Rejo announced the global debut of Rejo Cube, which it describes as the world’s first modular heat-not-burn (HNB) device, launching in Japan on Feb. 16 through major e-commerce channels at a suggested retail price of JPY 6,980 ($45). The new device features a FlexiCube modular design with a magnetic heating pod and detachable battery available in three color options, allowing multiple combinations, along with a combined 2,250mAh battery capacity supporting up to 20 consecutive sticks per charge. Equipped with OmniHeat 360° heating technology for enhanced flavor delivery and a dual-mode system offering a standard 16-puff setting and a PlusEnjoy Eco Mode for extended use, the device also includes an interactive LCD display. The launch follows the introduction of Rejo Mate Air in Japan in 2025 and marks the company’s latest push to expand its presence in the HNB segment.
Category: Business & Finance
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Stoker’s Offers Two New Dips
Stoker’s launched Stoker’s Proud, a new sub-brand “aimed at meeting growing demand for high-quality, value-priced smokeless tobacco.” Made with 100% American-grown tobacco from Kentucky and Tennessee and manufactured in the United States, Stoker’s Proud features a more traditional long cut format and is positioned as a complementary offering to the flagship Stoker’s line, the company says. The new products are available in two styles — Damn Straight, Long Cut and American Wintergreen, Long Cut — packaged in a classic 1.2-ounce can with an embossed metal lid.
Thomas Helms III, senior brand director at Stoker’s, said the launch allows the company to serve consumers seeking more affordable options while maintaining its American-made heritage and product standards.
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Scandinavian Calls for AGM Proposals
Scandinavian Tobacco Group sent a notice informing shareholders that any proposed motion to be included on the upcoming Annual General Meeting agenda must be received in writing by March 3. Requests can be sent to investor@st-group.com or mailed to Scandinavian Tobacco Group. The AGM is scheduled for April 15.
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Nicotine Pouch Growth Drives Haypp’s 5% Sales Increase
Haypp Group reported strong global growth in nicotine pouches (NPs), with Q4 2025 volume up 28%, driven by the U.S. reintroduction of Zyn in September 2025 and accelerating growth in the UK. NPs now account for 67% of total volume, with FY25 volume up 13% year-over-year. U.S. consumer offtake rose approximately 35% in Q4 2025 and January 2026 volumes jumped 120% year-over-year, with new customer acquisition up over 250%. The company cited improved retention through localized teams, research, and consumer-focused initiatives, achieving an all-time high Net Promoter Score of 82. In the UK, Q4 2025 volume rose 73% and new customer growth reached 112%, accelerating to ~200% and ~125%, respectively, in January.
Looking ahead, Haypp anticipates regulatory changes in Austria will force an exit by mid-2026, though this market represents less than 1% of total sales. The company strengthened its U.S. infrastructure, increasing overhead by 29% to support Media and Insights and online growth initiatives. Leverage stood at 0.6x net debt/adjusted EBITDA at year-end, with inventory tactically increased ahead of January 2026 price hikes. Haypp’s Board reaffirmed 2028 targets: 18–25% annual revenue growth, an adjusted EBIT margin of 5.5% ±150 bps, and reinvestment of cash flows to support ongoing expansion in its core U.S. and UK markets while maintaining compliance as a competitive advantage.
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China Regulator Orders Vape Makers to Halt New Plants
China’s State Tobacco Monopoly Administration ordered e-cigarette manufacturers to halt new factory construction and suspend investment projects as part of efforts to curb price competition and address industry overcapacity, Reuters reported. In a notice issued today (Feb. 13), the regulator said capacity utilization across the sector is already high and warned companies against bypassing the directive by building facilities labeled for other products that are ultimately used to produce e-cigarettes.
The regulator said manufacturers may only expand production if they can demonstrate genuine necessity or prove output is focused on export markets. The notice also bans producers from transferring supply quotas to unlicensed firms or disguising e-cigarette expansion through investment in other product lines, though it allows companies to restructure capacity through mergers. Authorities added that production lines and approved output for e-cigarettes must be clearly separated from those used for heated tobacco products and smoking accessories.
