Japan Tobacco Inc

2914: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Japan Tobacco Earnings: Slower Revenue Growth and Currency Headwinds Look to Inflict Pain on 2025

Kristoffer Inton

Feb 14, 2025

Japan Tobacco ended 2024 with another quarter of strong performance as tobacco core revenue grew by 14.5% on a constant-currency basis as volumes surprised with growth of 3%. However, 2025 guidance points to slower top-line growth (6.6% constant currency) as well as lower adjusted operating margin.

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Japan Tobacco Inc

Japan Tobacco Earnings: Slower Revenue Growth and Currency Headwinds Look to Inflict Pain on 2025

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