Japan: Three of Japan’s leading four brewers enjoy sale growth in January-June
Three of Japan’s four major brewers have enjoyed group sale growth in January-June thanks to brisk demand for beer and quasi-beer products, according to their latest earnings data, The Japan News reported on August 7.
The three are Suntory Holdings Ltd., Kirin Holdings Co. and Sapporo Holdings Ltd. Asahi Group Holdings Ltd. is the only one that suffered a sales drop.
For the first half of 2019, Suntory scored record sale volume for beer and quasi-beer products, excluding alcohol-free beer.
The company’s consolidated sales totaled ¥1,230.9 billion, up 3.5 percent from a year before.
Kirin saw its sales rise 1.3 percent to ¥929.8 billion, as “third-segment” beer-like beverages sold well.
Sapporo’s sales inched up 0.5 percent to ¥242.9 billion, led by the strength of its mainstay Black Label draft beer. Its alcoholic-beverage operations in Japan and other parts of Asia turned profitable.
In contrast, Asahi’s sales fell 2.1 percent to ¥983.8 billion due to slack sales of beer and other alcoholic beverages in Japan.
But Asahi reported a net profit increase of 1.9 percent to ¥61.5 billion, backed by brisk sales of its high-end premium beer in Europe.
Meanwhile, Kirin incurred a net loss of ¥7.3 billion mainly owing to an impairment loss on a subsidiary’s Australian beverage business. Sapporo also logged a net loss, reflecting sluggish food and beverage business in Japan.
For the full year to December, Asahi and Kirin revised down their earnings forecasts.
“We estimate conservatively the impact of unstable weather in July and a consumption tax hike in October,” Asahi Chief Financial Officer Atsushi Katsuki said.
Înapoi
(libra 0.7930 sec.)