Japan Tobacco Releases Q3 2023 Report, Shows Significant Growth

Oct.31.2023
Japan Tobacco Releases Q3 2023 Report, Shows Significant Growth
Japan Tobacco reported a 7.4% YoY increase in total revenue for Q3 2023, reaching ¥2,157 billion, with a net profit of ¥442 billion.

Japan Tobacco, a leading tobacco company in Japan, released its report on October 31st, revealing a 7.4% year-on-year increase in total revenue for the third quarter of 2023, amounting to 2.157 trillion Japanese yen. Additionally, the company witnessed a 9.5% growth in net profit during the same period, reaching 442 billion Japanese yen.


Masamichi Terabatake, President and CEO of Japan Tobacco, has stated that despite intense market competition, the company's tobacco business continues to experience substantial growth, driven by a stable increase in market share and strong pricing.


Japan Tobacco has announced upward revisions to its projected revenue, core revenue, and adjusted operating profit. It is expected that the company will experience even greater growth in the coming year. The company plans to distribute a dividend of 188 yen per share, a disclosure made during the initial forecast.


Teruhata Terasuhata openly admitted that the company is ramping up its investment in heated tobacco products as part of its strategy to establish a foundation for future growth. Despite facing fierce competition in the market, their product, Ploom X, has already captured over 10% of the heated tobacco market in Japan and has been steadily increasing its market share from July to September 2023.


Terahata Masamichi stated that in response to the continuous depreciation of the yen, the company has conducted more proactive financial forecasting and adjustments, including revised operating profits. While adhering to the company's dividend policy, the annual dividend per share will remain unchanged at 188 yen.


He emphasized that, given the issue of hyperinflation in some markets, adjustments have been made to the results of the fiscal years 2022 and 2023, as well as the forecast for fiscal year 2023. He predicts that these hyperinflation issues will have an impact in countries such as Ethiopia, Iran, Sudan, and Turkey by the third quarter of 2023.


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

2Firsts Data | China’s U.S. Vape Exports Have Yet to Regain Previous Growth Momentum in H1 2026, but Hardware Grew 15.2% and 6-Methyl Nicotine-Related Products Rose 234.7%
2Firsts Data | China’s U.S. Vape Exports Have Yet to Regain Previous Growth Momentum in H1 2026, but Hardware Grew 15.2% and 6-Methyl Nicotine-Related Products Rose 234.7%
China’s vape exports to the U.S. reached approximately $1.58 billion in the first half of 2026, remaining broadly stable from a year earlier but still below previous growth momentum. 2Firsts’ analysis of China Customs data shows that the U.S. market has not simply returned to its previous trajectory after the enforcement shock and inventory-driven swings of 2025. Instead, export momentum is shifting across product categories. Vaping devices and atomization hardware increased 15.2% year over year, while 6-methyl nicotine-related and other nicotine substitute products surged 234.7%. Meanwhile, traditional nicotine-containing vaping products continued to face pressure.
Jul.22
2Firsts Exclusive Analysis | RLX Q2 Revenue Rises 14.8%, Company Takes Control of Western European Distributor and Expands Multi-Category Strategy
2Firsts Exclusive Analysis | RLX Q2 Revenue Rises 14.8%, Company Takes Control of Western European Distributor and Expands Multi-Category Strategy
business accounting for 68.5% of sales. A new controlling investment in a Western European distributor and plans to scale modern oral nicotine pouches point to a broader international strategy spanning channels and multiple product categories.
Special Report
Aug.14
China Tobacco Zhejiang files patent for pressure-triggered, on-demand oral nicotine release
China Tobacco Zhejiang files patent for pressure-triggered, on-demand oral nicotine release
China Tobacco Zhejiang Industrial Co., Ltd. has filed a patent application for an oral nicotine delivery product designed to let users actively adjust nicotine release. The product embeds two types of nicotine reservoirs with different wall thicknesses and positions inside a deformable matrix. Pressure applied with the tongue or lips can rupture the reservoirs and accelerate nicotine release. In simulated oral tests, several patent examples showed sharply higher peak nicotine release rates as applied force increased from 0 N to 1 N and 3 N. The filing explores a shift from preset release profiles toward user-triggered nicotine delivery.
Sep.01
Product | PMI Pilots bonds by IQOS and blends in Japan, Testing a New Heated Tobacco Platform
Product | PMI Pilots bonds by IQOS and blends in Japan, Testing a New Heated Tobacco Platform
Philip Morris International (PMI) has launched a regional pilot of bonds by IQOS and dedicated blends tobacco sticks in Japan, introducing a new heated tobacco platform separate from the IQOS ILUMA ecosystem. The system uses Round Heat Technology with an external heating architecture, differentiating it from IQOS ILUMA’s induction-based platform. The pilot began on July 6, 2026, across three Japanese prefectures: Fukuoka, Saga and Nagasaki.
Jul.30
Special Report | Russia, Ukraine and Belarus Launch Fresh Push to Rein in Vaping
Special Report | Russia, Ukraine and Belarus Launch Fresh Push to Rein in Vaping
Russia, Ukraine and Belarus are tightening vape regulation through different tools, from Ukraine’s stronger enforcement push and Belarus’s proposed advertising restrictions to Russia’s new GOST standard and regional sales-ban mechanism. As black-market concerns persist, some Russian experts argue that China’s tightly controlled but legalised model — built around licensing, traceability and taxation — may offer a more effective alternative to blanket prohibition.
Jul.15
IQOS Global Flagship Space to Open in Tokyo Ginza as PMI Expands Consumer Experience Strategy
IQOS Global Flagship Space to Open in Tokyo Ginza as PMI Expands Consumer Experience Strategy
Philip Morris Japan (PMJ) announced that it will open “IQOS Flagship Ginza” in Tokyo on September 4, 2026. The location will become the first global flagship space for PMI’s IQOS brand. PMJ said the venue will target adult smokers aged 20 and above and combine product experiences, community engagement and local cultural elements. The design will incorporate Japanese natural aesthetics and traditional craftsmanship. The launch reflects PMI’s broader strategy of strengthening consumer engagement through experiential retail and brand spaces. The existing IQOS Store Ginza is scheduled to close on August 30, 2026.
Jul.21