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Category: Business & Finance

  • JT Launches Ploom AURA in Japan

    JT Launches Ploom AURA in Japan

    Japan Tobacco Inc. launched its next-generation heated-tobacco device today (May 27) in Japan, the Ploom AURA. The device will initially be available in its Ploom stores and CLUB JT online shop. In parallel, JT Group will roll out EVO, its exclusive and premium heated tobacco sticks, “to complement Ploom AURA and provide adult consumers with the latest and most technologically advanced propositions in the heated tobacco segment,” according to the company. A nationwide launch of Ploom AURA and EVO will start on July 1 in convenience stores and tobacco retail shops, and will roll out globally in the near future.

    “In the reduced-risk products [RRP] category, we are focusing on providing adult consumers with quality products, rooted in technology, consumer insights, and experience, and I truly believe Ploom AURA embraces all these aspects and more,” said Takehiko Tsutsui, executive vice president of RRPs.

    JT Group said it will continue to prioritize investments in the heated tobacco sticks segment through 2027, and will be investing 650 billion yen ($4.5 billion) in RRP, much for the Ploom AURA and its launch.

    “The RRP category is reshaping the global tobacco landscape, and I am confident that Ploom AURA and EVO will play key roles in supporting JT Group’s ambition of reaching mid-teens share in the HTS segment by 2028,” said Tsutsui.

  • BAT Responds to ITC Speculation

    BAT Responds to ITC Speculation

    British American Tobacco responded to the recent speculation relating to a potential disposal of part of its shareholding in ITC Limited. “BAT confirms that it is evaluating a possible disposal of a small part of BAT’s shareholding in ITC by means of an on-market trade,” the company said in a press release. “There can be no certainty that any such transaction will proceed, nor can there be any certainty as to the terms of any potential transaction. A further announcement will be made if and when appropriate.”

    The announcement was made on behalf of British American Tobacco by Caroline Ferland, Company Secretary, who likewise said the announcement contained inside information in relation to British American Tobacco for the purposes of Article 7 of the Market Abuse Regulation.

    “The securities referred to herein will not be, and have not been, registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act,” the company said.

    BAT is currently ITC’s top investor, with a 20.3% stake according to LSEG data. Last year BAT sold 436.9 million shares, or roughly 3.5% of ITC’s outstanding shares, for about $2 billion in what was India’s third-largest block deal ever.

  • Ispire Announces Huge Malaysian Expansion

    Ispire Announces Huge Malaysian Expansion

    Ispire Technology Inc. announced that it has received the interim license from the Malaysian Government for the manufacturing of nicotine products. The company said, “This is the first and only nicotine manufacturing license issued in Malaysia approved by both the Federal and State authorities and cements Ispire’s position as the only company with full authorization for export, import, and production.” The approval of the interim license also allows the company to begin manufacturing nicotine products in Malaysia immediately, as well as officially begin marketing its nicotine manufacturing capabilities externally.

    “Receiving the interim license for our Malaysian manufacturing operations is a significant milestone for Ispire as we progress towards positioning the company as a leading international provider of vaping hardware,” said Michael Wang, co-Chief Executive Officer of Ispire. “We can now officially begin manufacturing and marketing our nicotine products in Malaysia, with our Malaysian facility soon featuring 80 production lines, growing its capacity from the current six lines. Once the final license is approved in the coming months as we anticipate, our regulatory requirements in Malaysia will be complete and Ispire will have the first federal nicotine manufacturing license in the country. By diversifying our production base, we are strategically de-risking our production strategy and mitigating the concern of geopolitical factors increasing our pricing.”

  • Universal Announces Dividend Increase, Sets Annual Meeting

    Universal Announces Dividend Increase, Sets Annual Meeting

    Universal Corporation announced that its Board of Directors declared a quarterly dividend of $0.82 per share on the common shares of the company, payable August 4, to common shareholders of record at the close of business on July 14. This increase indicates an annualized rate of $3.28 per common share and a yield of approximately 5.66% based on the $58 per share closing price on May 19.

    “We are pleased to announce our 55th annual dividend increase as we continue to execute our business strategy and deliver on our commitment to returning value to our shareholders,” Preston D. Wigner, chairman, president, and CEO of Universal, said. “Our focus on consistent performance and operational excellence positions us well for continued success.”

    The Board of Directors set the company’s 2025 Annual Meeting of Shareholders for August 5, at 11 a.m. EST at the company’s headquarters.

  • Black Buffalo Appoints New CFO

    Black Buffalo Appoints New CFO

    Black Buffalo Inc. announced the appointment of Loren Eggleton as Chief Financial Officer yesterday (May 21). Eggleton brings over two decades of experience leading high-growth companies through transformative milestones across public and private markets, and will be responsible for overseeing the company’s financial strategy, operations, and capital structure as it scales its retail footprint, strengthens its omnichannel presence, and deepens investments in R&D, compliance, and supply chain infrastructure.

    “Loren brings an exceptional level of financial experience, professionalism, and cultural fit to Black Buffalo,” said Matthew Hanson, Chief Growth Officer of Black Buffalo, “Black Buffalo continues to attract very high-quality talent like Loren, who has proven to be immediately and positively impactful on the company and its continued rapid growth.”

    Prior to joining Black Buffalo, Eggleton served as the inaugural CFO at AppHarvest, where he played a critical role in the company’s journey from a 13-person startup to a publicly traded business on the Nasdaq. During his tenure, he led a successful merger at a $1 billion valuation, raised over $1 billion in financing, scaled the finance organization to support 1,000 employees, and oversaw key areas such as accounting, FP&A, treasury, investor relations, and IT.