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PMI launches IQOS Iluma i One in the UK
Philip Morris Limited (UK) launched the Iluma I One, the latest addition to its IQOS Iluma heat-not-burn device range, which now includes the Iluma I, Iluma Prime, and Iluma I One. The I One uses the bladeless Smartcore Induction System to deliver tobacco flavor with 95% fewer harmful chemicals than cigarettes and features a touchscreen, autostart, and Flex Puff technology for a personalized experience. The device works with TEREA tobacco sticks, including the new Pearls range, supporting PML’s strategy to provide adult smokers with satisfying, smoke-free alternatives and advance its “smoke-free future” mission in the UK.
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VooPoo Launches New Pod in North America
VooPoo launched the NAVI × Cyph Kit 80K in North America, a long-lasting refillable pod system delivering up to 80,000 puffs with 30 mL e-liquid capacity per pod. The device features a 0.6 Ω dual mesh coil for dense vapor and enhanced flavor, a 1500 mAh battery for up to five days of use, and two vaping modes—Turbo and Norm—for customizable performance. Designed for easy refills with 12 flavor options, the NAVI × Cyph Kit 80K targets users transitioning from disposables, offering extended use, improved flavor, and compact portability in a single device.
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BAT Signals Possible Job Cuts from AI Plan
British American Tobacco signaled potential job cuts as part of a new artificial intelligence-driven productivity initiative, while reporting higher annual profits fueled by strong performance from its Velo nicotine pouch. Interim finance chief Javed Iqbal said the program will focus on automation, data analytics, and operational simplification, though the extent of workforce reductions remains unclear. BAT reported adjusted earnings per share growth of 3.4%, with newer product revenue rising 7% for the year and reaching 18.2% of total sales. Velo has gained traction in the United States, becoming the second-largest nicotine pouch brand by market share behind Philip Morris International’s Zyn, supported by competitive pricing and higher nicotine strength offerings.
Despite momentum in smoke-free products, BAT continues to face regulatory and market headwinds, according to Reuters. The company said illicit vape products are weighing on Vuse performance, with U.S. vape sales expected to remain flat in 2026. Additionally, higher tobacco duties and expanding illicit trade in Australia, along with tax and pricing regulations in Bangladesh, contributed to a more than 7% decline in revenue across BAT’s Asia-Pacific, Middle East, and Africa region, limiting overall group revenue growth to 2.1% in 2025.
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Momentum Driving BAT Confidence in 2026 Delivery
British American Tobacco reported “accelerating momentum” in 2025, driven by strong U.S. combustible sales and rapid growth of its Velo nicotine pouch brand, while total smokeless consumers rose to 34.1 million. The company said new category revenue returned to double-digit growth in the second half of the year and now accounts for 18.2% of total revenue, as BAT continues investing in products such as Vuse, glo and Velo to support long-term transformation.
BAT expects 2026 performance to fall at the lower end of its mid-term growth targets, projecting 3–5% revenue growth and 5–8% adjusted EPS growth amid continued investment and foreign exchange headwinds, while maintaining dividend increases and launching a £1.3 billion share buyback.
“Our U.S. business has delivered strong growth, mainly driven by sustained momentum in combustibles, resulting from our commercial actions and enhanced execution,” company CEO Tadeu Marroco said. “Our New Categories revenue is accelerating, returning to double-digit growth in H2, driven by strong Velo growth in all regions. We continue to prioritize accelerating growth in category contribution through investment in our most profitable markets.”
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JT Reports Record Year with Revenue Up 13%
Japan Tobacco Inc. (JT) reported record fiscal 2025 results, with revenue rising 13.4% to JPY 3.47 trillion ($22.6 billion) and adjusted operating profit increasing 21.5% to JPY 902.2 billion ($5.9 billion), driven largely by tobacco business growth and the acquisition of Vector Group. Profit climbed 188.9% to JPY 499.1 billion ($3.2 billion), while free cash flow rose to JPY 272.7 billion ($1.8 billion), and the company plans to pay an annual dividend of JPY 234 ($1.52) per share.
For fiscal 2026, JT forecasts continued growth, projecting revenue to increase 6.6% and adjusted operating profit to rise 7.9%, as it accelerates investment in heated tobacco products to complement its combustible cigarette portfolio and support long-term earnings expansion.
“These achievements are the outcome of the strategic investments we have actively pursued over the years,” said JT Group president and CEO Takehiko Tsutsui. “In our Business Plan 2026, we intend to accelerate investments in heated products with the aim of establishing them as the second pillar of profit growth, alongside combustibles, in future years. Furthermore, we are targeting high single digit growth at a [compound annual growth rate] in consolidated adjusted operating profit at constant FX, driven by the tobacco business.”