Tobacco Company "Riyan" has reported that its revenue for the first nine months of 2022 was 2 trillion Japanese yen ($13.5 billion USD), which represents a year-over-year growth of 13.7% compared to 2021.
The core income, calculated at fixed exchange rates, grew by 4.1% to reach 1.77 trillion yen. Operating profit adjusted for fixed exchange rates increased by 6.5% to reach 78.4 billion yen. Annual report data showed that adjusted operating profit increased by 17.5% to reach 6.378 trillion yen. Operating profit increased by 20.5% to reach 5.793 trillion yen, while profit rose by 19.2% to reach 4.038 trillion yen.
In a statement, President and CEO of Japan Tobacco Group, Masamichi Terabatake, stated that the company has demonstrated strong performance over nine months, primarily driven by stable pricing in its tobacco business. He also expressed encouragement towards the sales of Ploom X and its performance on the stock market in Japan. The company has launched Ploom X in London, and plans to accelerate its international release from 2023.
Terabatake expressed high expectations for the recently announced collaboration with Altria Group to market and commercialize heated tobacco products in the United States. He stated, "I firmly believe that this collaboration will increase the likelihood of harm reduction for adult consumers and drive value for both JT and Altria.
Terabatake stated, "Due to positive commercial momentum and a favorable currency trend for the Japanese yen, we have revised our full-year 2022 forecast upwards. According to the revised guidelines, we are pleased to announce our plan to increase our annual dividend guidance from 38 Japanese yen to 188 Japanese yen.
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