Japan Tobacco to cut heated tobacco prices in battle with Philip Morris

From: Reuters

Taiga UranakaRitsuko Shimizu

TOKYO (Reuters) – Japan Tobacco Inc (2914.T) is set to slash prices on its heated tobacco products early next week after a similar move by bigger rival Philip Morris International Inc (PM.N), signaling increased competition in Japan’s nascent market for alternative cigarettes.

Japan, where regular e-cigarettes with nicotine-laced liquid are effectively banned, has become the main market for “heat not burn” (HNB) products which emit less smoke and smell less than conventional cigarettes. The country accounts for over 90 percent of the $5 billion HNB market, according to Euromonitor.

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