The Finance Ministry has authorized applications by Japan Tobacco Inc. and two other tobacco makers to raise list prices on their products, effective July 1.
JT, Philip Morris Japan K.K. and British American Tobacco Japan Ltd. plan price increases of 20 yen to 30 yen per pack for many of their brands. One pack usually holds 20 cigarettes.
JT’s popular Mild Seven brand will be priced at 300 yen, up from the current 270 yen.
The three companies decided on the hikes because the government will raise the tobacco tax by about 20 yen per pack July 1.