Japan Tobacco Remains Mostly Exposed to Cigarettes, but Its Competitive Advantage Is Strong

Japan Tobacco is the second-largest tobacco company by volume, globally excluding China, with a market share of about 19%, according to Euromonitor. Its competitive edge is greatest in its home market, where it holds a commanding 63% cigarette market share. Moreover, the popularity of its leading brands, especially Mevius, extends to other Asia Pacific countries as well.