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JAPAN TOBACCO, 12% Increase in Net Income, Update Record High for Second Consecutive Term, Dividend Raised by 8 Yen

Thu Feb 12, 2026 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 12th (15:30). The consolidated net income for the fiscal year ended December 2025 surged by 2.8 times that of the previous term, reaching 510 billion yen. For the fiscal year ending December 2026, the consolidated net income is expected to grow by 11.7% to 570 billion yen, marking the second consecutive term of record-high profits. This will be the sixth consecutive term of revenue growth.

At the same time, the company has decided to increase the dividend this fiscal year to 242 yen, an increase of 8 yen from the previous fiscal year.

In the most recent three-month period, from October to December (4Q), the consolidated net loss improved to a deficit of 1.57 billion yen (compared to a loss of 263 billion yen in the same period last year). The operating profit/loss margin drastically improved from -43.5% in the same period last year to 12.5%.

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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, 2023 2,841,077 672,410 621,601 482,288 271.7 194 Feb 13, 2024 IFRS
Dec, 2024 3,056,709 314,223 224,333 179,240 101.0 194 Feb 13, 2025 IFRS
Dec, 2025 3,467,675 867,038 739,786 510,175 287.4 234 Feb 12, 2026 IFRS
YoY +13.4% +175.9% +229.8% +184.6% +184.7%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Guidance 3,456,000 845,000 ー 562,000 316.6 234 Oct 30, 2025 IFRS
Dec, 2025 Results 3,467,675 867,038 739,786 510,175 287.4 234 Feb 12, 2026 IFRS
Revision Rate +0.3% +2.6% － -9.2% -9.2%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 1,734,543 479,871 437,821 319,905 180.2 104 Jul 31, 2025 IFRS
Jan - Jun, 2026 Guidance ー ー ー ー － 121 Feb 12, 2026 IFRS
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 3,056,709 314,223 224,333 179,240 101.0 194 Feb 13, 2025 IFRS
Dec, 2025 3,467,675 867,038 739,786 510,175 287.4 234 Feb 12, 2026 IFRS
Dec, 2026 Guidance 3,697,000 921,000 ー 570,000 321.1 242 Feb 12, 2026 IFRS
YoY +6.6% +6.2% － +11.7% +11.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 729,465 -317,245 -350,622 -263,174 -148.2 -43.5 Feb 13, 2025 IFRS
Jan - Mar, 2025 826,981 248,758 226,069 157,480 88.7 30.1 May 7, 2025 IFRS
Apr - Jun, 2025 907,562 231,113 211,752 162,425 91.5 25.5 Jul 31, 2025 IFRS
Jul - Sep, 2025 899,485 283,064 269,341 191,844 108.1 31.5 Oct 30, 2025 IFRS
Oct - Dec, 2025 833,647 104,103 32,624 -1,574 -0.9 12.5 Feb 12, 2026 IFRS
YoY +14.3% － － +99.4% +99.4%

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