JAPAN: Kirin to post buoyant earnings - report

By just-drinks.com editorial team | 7 July 2006

Japanese brewer Kirin Brewery looks likely to post a 17% leap in half-year earnings thanks to rising sales of low-malt and no-malt beer-based drinks, local reports said today (7 July).

Kirin, which is battling with rival Asahi Breweries to claim leadership of the Japanese beer market, was reportedly likely to post operating profit of around JPY44bn (US$384m).

A Kirin spokesperson told Japan's Nihon Keizai business daily that the results would be close to the reported figures but she refused to confirm the numbers. The half-year results are due on 10 August.

Kirin has said it wants to see a "quantum leap" from its business by 2015 and has embarked on an organisational overhaul of the company.

The first step was announced in May when the company revealed it wants to take full control of soft drink associate Kirin Beverage Corp, in which it holds a 59.4% stake.

The aim of the overhaul is to invest behind the Kirin brand, which can act as a "unifying force" for the group, the company said. Kirin also wants to generate 30% of sales and profits from markets outside Japan by 2015.

Sectors: Beer & cider, Soft drinks

Companies: Kirin, Asahi