  • Scandinavian Reports Q1 Results

    Scandinavian Reports Q1 Results

    Scandinavian Tobacco Group reported its net sales for the first quarter 2025 increased 1.3% to DKK 2 billion ($300 million) with a negative organic net sales growth of 8.8%. EBITDA before special items decreased 5.3% to DKK 317 million ($47.6 million) with an EBITDA margin of 16.1%.

    The reported net sales growth was driven primarily by the addition of the Mac Baren business and high double-digit growth in its XQS nicotine pouch brand, the company said. Organic net sales decline was impacted by lower consumption of handmade cigar sales in the U.S. and the discontinuation of online distribution of ZYN in the U.S. Temporary supply issues related to the go-live of SAP in its European factories phased some machine-rolled cigar sales from the first to later quarters.

    The U.S. market accounts for approximately 45% of the Group’s net sales. As a consequence of the recent changes in U.S. international trade policy—announced in April and resulting in increased tariffs of currently 10% on imported goods—and due to the translation effect from a lower U.S. dollar exchange rate, Scandinavian is adjusting its financial expectations for the full year 2025. The Group now expects reported net sales for 2025 to be in the range of DKK 9.1–9.5 billion ($1.37–1.43 billion), adjusted from the previous range of DKK 9.2–9.7 billion ($1.38–1.46 billion).

    The EBITDA margin decreased 1%-point compared with the first quarter of last year. The decline is driven by a combination of product and market mix, investments in regaining market shares in machine-rolled cigars in key European markets, as well as the expansion of our nicotine pouch business, the company said.

  • Vietnam Seeks Feedback on Cambodian Tobacco Import

    Vietnam Seeks Feedback on Cambodian Tobacco Import

    Vietnam’s Ministry of Industry and Trade (MoIT) is soliciting public feedback on a draft circular regulating import tariff quota for dried tobacco leaves originating from Cambodia for the 2025–26 period. This is a key step in implementing the Bilateral Trade Promotion Agreement between Vietnam and Cambodia, signed last month.

    According to the draft, the regulation covers the import tariff quota for dried tobacco leaves of Cambodian origin. This item will be eligible for a special preferential import duty rate of 0% when imported into Vietnam. The regulation applies to traders seeking to import under a tariff quota and to relevant organizations and individuals.

    For dried tobacco leaves, importers must obtain an import license issued by the MoIT.  

  • U.S. Tops List for Importing Dominican Cigars

    U.S. Tops List for Importing Dominican Cigars

    Iván Hernández Guzmán, the director of the Tobacco Institute of the Dominican Republic, recently offered a breakdown of the nation’s cigar export market, which he said this year will top $1.3 billion with products going to 148 countries.

    Hernández Guzmán said the United States is by far the biggest importer of Dominican cigars, accounting for 74.3% of the market at $906 million. Purchasing power, culture, and relatively low tariffs on premium cigars make the U.S. an attractive market, he said.

    The next highest importers are China $74 million (5.53%) and Germany $60 million (4.45%), followed by Belgium $26 million (1.93%), Nicaragua $22 million (1.63%), Puerto Rico $18 million (1.31%), and Spain $15 million (1.21%).

     “The tobacco of the Dominican Republic is considered a country brand and is recognized for its premium cigars that are highly appreciated nationally and internationally,” Hernández Guzmán said. “So from the government and the private sector, we are working for its greater promotion, expansion, and support.”

  • Online Retailer Acquires Wholesaler

    Online Retailer Acquires Wholesaler

    New Global Marketing, Inc., which does business as Best Cigar Prices, announced a strategic merger where Alliance Cigar will join the New Global family. Best Cigar Prices is an online retailer, established in 1997 and based in Drums, Pennsylvania, while Alliance is a wholesaler with more than 20 years in business. 

    Tom Sullivan, founder and chairman of Alliance, and Steve Kallinikos, president of Alliance, will join the leadership team as executive vice presidents and as shareholders with board representation in the combined companies. Greg Fox will continue in his leadership as president and CEO of Best Cigar Prices, Best Cigar Pub, and now Alliance.

    “This is a natural and very exciting strategic combination of our businesses,” Fox said. “We’ve known and respected each other for decades, and now we have the opportunity to grow both businesses together and to combine our best-in-class services across customer categories.”

    Financial terms of the transaction were not disclosed.

  • Ispire Announces New CFO, Operations Savings

    Ispire Technology Inc. today announced the appointment of Jie “Jay” Yu as the new Chief Financial Officer of the company, after serving as the company’s vice president of finance since June 2023. Yu was the CFO of MTI Environmental Group from 2016 to 2018 and Luokung Technology Corp. from 2018 to 2023.

    “Jay is a well-rounded public company accountant with a strong track record of diligence and professionalism,” Michael Wang, Ispire’s co-Chief Executive Officer said. “He has excelled in his role as vice president of finance, building extensive credibility within the company and thorough knowledge of its financial and corporate structures. I look forward to working with him more closely in his new role as CFO.”

    Ispire also announced that its reduction in workforce and termination of several contractor agreements resulted in a $3.6 million savings in May 2025, and that it will look to cut an additional $6.6 million in operating expenses over the next three months, bringing the total estimated annual operating expenses cut to $10.2 million during the company’s fiscal year of 2025.