Japan Tobacco Releases Second-Quarter Results
JT Group reported revenue of JPY 1.6 trillion ($10.63 billion) in the second quarter of 2024, up 12.7 percent from the same period in 2023. Profit increased 6.3 percent to JPY 305.2 billion. In a statement, JT Group president and CEO Masamichi Terabatake
JT Group reported second-quarter 2024 revenue of JPY 1.6 trillion ($10.63 billion), up 12.7% from the same period in 2023. Profit rose 6.3% to JPY 305.2 billion.
In a statement, Japan Tobacco Group President and CEO Masamichi Terabatake said: “Japan Tobacco Group once again delivered strong results in the first half, supported by continued market share gains and steady pricing in the tobacco business.”
“Total volume increased 2% year-on-year, with combustibles up 1.7% and heated tobacco up 25.5%. The volume growth in heated tobacco was driven mainly by Ploom in the HTS segment, which remains a key area of investment for us, resulting in approximately 29% year-on-year growth in RRP-related revenue.
“In the Japanese market, Ploom volume grew about 36% year-on-year, outpacing total HTS demand growth in the market. In addition, Ploom’s geographic expansion now covers 21 markets, and volume outside Japan is also growing steadily.
“Regarding our full-year performance forecast, we have revised upward our adjusted operating profit on a constant-currency basis to reflect the positive momentum in the first half. On a reported basis, we have also raised our forecast in light of the continued impact of currently favorable foreign exchange trends.”
