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17 August, 2022



Brewing news Japan: All four major beer makers post yoy growth in consolidated revenue in January-June

All four major beer-makers in Japan posted year-on-year growth in consolidated revenue in the January-June period on the back of robust operations in overseas markets, according to their earnings reports released by August 17.

Suntory Holdings saw its revenue increase 15.2% to ¥1.373 trillion, while Asahi Group Holdings' revenue rose 11.4% to ¥1.151 trillion.

Revenue was up 6.1% at ¥917 billion at Kirin Holdings and 7.1% at ¥213.7 billion at Sapporo Holdings.

In overseas markets, consumption is on the recovery from the slump caused by the coronavirus pandemic as economic activities have been increasingly normalized.

Suntory's revenue in the first half of this year topped the level in the January-June period of 2019, before the start of the COVID-19 crisis.

Kirin performed well in its beverage operations in North America while Asahi enjoyed brisk sales of beer in the high price range in Europe.

The yen's weakening also helped boost the brewers' revenue abroad.

Suntory and Kirin saw group net profit rise year on year in the first six months of this year, by 40.2% to ¥73.9 billion and by 133.1% to ¥55.3 billion, respectively.

Net profit was down 28.1% at ¥57 billion at Asahi.

Sapporo incurred a net loss of ¥300 million, its first red ink for the first-half period in two years.

Demand for beer and quasi-beer is recovering also in the domestic market, mainly among restaurants and bars, but rising prices of materials are pressuring the brewers' earnings.

The four brewers are slated to implement price hikes in October. Asahi President Atsushi Katsuki warned that the price increases are expected to reduce demand by around 5%.

The brewers are aiming to offset an expected slump in sales after the price hikes by expanding their lineups of new products.





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