15 February, 2023

Japan: All four leading brewers report consolidated sales growth in 2022

All of Japan's four major beer makers have reported consolidated sales growth in 2022, buoyed by their first price hikes for canned beer products in the country in 14 years, Jiji Press reported on February 15.

The growth also reflected a recovery in demand from restaurants and bars following a slump caused by the novel coronavirus pandemic.

Last year, the domestic beer and quasi-beer market expanded for the first time in 18 years.

Suntory Holdings Ltd. saw its group net profit grow 19.5 pct to 136.2 billion yen. Kirin Holdings Co.'s bottom line jumped 85.7 pct to 111 billion yen.

By contrast, Asahi Group Holdings Ltd.'s net profit fell 1.3 pct to 151.5 billion yen, chiefly reflecting an impairment loss related to a plant closure.

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