Japan: All four major beer makers report growth in sales and net profits last year

All four major Japanese beer makers logged year-on-year growth in their group sales and net profits in 2023, thanks to price hikes at home and strong performances abroad amid the yen's weakening, according to earnings reports they released by February 16.

Suntory Holdings Ltd.'s sales jumped 10.6 pct from the previous year to a record 3,285.1 billion yen. Asahi Group Holdings Ltd.'s sales rose 10.3 pct to 2,769 billion yen, hitting a record high.

Kirin Holdings Co. saw its sales rise 7.3 pct to 2,134.3 billion yen, topping 2 trillion yen for the first time since it adopted the current accounting standard. Sapporo Holdings Ltd.'s sales expanded 8.4 pct to 518.6 billion yen.

Suntory's net profit surged 26.8 pct to 172.7 billion yen. Asahi's net profit was up 8.3 pct at 164 billion yen, with Kirin's net profit rising 1.5 pct to 112.6 billion yen. Sapporo's net profit soared 60.1 pct to 8.7 billion yen.

For the business year to December 2024, the three companies other than Suntory project rises in their sales and net profits. Suntory's net profit is estimated to decline, following profit growth in the previous year that stemmed from a tax system revision in the United States.

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