14 August, 2024

Japan: All four major brewers report higher sales in the first half of the year

All four major Japanese brewers posted higher sales for the first half of this year, thanks chiefly to price increases and the yen's weakening, according to their earnings reports released by August 13.

Suntory Holdings Ltd., Asahi Group Holdings Ltd. and Kirin Holdings Co. saw their profits rise, while Sapporo Holdings Ltd. regained profitability.

In January-June, Suntory's revenues from its beverage and food operations rose 9.1 pct from a year before thanks mainly to strong sales of its flagship product, "Suntory Natural Mineral Water" although the company suffered a fall in sales of quasi-beer products.

Asahi enjoyed solid performances in both overseas and domestic markets, reflecting price hikes and the introduction of high-priced items for its alcoholic and other beverage products. The company has revised up its annual earnings forecasts.

Kirin's earnings were boosted by strong sales of "Harekaze," a new beer brand it released in April, and Hyoketsu "chuhai" alcoholic beverages. Meanwhile, the company has revised down its annual profit projection after reviewing the capital structure of an Australian subsidiary.

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