May 02, 2023 / 08:00AM GMT
Nobuya Kato - Japan Tobacco Inc. - Senior VP & CFO
I am Nobuya Kato, Chief Financial Officer of the JT Group. Thank you for joining us today for JT Group's 2023 First Quarter Earnings Briefing.
Before detailing each businesses, let me explain the 3 months consolidated financial results. Please refer to Slide 3. Adjusted operating profit at constant currency, our primary performance indicator increased 5.1% year-on-year, representing a strong start of the year. This was mainly due to the significant pricing contribution in the tobacco business, which outweighed the impact of deteriorating product mix and higher input costs. On a reported basis, revenue increased 14.4% year-on-year, driven by the top-line growth in the tobacco and pharmaceutical businesses strengthened by the favorable exchange rates in the tobacco business due to the depreciation of the Japanese yen. Both AOP and operating profit grew at double-digit rate, supported by all businesses and the depreciation of the Japanese yen.
Profit increased as operating profit growth and lower corporate income tax offset the negative
Q1 2023 Japan Tobacco Inc Earnings Call Transcript
Feb 14, 2024
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