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Philip Morris Japan to hike tobacco prices

Jiji Press TOKYO (Jiji Press) — Philip Morris Japan K.K. said Tuesday it will raise the prices of all 86 cigarette products sold in the country on Oct. 1, when the tobacco tax is raised by ¥1 per cigarette.

The company will raise the price of a 10-cigarette pack by ¥20 and a pack of 19 to 20 cigarettes by ¥50. The price increase is subject to approval from the Finance Ministry.

For its flagship Marlboro brand, the price of most 20-cigarette packs will rise to ¥520 from the current ¥470.

The decision to raise cigarette prices higher than the tax increase comes after Philip Morris comprehensively assessed the market environment, the company said.

The company is considering a price revision for its IQOS heat-not-burn tobacco products in line with the tax hike.Speech

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