JAPAN
Japan Tobacco International (JTI) has filed for Finance Ministry approval over its plans to raise the prices of most of its products in line with the tobacco tax hike set for October 1.
The tobacco tax hike will be JP¥1 per cigarette, with an additional tax hike of ¥2 to be implemented by October 2021.
If JTI receives ministry approval, its cigarette prices would go up by ¥Y20 to ¥40 per 20-cigarette pack. Mevius brand products would sell for JPY480 (US$4.30), which is ¥Y40 more than current prices. Capsules for Ploom Tech heat-not-burn devices would go up by ¥30 to ¥490 in the first price hike for the brand.
Other tobacco-makers who have moved in the same direction are Philip Morris Japan Ltd., who has already filed for ministry approval for its planned price increases for its mainstay Marlboro cigarette brand and its IQOS heat-not-burn tobacco device, and British American Tobacco Japan Ltd. who is also considering a price revision.