JAPAN: Brewer's droop hits Japan
Kirin Brewery said sales fell 5.4%, but the firm's pretax profits jumped 8.3% to Y33.25 billion, for the six months ended June 30 2000. Sales totalled Y4.86.75 billion. However operating profits fell 6.3% to Y22.77 billion.
Kirin's managed to report a gain in pretax profits because of an accounting change in reporting unrealised losses from securities.
Kirin reported that the volume of sales fell 5.9%, with Kirin lager dropping 19%. However sales of low-malt Kirin Tanrei climbed 13%. Low malt beer is cheaper than normal beer as it is subject to a lower tax rate.
Sapporo Breweries saw a fall of 3.6% in sales in the first half to Y215.24 billion. Unconsolidated pre-tax profits slumped 65% to Y1.17 billion. Operating profits fell 26% to Y4.02 billion.
Sapporo Breweries has said it aims to almost triple operating profit within three years....
Falling sales of traditional beers and increased competition in the "third beer" category have seen Sapporo Holdings report a 22% fall in 2005 net profits....
Sapporo Holdings has lowered its full-year profit forecast....
Sapporo Breweries has reportedly become the first major Japanese beer maker to warn of flat domestic beer sales this year....
Sapporo Breweries is poised to buy Kikkoman Corp.'s spirits sales and production operations....
Sapporo Breweries has said that sales its of so-called "third category" beer would fall by 30% if the government goes ahead with plans to raise the tax rate on the product....
Sapporo Holdings has registered a massive drop in operating profit for the first nine months of this year....
Sapporo Breweries has raised its sales targets for its low-alcoholic fruit drink brand "Fruit Sparkling"....
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