Japan Tobacco revenue and financials

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Close · October 7, 2026

In the fiscal year ended December 2025, Japan Tobacco reported revenue of ¥3.47T (+10.09% year over year). Net income was ¥510.18B, a net margin of 14.7%.

Annual revenue · 2025: ¥3.47T
  1. ¥2.32T2021
  2. ¥2.66T2022
  3. ¥2.84T2023
  4. ¥3.15T2024
  5. ¥3.47T2025

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Revenue growth
+10.09%
2025 vs 2024
Net income growth
+184.63%
2025 vs 2024
Net margin
14.7%
2024: 5.7%

Financial data

Amounts in millions of JPY; per-share values in JPY; shares in millions.

Balance sheet · Quarterly
ItemQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023
Total assets8,669,9538,351,2108,419,2408,195,0458,262,7867,943,2108,370,7326,946,0327,868,6687,159,0037,282,0977,101,511
Current assets3,853,1173,587,3733,711,0973,303,0933,443,4263,199,5443,577,5722,985,5903,461,4032,984,8113,259,5612,983,085
Cash and equivalents827,909694,622831,135729,463865,185809,3641,084,567794,8471,087,840766,9481,040,206869,042
Short-term investments205,435187,695195,816131,871100,17797,727—100,812————
Receivables753,747706,827640,681614,024581,171548,613568,982566,369657,917571,262557,104570,067
Inventory1,118,7511,089,4241,060,1361,003,588962,632954,158957,281871,479941,571875,469832,611826,945
Net property, plant and equipment994,977981,948979,800925,446902,212896,515907,700830,727890,154846,256821,499812,785
Goodwill2,986,7142,954,5362,923,0963,102,5443,037,5812,916,6952,914,2542,592,2342,927,3062,731,6982,616,4402,708,089
Other intangible assets385,184393,430395,658393,856403,680449,317486,463164,132191,399193,655206,982228,129
Long-term investments284,887230,424251,059202,940299,060208,345301,152206,488300,315306,629288,236289,179
Current liabilities1,884,8371,906,6631,927,0751,691,8861,857,3501,797,0722,148,6071,577,0301,734,2521,629,8081,927,2761,563,329
Accounts payable623,516671,320711,721597,373567,713587,455659,510481,935524,777523,215592,802486,271
Long-term debt1,559,6851,553,4541,599,0611,539,7811,439,9541,495,7931,548,121888,8681,075,931939,268908,926954,126
Total debt1,676,772—1,678,688—1,626,433———————
Total liabilities4,246,9034,236,3214,303,8514,026,2814,120,9484,077,8154,522,0052,973,9653,343,3763,086,5333,369,6053,099,862
Total equity (incl. minority)4,423,0504,114,8894,115,3894,168,7644,141,8383,865,3953,848,7273,972,0674,525,2924,072,4703,912,4924,001,649
Retained earnings3,413,6053,178,8803,213,5553,194,6403,184,6463,022,4243,036,9053,302,6193,337,4673,172,0633,192,3233,165,111
Minority interest29,09229,48728,45626,27782,25881,64782,10480,58784,08482,96682,33682,574