Bank as Strategic Ties Extend Beyond Equity
China National Tobacco Corporation and several subsidiaries plan to invest a combined CNY 60 billion ($8.7 billion) in share placements by Industrial and Commercial Bank of China and Agricultural Bank of China as strategic investors. The agreements extend beyond equity investment to corporate governance, banking services and supply-chain finance. The filings also disclose 2025 data on China Tobacco’s tax and profit contributions and industry scale.
Sep.07
Cochrane 2026 Update Adds Nine Trials, Keeps High-Certainty Finding That Nicotine E-Cigarettes Improve Quit Rates Over NRT
Cochrane 2026 Update Adds Nine Trials, Keeps High-Certainty Finding That Nicotine E-Cigarettes Improve Quit Rates Over NRT
Cochrane’s 2026 update of its living review on electronic cigarettes for smoking cessation included 80 randomized controlled trials involving 29,861 adult smokers, with nine trials added in this update. The review retained its high-certainty conclusion that nicotine e-cigarettes increase smoking cessation rates compared with nicotine replacement therapy. In absolute terms, about 10 in 100 people using nicotine e-cigarettes may quit smoking for at least six months, compared with about 6 in 100 using NRT. The review found no clear difference in serious adverse event rates between the two groups, while longer-term safety and the relative effectiveness of newer device types remain less certain.
Sep.07
Philippines Customs Seizes PHP11.68 Billion($200 Million) in Illegal Tobacco and Vapes in First Seven Months of 2026
Philippines Customs Seizes PHP11.68 Billion($200 Million) in Illegal Tobacco and Vapes in First Seven Months of 2026
Philippines Customs data showed that illegal cigarettes and vape products seized during the first seven months of 2026 were valued at about PHP11.68 billion, exceeding the PHP2.516 billion recorded for the full year of 2025. The figures were disclosed by a Bureau of Customs official during a House Committee on Ways and Means hearing on tobacco excise tax reforms. Vape-related seizures were valued at about PHP1.65 billion, with most cases recorded at the Manila International Container Port. Customs officials said enforcement against illicit tobacco trade would continue.
Aug.26
Product | Philip Morris Japan Launches Ginza-Exclusive IQOS ILUMA i PRIME, Limited to 1,814 Units at First Global Flagship
Product | Philip Morris Japan Launches Ginza-Exclusive IQOS ILUMA i PRIME, Limited to 1,814 Units at First Global Flagship
Philip Morris Japan (PMJ) launched the IQOS ILUMA i PRIME Ginza Limited Model Set in Tokyo on September 4, 2026, alongside the opening of IQOS Flagship Ginza, the brand’s first global flagship store. The Oasis Blue edition is limited to 1,814 individually numbered units, with the figure derived from the store’s address at Ginza 1-8-14. The set also includes two Yamanaka-nuri glasses and special packaging, priced at JPY 11,980 and sold exclusively at the Ginza flagship.
Sep.07