Figure 38： Japan Survey： heated tobacco users age proportion (vs 2018 smoking population)

representative sample of 998 consumers from 4th to 22nd of December 2025. To qualify users for the survey, respondents had to be at least 20 years of age, and use at least 20 heated tobacco sticks per week. In this report, we highlight takeaways from our proprietary survey, including consumption trends, demographics and brand awareness. We also illustrate differences between exclusive heated tobacco users(42% of respondents), and those heated tobacco users that also use cigarettes and vapes. Source: UBS Evidence Lab, all use ≥20 heated tobacco sticks per week, e.g. cigarettes/vapes = ≥20 heated tobacco sticks, and ≥1 cigarette/≥1ml vape per week Source: UBS Evidence Lab, NB Kanto/Kansai/Chubu/Kyushu/Tohoku include Tokyo/ demographic of the smoker/user. According to the survey, there was alimited difference ￥8.2m heated tobacco poly-users, cigarettes/vapes = ≥20 heated tobacco sticks, weekly basis (and c60% have used vapes in the past). We understand nicotine containing vapour liquid is classified as a medicinal product in Japan, and thus