Japan: 3 major Japanese brewers reported record-high profits in 2006
Three major beer brewers in Japan saw record high profits in their 2006 business year through Dec. 31 by expanding lineups of beer-like products and offering more food and soft-drink products while demand for beer kept shrinking, according to their reports released by Thursday, Kyodo News International reported February 8.
Kirin Brewery Co. posted a record high net profit of 53.5 billion yen, up 4.4 percent from the previous year, on sales of 1.67 trillion yen, up 2.1 percent, as it had good sales of "happoshu" low-malt beers and low-priced "third category" beers.
Asahi Breweries Ltd. said its net profit rose 12.3 percent to a record high 44.7 billion yen on record high sales of 1.45 trillion yen, up 1.1 percent. Asahi was the only brewer which saw sales in beer drop. But its acquisition of major baby food maker Wakodo Co. and a solid performance at affiliate Asahi Soft Drinks Co. helped it boost profits.
Suntory Ltd.'s pretax profit jumped 29.2 percent to an all-time-high 75.5 billion yen as its sales rose 2.9 percent to 1.41 trillion yen thanks to brisk sales of its "high grade" beer products and pricey health-conscious tea products.
Suntory reduced its pretax loss in the beer segment of business to about 3 billion yen, but failed to recover profitability. For their 2007 business year, all of the three brewers expect increases in their sales and profits.
Among Japan's big four brewers, the performance of Sapporo Holdings Ltd. will be known Feb. 16.
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