Japan Tobacco sees record 2024 results, forecasts continued growth

Japan Tobacco (JT) announced record consolidated financial results for the fiscal year ended December 31, 2024, driven by a robust tobacco business and strategic acquisitions. Revenue reached ¥3,149.8 billion, up 10.9% year-on-year, while adjusted operating profit (AOP) rose 3.3% to ¥751.9 billion. The tobacco segment was a key driver, with AOP at constant FX increasing 9.7%, bolstered by combustibles and strategic pricing. The company is maintaining its focus on high single-digit growth and is investing in reduced-risk products (RRP), particularly Ploom heated tobacco sticks, which are gaining market share.