Philip Morris Targets Aging Japan Smokers With Cultural Spin

Philip Morris International Inc. is trying on a new strategy to appeal to more conservative smokers in Japan who aren’t willingly exchanging their cigarettes for high-tech gadgets. The reasons behind the deceleration: increased competition and difficulty breaking into an older, more rural demographic, according to Chief Executive Officer Andre Calantzopoulos. More than 5.4 million Japanese consumers were using iQos as of March, and investors see it as a test case for how it could expand across the globe.