Philip Morris to Raise Cigarette Prices in Japan
Tokyo, June 12 (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 one yen per cigarette.
The company will raise the price of a 10-cigarette pack by 20 yen and a pack of 19 to 20 cigarettes by 50 yen. 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 yen from the current 470 yen.
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.
[Copyright The Jiji Press, Ltd.]