JTI Plans to Expand Investment in HTPs, Promoting in Mid-East and African Markets

JTI by 2FIRSTS.ai

May.06.2024

JTI Plans to Expand Investment in HTPs, Promoting in Mid-East and African Markets

Japan Tobacco International (JTI) plans to invest $29 billion in heated tobacco over three years, expanding sales globally.

According to a report from Nikkei on May 2, Japan Tobacco International (JTI) has announced plans to invest approximately 450 billion yen (about $29 billion) in heated tobacco products over the next three years by 2026. Additionally, the company plans to enter the markets in the Middle East and Africa, expecting its sales regions to expand to more than three times the current level by the end of 2026, reaching 45 areas.

The company's CEO, Masamichi Terabatake, stated clearly in an interview with Nikkei Economic News that, amidst the continuous decline of the traditional cigarette market, Japan Tobacco International aims to cultivate heated tobacco as a new source of revenue.

The company originally planned to invest 300 billion yen (approximately 1.9 billion USD) in heated tobacco products over the three-year period from 2023 to 2025. However, under the guidance of Shodo Terahata, the company has decided to increase its investment and accelerate the achievement of its original target.

References:

[1] JT、加熱式たばこに4500億円投資　中東やアフリカ進出

Also Read:

[1] JTI Korea to Launch New Product "Mevius LBS Citro Wave"

[2] Ploom X Advanced: JTI's Innovative Heated Tobacco Device Launched in Spain

[3] JTI's 'Ploom X' Special Edition Launch Event in Milan

[4] Estonia May Stop Selling PMI, JTI Products Due to Their Presence in Russia

[5] Estonia Bans Products from Companies Supporting Russian Military Machinery

#Asia #Market #Japan #Heated tobacco products #Major companies #Product

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