Japan Tobacco Inc

2914: XTKS (JPN)

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Japan Tobacco's Combustibles Remain Well Positioned While Its Heated Tobacco Is in Early Days

Kristoffer Inton

Oct 31, 2025

Business Strategy and Outlook

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.

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Japan Tobacco Inc

Japan Tobacco's Combustibles Remain Well Positioned While Its Heated Tobacco Is in Early Days

Business Strategy and Outlook

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