Price increase in Japan

Philip Morris Japan said yesterday that it would increase the prices of all 86 cigarette products it sells in the country on October 1, on which date tobacco tax is due to rise by ¥1 per cigarette, according to a story in The Japan Times.
The company said it would increase the price of packs of 10 cigarettes by ¥20 and that of packs of 20 cigarettes by ¥50.
For its flagship Marlboro brand, the price of most packs of 20 will be increased to ¥520 from the current ¥470.
The price increases are subject to approval from the Finance Ministry.
The decision to raise cigarette prices above that required by the tax increase had been made after a comprehensive assessment of the market environment, the company said.
The company is considering also a price revision for its iQOS heat-not-burn tobacco products in line with the tax increase.