JT has published its second quarter results for 2021, with a 11.1 per cent increase in revenue to JPY 1.144,5 billion (USD 10.43 billion) compared to the previous year, the company said.

At constant currency, adjusted operating profit increased by 26.9 per cent to JPY 365.1 billion driven by increases in the international tobacco, Japanese-domestic tobacco and processed food businesses, partially offset by a decrease in the pharmaceutical business. On a reported basis, adjusted operating profit increased by 24.5 per cent to JPY 358.2 billion, despite negative foreign currency impacts in the international tobacco business. Operating profit increased by 27.8 per cent to JPY 322.1 billion driven by an increase in adjusted operating profit. Total shipment volume increased 10.1 per cent including favourable inventory movements, JT said.
Masamichi Terabatake, President and Chief Executive Officer of the JT Group, said: “JT Group delivered a robust performance in the first half, driven by strong business momentum. This was a result of continued market share gains in combustibles in many markets and continued tailwinds of strong industry volume trends due to travel restrictions in some mature markets.
“Considering this robust performance, we have revised our full year guidance upward.
“We have launched Ploom X, our next generation device for heated tobacco sticks in Japan, the world’s largest heated tobacco market. Listening carefully to our consumers around the world, we have developed our first global model, offering a richer and enhanced taste, improved design, and a more intuitive user experience. Ploom X will gradually be rolled out across other markets.
“We are also making steady progress on several initiatives announced in February this year, including the rollout of our new operating model for the combined one tobacco business as well as measures to strengthen competitiveness in the Japan market. These initiatives will act as a catalyst for future growth while we continue to offer products and services which exceed our consumers’ expectations.”