According to the Nikkei Business Daily reported on May 2, Japan Tobacco International (JTI) announced that it will invest about 450 billion yen (about $2.9 billion) in heated tobacco over the next three years in 2026. In addition, the company plans to expand into the Middle East and Africa market, and expects to expand its sales region to more than triple to 45 regions by the end of this year by 2026.

In an interview with the Nikkei Business daily, CEO Masamichi Terabatake made it clear that in the context of the shrinking market for traditional paper cigarettes, Nikon Tobacco International wants to cultivate heated tobacco asa new revenue source.

The company had planned to invest 300 billion yen ($1.9 billion) in heated tobacco over the three years from 2023 to 2025. However, under the guidance of Mr Terakihiro, the company decided to invest more and meet its target ahead of schedule.