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Consumer Non-Durables

Japan Tobacco, Inc.

Business Summary

Japan Tobacco, Inc. engages in the manufacture and sale of tobacco, pharmaceutical and processed food products. It operates through the following divisions: Japanese Domestic Tobacco, International Tobacco, Pharmaceutical, and Processed Food. The Japanese Domestic segment deals with the production and sale of tobacco products in domestic areas. The International Tobacco segment manufactures and markets tobacco products worldwide. The Pharmaceutical segment develops, manufactures, and sells prescription drugs. The Processed Food segment offers processed food, bakery products and seasonings. The company was founded on April 1, 1985 and is headquartered in Tokyo, Japan.

Financial Highlights

Dec 2022 JPYUSD
Gross Profit1,452.58B11,043.95M
Operating income661,584M5,029.99M
Income before tax585,441M4,451.08M
Net income442,716M3,365.95M
Diluted EPS249.361.89
Dividends Per Share1881.42
Total Assets6,548.07B49,627.32M
Total liabilities2,931.31B22,216.20M
Total equity3,540.43B26,832.65M
Operating cash flow483,799M3,678.30M
Currency in JPYCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 2,215.96B 2,175.62B 2,092.56B 2,324.83B 2,657.83B
Gross Profit 1,195.57B 1,127.23B 1,090.89B 1,259.01B 1,452.58B
Operating income 532,832M 452,618M 432,673M 540,732M 661,584M
Income before tax 531,486M 465,232M 420,063M 468,393M 585,441M
Net income 385,676M 348,190M 310,254M 338,490M 442,716M
EBITDA 690,929M 635,937M 611,965M 727,731M 860,956M
Diluted EPS 215.20 195.87 174.79 190.68 249.36
Dividends Per Share 150 154 154 140 188
Total Assets 5,461.40B 5,553.07B 5,381.38B 5,774.20B 6,548.07B
Total liabilities 2,760.95B 2,809.46B 2,781.88B 2,888.12B 2,931.31B
Total equity 2,630.59B 2,662.69B 2,522.83B 2,809.25B 3,540.43B
Operating cash flow 461,389M 540,410M 519,833M 598,909M 483,799M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 20,064.33M 19,957.89M 19,599.04M 21,159.27M 20,207.40M
Gross Profit 10,825.28M 10,340.56M 10,217.37M 11,458.78M 11,043.95M
Operating income 4,824.50M 4,152.04M 4,052.43M 4,921.41M 5,029.99M
Income before tax 4,812.31M 4,267.75M 3,934.33M 4,263.03M 4,451.08M
Net income 3,492.08M 3,194.08M 2,905.85M 3,080.73M 3,365.95M
EBITDA 6,255.98M 5,833.70M 5,731.69M 6,623.36M 6,545.81M
Diluted EPS 1.94 1.79 1.63 1.73 1.89
Dividends Per Share 1.35 1.41 1.44 1.27 1.42
Total Assets 49,778.06M 51,097.96M 52,122.44M 50,142.92M 49,627.32M
Total liabilities 25,164.79M 25,851.95M 26,944.52M 25,080.36M 22,216.20M
Total equity 23,976.61M 24,501.45M 24,435.41M 24,395.44M 26,832.65M
Operating cash flow 4,177.62M 4,957.39M 4,868.78M 5,450.90M 3,678.30M

Valuation Measures

Dec 2022
Operating margin24.89%
Profit margin16.65%

Key executives

  • President, CEO & Representative Director: Masamichi Terabatake
  • Chief Financial Officer & Senior Vice President: Nobuya Kato
  • Executive Officer, Head-Research & Development: Hiroyuki Miki
  • Director, Head-Compliance & General Affairs: Kazuhito Yamashita
  • Executive Officer & Head-Digitalization: Takehisa Shibayama


  • Government of Japan (33.3%)
  • Japan Tobacco, Inc. (11.2%)
  • Nomura Asset Management Co., Ltd. (2.6%)
  • The Vanguard Group, Inc. (1.6%)
  • Nikko Asset Management Co., Ltd. (1.2%)
  • BlackRock Fund Advisors (1.2%)
  • Daiwa Asset Management Co. Ltd. (1.2%)
  • GQG Partners LLC (0.7%)
  • Mitsubishi UFJ Kokusai Asset Management Co., Ltd. (0.6%)
  • JT Group Employee Stock Ownership Plan (0.5%)

Contact Details

  • Website:
  • Address: 2-2-1 Toranomon, Minato-Ku, Tokyo, 105-8422, Japan
  • Phone: +81.3.3582.3111

Related Companies

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  • SPVB Developments UK Ltd.
  • True Spirit Tobacco Co.
  • JT Logistics Co., Ltd.
  • Japan Tobacco Restricted Stock Compensation Plan
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  • JTI (RMS) Ltd.
  • Emerging Products Holding BV
  • JTI Business Services (Asia) Sdn. Bhd.
  • JTI Processadora de Tabaco do Brasil Ltda.
  • United Dhaka Tobacco Co. Ltd.
  • PT Karyadibya Mahardhika
  • PT Surya Mustika Nusantara
  • Fluxo Brasil Distribuidora de Produtos SA
  • Reynolds American, Inc. /Natural American Cigarettes 9/
  • JTI Tutun Urunleri Sanayi AS
  • JT International Group Holding BV
  • Shanghai JS Foods Co. Ltd.
  • Japan Tobacco (Hong Kong) Ltd.
  • Logic Technology Development LLC
  • JT International Co. Ukraine CJSC
  • JTI Tutun Urunleri Pazarlama AS
  • JT (UK) Ltd.
  • Zandera Ltd.
  • Al Nakhla Tobacco Free Zone SAE
  • Batata SA /Subsdiaries (2)/
  • Al Nakhla Tobacco Co. SAE
  • JT International (Asia Pacific) Ltd.
  • JT International (Philippines), Inc.
  • Haggar Cigarette & Tobacco Factory Ltd. (South Sudan)


  • British American Tobacco p.l.c.
  • Philip Morris International Inc.
  • Ajinomoto Co., Inc.
  • Maruha Nichiro Corp.
  • Imperial Brands PLC
  • Nichirei Corporation
  • Nissui Corporation
  • Akebia Therapeutics, Inc.
  • FibroGen, Inc.
  • LT Group, Inc.
  • Charlie's Holdings Inc
  • 22nd Century Group, Inc.
  • Arcutis Biotherapeutics Inc
  • Mativ Holdings, Inc.
  • Regeneron Pharmaceuticals, Inc.
  • Compania de Distribucion Integral Logista Holdings S.A.
Last Updated on 2 Jun, 2023

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