JT Reports Strong Results for 2022

Japan Tobacco reported revenue of ¥2.66 trillion ($19.97 billion) in 2022, up 14.3 percent over the previous fiscal year.

Operating profit increased by 31 percent to ¥653.6 billion. Profit increased by 30.8 percent to ¥442.7 billion.

For full-year 2023, revenue is forecast to decrease by 1.1 percent to ¥2,629 billion. Operating profit is forecast to decrease by 6.4 percent to ¥612 billion. Profit attributable to owners of the parent company is forecast to decrease by 0.6 percent to ¥440 billion.

“The JT Group reported another strong performance in 2022, driven by solid pricing and sustained market share gains in the tobacco business, overcoming the global challenges,” said Masamichi Terabatake, president and CEO of the JT Group, in a statement. “We continued to make progress in the reduced-risk products category, with Ploom X increasing share in the HTS (heated-tobacco sticks) segment in Japan and the launch of Ploom X in London.”