Japan Tobacco Inc

2914: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Japan Tobacco Earnings: Strong Performance Should Continue, but Rally Leaves Shares Pricey

Kristoffer Inton

Feb 13, 2026

Japan Tobacco's strong performance continued into the fourth quarter, as tobacco core revenue grew 15% on higher prices and volumes as well as favorable currency movement. Tobacco adjusted operating profit margin held roughly steady at about 14.1%.

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Japan Tobacco Inc

Japan Tobacco Earnings: Strong Performance Should Continue, but Rally Leaves Shares Pricey

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