Japan Tobacco Inc. · TSE:2914
Japan Tobacco — Q1 2025 Earnings Presentation
14 slides from Japan Tobacco's earnings presentation, May 7, 2025
Slide 1: 2025 First-Quarter Results
JT Group 2025 First-Quarter Results Hiromasa Furukawa JT Group Chief Financial Officer *Please be reminded that the figures shown on these slides may differ from those shown in the financial statements as they are intended to facilitate the reader’s understanding of individual businesses. *For detai
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. These statements appear in a number of places in this document and include statements regarding the intent, belief, or current and future expectations of our management with respect to our business, financial condition
Slide 3: Transfers of both the JT Pharmaceutical business to Shionogi and shares of Torii
Transfers of both the JT Pharmaceutical business to Shionogi and shares of Torii • On May 7, 2025, JT entered into an agreement with Shionogi & Co., Ltd. ("Shionogi") to transfer its pharmaceutical business through a simplified absorption-type split. JT also entered into an agreement with Shionogi t
Slide 4: 2025 First-Quarter Consolidated Results: Solid AOP growth driven by the Tobacco Business
2025 First-Quarter Consolidated Results: Solid AOP growth driven by the Tobacco Business Revenue and AOP 1) 2025 (JPY BN) vs. 2024 Jan-Mar • Revenue grew strongly, mainly driven by pricing contributions in At constant FX the tobacco business • Robust AOP growth was fueled by the tobacco and Core rev
Slide 5: Tobacco Business Volume Performance: Market share gains continued and RRP volume grew double digit
Tobacco Business Volume Performance: Market share gains continued and RRP volume grew double digit 2025 Combustibles （BnU） vs. 2024 Jan-Mar • On-going share momentum across the footprint Total volume 134.4 -1.3% • Strong volume growth in the EMA cluster - Inclusion of VGR contribution - More resilie
Slide 6: Tobacco Business Financial Performance: Pricing contribution more than offsets RRP investment and higher costs
Tobacco Business Financial Performance: Pricing contribution more than offsets RRP investment and higher costs 2025 （JPY BN） vs. 2024 Volume Jan-Mar • Positive volume contribution mainly driven by the volume Core revenue 738.5 +13.0% and improved market mix from VGR inclusion at constant FX 745.1 +1
Slide 7: Tobacco Business Results by Cluster
Tobacco Business Results by Cluster ASIA WESTERN EUROPE EMA +1.2% +3.4％ +57.0％ +0.8％ +1.8％ +30.7％ -2.4% +1.7% -9.3% Total CR AOP Total CR AOP Total CR AOP Volume Volume Volume Total Volume Total Volume Total Volume • Market share gains mainly in Taiwan • Market share gains in several markets • Inclu
Slide 8: Tobacco Business: Launch of a new Ploom ecosystem in Japan
Tobacco Business: Launch of a new Ploom ecosystem in Japan Global Ploom SoS in HTS* +3.6ppt 8.2% 4.6% Dec’2022 Feb’2025 23 *13 markets where Ploom has at least 12 month of presence • Strengthening of the HTS pipeline with the planned launch of new and improved Ploom device and a premium blend heated
Slide 9: Ploom Global Overview: Continued solid share gains across the footprint
Ploom Global Overview: Continued solid share gains across the footprint Ploom SoS in HTS 1) 2) Japan UK Italy Ploom Volume 12.5% 12.7% 4.8% Ploom SoS 11.6% 10.9% 11.3% 10.5% 10.7% 9.3% 9.5% 2.8% 8.1% 7.6% 7.9% 1.5% 7.2% 1.4% 0.5% 0.2% '22Q1 '22Q2 '22Q3 '22Q4 '23Q1 '23Q2 '23Q3 '23Q4 '24Q1 '24Q2 '24Q3
Slide 10: Pharmaceutical and Processed Food Businesses Financial Results
Pharmaceutical and Processed Food Businesses Financial Results Pharmaceutical Business Revenue 2025 vs. 2024 （JPY BN） Jan-Mar variance • Increase mainly due to sales growth in the area of skin diseases and allergens at TORII PHARMACEUTICAL CO., LTD. and higher overseas royalty income from the deprec
Slide 11: Closing remarks
Closing remarks
Slide 12: Closing remarks
Closing remarks • Double-digit top-line growth, driven by robust pricing contributions in the tobacco business, fueled a 20.8% increase in consolidated AOP at constant FX in the first quarter • Solid momentum in the tobacco business in the quarter, alongside more Share favorable FX trends, delivered
Slide 13: Definitions
＜Definitions＞ Adjusted operating profit Operating profit + amortization cost of acquired intangibles arising from business acquisitions + adjusted items (income and costs)* (AOP) * Adjusted items (income and costs) = impairment losses on goodwill ± restructuring income and costs ± others. Constant F
Slide 14: Definitions
＜Definitions＞ Total volume The volume of tobacco-based products which excludes contract-manufactured products, RRP devices and related accessories. Combustibles volume The shipment volume of combustibles which excludes contract-manufactured products and RRP. RRP volume RRP sales volume in cigarette-