JAPAN: Brewers’ FY forecasts set to drop again
Japan's three largest brewers may be forced to downgrade their full year earnings projections yet again. High promotional expenses and slow sales in the country have hit Sapporo, Asahi and Kirin Breweries. All three have already lowered their forecasts once this year following slack H1 figures.
Sapporo Holdings revised its operating profit projections down by 42% year-on-year to JPY13.7bn (US$125m), as it plans to increase its group promotional expenditures by JPY8.9bn from last year. Asahi, meanwhile reduced its forecast for group operating profit to around JPY1bn less than its initial projection of JPY101.5bn, the same as last year.
Despite favourable sales of Nodogoshi Nama third beer, Kirin expects group operating profit for 2005 to be around JPY1bn lower than its initially-projected JPY110bn.
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....
Beer and beer-like shipments registered a small rise last month for five Japanese brewers....
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