Japan Tobacco Releases 2020 Second Quarter Results
On July 31, 2020, Japan Tobacco, the maker of Ploom, released its 2020 Second Quarter results.
- Revenue fell by 2.7% – it is believed that COVID-19, which had a detrimental affect on the global economy, was a factor in this decrease
- Operating profits fell by 19.1%
- Japan Tobacco is offering an interim dividend of 77 JPY
- Forecasts for the 2020 year have had to be revised due to the economic effects of COVID-19
- Japan Tobacco is planning on offering an annual dividend of 154 JPY
- Masamichi Terabatake, President and Chief Executive Officer at Japan Tobacco addressed the issue of COVID by stating that “[though] the situation remains very volatile and needs to be closely monitored, [Japan Tobacco] will continue to respond to evolving consumer needs and changes to their behavior with flexibility and agility.”
- Reduced risk products estimated to be 26% of the total tobacco industry
- Japan Tobacco’s reduced risk products sales volume increased from 2019
To read the full 2020 Second Quarter Results, click here.