JT reapply for heat-not-burn cigarette price hike, Philip Morris also

Japan Tobacco Inc. (JT) announced on the 31st that it has reapplied to the Ministry of Finance to increase the price of heated cigarettes in line with the tobacco tax hike on October 1st.In addition to reducing the price increase range to 10 to 20 yen, the price of some brands will remain unchanged.This is the first time JT has reapplied for a price increase, including cigarettes.The Japanese subsidiary of US tobacco giant Philip Morris International (PMI) also re-applied on the 30th to keep the prices of some brands unchanged.

Wechat picture_20220926150352JT has reapplied for deferment of the price of the heat-not-burn cigarette "Plume Tech Plus"

 

JT will keep the price of 24 brands at 580 yen, including "Mobius" exclusively for low-temperature heating "Plume Tech Plus".The price of "Mobius" for "Plume Tech" will be raised from 570 yen to 580 yen (initially 600 yen).JT had received approval for the price increase on the 31st, but decided to reapply after seeing the movements of competitors.The deadline for requesting a price increase is March 31, and no additional requests will be made.

PMI Japan received approval to raise prices on the 23rd, but re-applied to keep prices unchanged for 26 of the 49 issues it applied for.Cigarette sticks "Terrier" used in the main heating device "IQOS Irma" will be maintained at the current 580 yen, and "Sentia" released in April will be maintained at 530 yen."Marlboro Heat Sticks" will be priced from 580 yen to 600 yen as originally requested.

On the 16th, PMI's Japanese subsidiary took the lead in applying to the Ministry of Finance for a price increase for heated cigarettes.On the 25th, JT applied for a price increase of 20 to 30 yen per box for 41 brands.The next day, on the 26th, the Japanese subsidiary of British American Tobacco (BAT) applied for a price increase, and the three major companies had all applied for price increases.


Post time: Sep-28-2022