Japan Tobacco raises full-year forecast and dividend on strong tobacco performance

Japan Tobacco Inc. reported strong consolidated financial results for the nine months ended September 30, 2025, with revenue from continuing operations reaching JPY 2,634,028 million, up 13.2% year-on-year. Operating profit increased by 20.8% to JPY 762,935 million, primarily driven by the tobacco segment, which saw core revenue at constant FX up 15.3%.

The company's revised full-year forecast for 2025 now anticipates revenue of JPY 3,456,000 million (up 13.1% year-on-year) and operating profit of JPY 845,000 million (up 168.9% year-on-year). Profit attributable to owners of the parent company (continuing operations) is projected at JPY 555,000 million, a 221.3% increase year-on-year. The Ploom AURA ecosystem continues to strengthen its presence in the heated tobacco sticks segment, with strong pricing effects in key markets.

In line with its improved outlook, Japan Tobacco is raising its year-end dividend forecast by JPY 26 to JPY 130 per share. This brings the total annual dividend for 2025 to JPY 234 per share, including the interim dividend of JPY 104. The payout ratio, based on profit from continuing operations, is expected to be 74.9%.