3 Major Japan Brewers Log Higher Revenue in Jan.-June

Tokyo, Aug. 8 (Jiji Press)–Three major brewers in Japan posted year-on-year growth in consolidated revenue in January-June, on the back of strong sales of beer and other products, according to their earnings reports released Friday. Suntory Holdings Ltd. saw its revenue increase 7.1 pct to 1,733.1 billion yen thanks to robust domestic sales of its flagship brands and the popularity of new carbonated beverage Nope Guilty CSD. But operating profit from its alcoholic drink business dropped 24.6 pct due to sluggish consumption by middle- and low-income people in the United States amid persistent inflation in the country. Kirin Holdings Co.’s revenue hit a record high of 1,217.8 billion yen, up 7.2 pct, pushed up by brisk demand for both alcoholic and nonalcoholic drinks. Its health care and medical divisions also fared well. The company revised up its full-year earnings forecast. The impact of the Middle East turmoil on Kirin’s earnings is estimated at about 10 billion yen for the full year to December. “It’s a huge impact, but we will promote group-wide efforts to achieve our initial earnings goals,” Kirin Senior Executive Officer Hiroaki Takaoka said at a press conference Friday. Revenue at Sapporo Holdings Ltd. rose 0.3 pct to 235.9 billion yen. Beer sales were strong both in Japan and overseas. Growth was particularly robust in Asia. Another major Japanese brewer Asahi Group Holdings Ltd. will release its earnings results Friday next week. END [Copyright The Jiji Press, Ltd.]