Japan Tobacco Inc. (JT) has announced that it has applied to the Ministry of Finance for approval to amend the retail prices of its heated tobacco products (HTP) in Japan in conjunction with the revised tax structure effective 1 October 2022.
JT has applied for the retail price amendment for 41 heated tobacco products. In conjunction with revised tax structure, the company has applied to amend the retail prices of HTP in order to strengthen the company’s competitiveness in the RRP market, while comprehensively considering various factors including its adult consumer acceptance and expectations.
The proposed retail prices will take effect on 1 October 2022, subject to approval from the
Ministry of Finance. In Japan, under the Tobacco Business Act, list prices for any tobacco products must be approved by the Ministry of Finance. Retailers are permitted to sell tobacco products only at list prices approved by the Minister of Finance.
For example, the price of JT’s MEVIUS for Ploom TECH would rise from JPY 570 to 600 (USD 4.16 to 4.38).