Japan Tobacco Reports Q1 Revenue of $4.86 Billion

News today, May 3: According to foreign media reports, Japan Tobacco Inc. (JT) reported revenue of 665.3 billion yen ($4.86 billion) for the first quarter of 2023, up 14.4% from the same period in 2022.

Core revenue at constant exchange rates rose 6.2% to 594.6 billion yen. Adjusted operating profit at constant exchange rates increased 5.1% to 204.7 billion yen.

According to the report, adjusted operating profit increased 14.6% to 223.4 billion yen. Operating profit rose 15.7% to 206.4 billion yen. Profit increased 16.6% to 144.7 billion yen.

JT President and CEO Masamichi Terabatake said: “The JT Group delivered solid results in the first quarter, building on the positive momentum in its businesses. Strong pricing in the tobacco business continued to drive the Group’s strong performance.

“In line with our plan to expand the HTS (heated tobacco sticks) business and lay the foundation for future earnings growth for the JT Group, following the encouraging launch in the UK, we successfully launched Ploom X in Italy and Lithuania in April. We are making good progress with other international launches and plan to launch in Portugal in mid-May.”

“Guided by the Group management principle of pursuing the 4S model, and taking into account the JT Group Purpose recently announced, we will continue to make all necessary decisions to respond to operational uncertainties such as regulatory changes, economic instability and exchange-rate fluctuations.”