Japan Tobacco Inc. (JT) has released its Q4 and end-of-year results for 2021, with a year-to-date 11.1 per cent increase in revenue to JPY 2,324.8 billion (USD 20.1 billion), according to a company press release.

Compared to last year, adjusted operating profit at constant currency increased by 25.4 per cent to JPY 610.4 billion (USD 5.28 billion). Revenue for the fourth quarter increased by 11.6 per cent to JPY 558.8 billion (USD 4.84 billion) and by 11.1 per cent to JPY 2,324.8 billion (USD 20.1 billion) for the full year 2021 driven by increases in the international tobacco, Japanese-domestic tobacco and pharmaceutical businesses, partially offset by a decrease in the processed food business
According to JT, for 2021, the total shipment volume increased by 5.6 per cent, or 4.6 per cent excluding favourable inventory movements. Shipment volume growth was driven by robust market share gains and favourable industry volume comparisons in several markets, notably in the first half, due to travel restrictions and lower illicit trade volume. The market share continued to increase across all key markets, as well as in other markets, primarily in Brazil, Canada, the Czech Republic, Germany, Hungary, Kazakhstan, the Philippines, Poland, Romania, Singapore, Switzerland and Ukraine. GFB shipment volume grew by 10.5 per cent, fuelled by the double-digit increase of Winston (+10.1 per cent) and Camel (+24.1 per cent).
Masamichi Terabatake, President and Chief Executive Officer of the JT Group, said: “The JT Group reported a robust performance in 2021, driven by strong momentum across the tobacco business. Our consumer-centric approach and strong brand portfolio have enabled share gains in the majority of our markets and resulted in a record sales volume in the international tobacco business. Despite a challenging operating environment, including the ongoing pandemic, the Group accomplished several important milestones in the year. We implemented measures to generate sustainable growth, notably in our priority investment category where we launched our new HTS (heated tobacco sticks) device, Ploom X, starting in Japan. We also successfully implemented various initiatives related to the new operating model for the consolidated tobacco business, which went live this January.
“Our aim to achieve mid to high single digit growth of adjusted operating profit at constant currency, in the mid to long term remains unchanged. Expansion of our presence in the RRP category is utmost priority,” he continued.