Japan Tobacco Inc

2914: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Japan Tobacco Earnings: Raising Fair Value Estimate by 10% on Price Increases; Shares Overvalued

Kristoffer Inton

Aug 3, 2026

Japan Tobacco's momentum continued in the second quarter as core tobacco revenue grew 22% on the roughly equal impact of higher prices and favorable currency benefits. Tobacco-adjusted operating profit margin expanded by more than 2 percentage points to 36.5%.

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Japan Tobacco Inc

Japan Tobacco Earnings: Raising Fair Value Estimate by 10% on Price Increases; Shares Overvalued

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