Japan Tobacco reports 14.3% year-on-year growth
Japan Tobacco reported 2022 revenue of JPY 2.66 trillion ($19.97 billion), up 14.3% from the previous year. Operating profit rose 31% to JPY 653.6 billion, while profit increased 30.8% to JPY 442.7 billion. For 2023, full-year revenue is expected to decli
Japan Tobacco reported revenue of 2.66 trillion yen ($19.97 billion) in 2022, up 14.3% from the previous year.
Operating profit rose 31% to 653.6 billion yen. Profit increased 30.8% to 442.7 billion yen.
For the full year 2023, revenue is expected to decline 1.1% to 2.629 trillion yen. Operating profit is forecast to fall 6.4% to 612 billion yen. Profit attributable to owners of the parent is expected to decrease 0.6% to 440 billion yen.
JT Group President and CEO Masamichi Terabatake said in a statement: “The JT Group delivered another year of strong results in 2022, driven by solid pricing, continued market share growth in the tobacco business, and our ability to overcome global challenges.” “We also continued to make progress in the reduced-risk product category, with Ploom X increasing its share in Japan’s HTS (heated tobacco sticks) segment, and with the launch of Ploom X in London.”
