Philip Morris To Raise Cigarette Prices In Japan As Tobacco Tax Increases

Philip Morris Japan K.K. said Tuesday it will raise the prices of all 86 cigarette products it sells 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 20-cigarette packs 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 comprehensively assessing 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.  Enditem