JAPAN TOBACCO, 3% Decrease in Net Income for The Current Fiscal Year

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Thu Feb 13, 2025 3:30 pm JST Earnings

2914 JAPAN TOBACCO INC. 【IFRS】

Earnings Report

JAPAN TOBACCO INC. <2914> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 13th (15:30). The consolidated net income for the fiscal year ending December 2024 decreased 3.9% from the previous period to 463 billion yen. In the fiscal year ending December 2025, the profit is expected to decrease by 2.9% from the previous period to 450 billion yen.

In the most recent three-month period, from October to December (4Q), the consolidated net income dropped to 20.9 billion yen, a 48.0% decrease compared to the same period last year. However, the operating profit margin improved from 5.9% in the same period last year to 8.0%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	2,657,832	653,575	593,450	442,716	249.5	188	Feb 14, 2023	IFRS
Dec, 2023	2,841,077	672,410	621,601	482,288	271.7	194	Feb 13, 2024	IFRS
Dec, 2024	3,149,759	323,461	233,766	179,240	101.0	194	Feb 13, 2025	IFRS
YoY	+10.9%	-51.9%	-62.4%	-62.8%	-62.8%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Guidance	3,163,500	688,000	ー	467,000	263.0	194	Oct 31, 2024	IFRS
Dec, 2024 Results	3,149,759	323,461	233,766	179,240	101.0	194	Feb 13, 2025	IFRS
Revision Rate	-0.4%	-53.0%	－	-61.6%	-61.6%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	1,569,892	432,662	399,073	305,172	171.9	97	Aug 2, 2024	IFRS
Jan - Jun, 2025 Guidance	ー	ー	ー	ー	－	97	Feb 13, 2025	IFRS
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	2,841,077	672,410	621,601	482,288	271.7	194	Feb 13, 2024	IFRS
Dec, 2024	3,149,759	323,461	233,766	179,240	101.0	194	Feb 13, 2025	IFRS
Dec, 2025 Guidance	3,273,000	671,000	ー	450,000	253.4	194	Feb 13, 2025	IFRS
YoY	+3.9%	+107.4%	－	+151.1%	+151.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	684,059	40,563	35,392	40,278	22.7	5.9	Feb 13, 2024	IFRS
Jan - Mar, 2024	740,333	215,818	201,266	157,266	88.6	29.2	May 9, 2024	IFRS
Apr - Jun, 2024	829,559	216,844	197,807	147,906	83.3	26.1	Aug 2, 2024	IFRS
Jul - Sep, 2024	823,386	203,967	181,199	137,242	77.3	24.8	Oct 31, 2024	IFRS
Oct - Dec, 2024	756,481	-313,168	-346,506	-263,174	-148.2	-41.4	Feb 13, 2025	IFRS
YoY	+10.6%	－	－	－	－