Friday Musings - IQOS: License to Smoke…Anywhere?

Equity Analyst, LightStream Research

Chacko Jacob

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

Japan Consumer discretionary / Thematic (Sector/Industry)

<h2><strong>Overview</strong></h2>
<p>By definition, reduced risk products (RRPs) refer to the category of tobacco products that present a lower risk to smokers of these products. As of 2017, the global market value for reduced-risk products was estimated to be USD 10bn, or 1.4% of the total value for tobacco products. This category is expected to grow in value to USD 15bn by the end of 2018.</p>
<p>The benefits of using RRPs, as claimed by manufacturers of these products, include:</p>
<ul>
<li>Reduction in the levels of potentially harmful…</li>
</ul>

Overview
By definition, reduced risk products (RRPs) refer to the category of tobacco products that present a lower risk to smokers of these products. As of 2017, the global market value for reduced-risk products was estimated to be USD 10bn, or 1.4% of the total value for tobacco products. This category is expected to grow in value to USD 15bn by the end of 2018.
The benefits of using RRPs, as claimed by manufacturers of these products, include:

Reduction in the levels of potentially harmful…


Japan/Tobacco/Reduced-Risk-Products: JT's Ploom Guns for IQOS's Crown With Price War