Japan Tobacco Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Revenue	3,456,543	3,149,759	2,841,077	2,657,832	2,324,838	2,092,561	Upgrade
Revenue Growth (YoY)	12.32%	10.87%	6.89%	14.32%	11.10%	-3.82%	Upgrade
Cost of Revenue	1,513,178	1,407,462	1,225,974	1,090,989	956,861	898,001	Upgrade
Gross Profit	1,943,365	1,742,297	1,615,103	1,566,843	1,367,977	1,194,560	Upgrade
Selling, General & Admin	1,152,181	1,279,697	801,067	756,472	714,595	599,546	Upgrade
Research & Development	-	78,614	75,098	70,808	65,016	60,847	Upgrade
Other Operating Expenses	-22,741	-22,350	-11,075	-11,357	-7,403	-8,267	Upgrade
Operating Expenses	1,129,440	1,440,574	969,977	930,181	881,171	755,792	Upgrade
Operating Income	813,925	301,723	645,126	636,662	486,806	438,768	Upgrade
Interest Expense	-165,612	-42,484	-28,493	-27,020	-23,050	-22,534	Upgrade
Interest & Investment Income	76,656	67,562	42,816	26,535	13,371	7,317	Upgrade
Earnings From Equity Investments	14,744	12,885	8,332	8,009	3,997	4,042	Upgrade
Currency Exchange Gain (Loss)	-	-81,806	-51,885	-35,079	-15,565	-35,812	Upgrade
Other Non Operating Income (Expenses)	2	-32,965	-13,247	-24,561	-1,389	4,209	Upgrade
EBT Excluding Unusual Items	739,715	224,915	602,649	584,546	464,170	395,990	Upgrade
Merger & Restructuring Charges	-	-	-	-	-	1,688	Upgrade
Gain (Loss) on Sale of Assets	-	8,852	18,952	8,905	8,219	34,623	Upgrade
Asset Writedown	-	-	-	-	-	-12,239	Upgrade
Pretax Income	739,715	233,767	621,601	593,451	472,389	420,062	Upgrade
Income Tax Expense	199,392	51,171	136,292	149,277	132,208	108,034	Upgrade
Earnings From Continuing Operations	540,323	182,596	485,309	444,174	340,181	312,028	Upgrade
Earnings From Discontinued Operations	-3,902	-	-	-	-	-	Upgrade
Net Income to Company	536,421	182,596	485,309	444,174	340,181	312,028	Upgrade
Minority Interest in Earnings	-3,717	-3,356	-3,021	-1,458	-1,691	-1,775	Upgrade
Net Income	532,704	179,240	482,288	442,716	338,490	310,253	Upgrade
Net Income to Common	532,704	179,240	482,288	442,716	338,490	310,253	Upgrade
Net Income Growth	10.36%	-62.83%	8.94%	30.79%	9.10%	-10.90%	Upgrade
Shares Outstanding (Basic)	1,775	1,776	1,775	1,775	1,774	1,774	Upgrade
Shares Outstanding (Diluted)	1,776	1,776	1,776	1,775	1,775	1,775	Upgrade
Shares Change (YoY)	-0.01%	0.01%	0.01%	0.01%	0.01%	-0.15%	Upgrade
EPS (Basic)	300.04	100.95	271.69	249.45	190.76	174.88	Upgrade
EPS (Diluted)	300.00	100.94	271.63	249.36	190.68	174.80	Upgrade
EPS Growth	10.37%	-62.84%	8.93%	30.77%	9.09%	-10.76%	Upgrade
Free Cash Flow	388,994	502,242	472,153	402,388	512,559	434,514	Upgrade
Free Cash Flow Per Share	219.07	282.83	265.92	226.65	288.74	244.81	Upgrade
Dividend Per Share	201.000	194.000	194.000	188.000	140.000	154.000	Upgrade
Dividend Growth	2.03%	-	3.19%	34.29%	-9.09%	-	Upgrade
Gross Margin	56.22%	55.32%	56.85%	58.95%	58.84%	57.09%	Upgrade
Operating Margin	23.55%	9.58%	22.71%	23.95%	20.94%	20.97%	Upgrade
Profit Margin	15.41%	5.69%	16.98%	16.66%	14.56%	14.83%	Upgrade
Free Cash Flow Margin	11.25%	15.95%	16.62%	15.14%	22.05%	20.77%	Upgrade
EBITDA	982,772	481,560	824,778	836,313	673,863	606,517	Upgrade
EBITDA Margin	28.43%	15.29%	29.03%	31.47%	28.98%	28.98%	Upgrade
D&A For EBITDA	168,847	179,837	179,652	199,651	187,057	167,749	Upgrade
EBIT	813,925	301,723	645,126	636,662	486,806	438,768	Upgrade
EBIT Margin	23.55%	9.58%	22.71%	23.95%	20.94%	20.97%	Upgrade
Effective Tax Rate	26.96%	21.89%	21.93%	25.15%	27.99%	25.72%	Upgrade
Advertising Expenses	-	220,249	180,154	154,125	137,942	119,403	Upgrade

Source: S&P Global Market Intelligence. Standard template. Financial Sources.