Japan Tobacco Inc. said Aug. 21 that it received approval from the Japanese finance ministry to increase the local retail prices of its tobacco products.
The Tokyo-based cigarette maker will raise the prices of 115 tobacco products including 102 cigarette products, three cigarillo products, three pipe tobacco products, three cut tobacco products and four Ploom S tobacco-infused vapor products.
Effective Oct. 1, the company's Natural American Spirit, Seven Stars and Peace, Mevius, Pianissimo and 10-unit Hope cigarettes, as well as its Mevius for Ploom S, will see a ¥10 price hike.
The rise in prices is in response to a planned increase in consumption tax, Japan Tobacco said.
As of Aug. 21, US$1 was equivalent to ¥106.48.
