JAPAN: Sapporo warns tax hike will hit sales
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.
The Japanese beer producer said it "resolutely opposes" the tax hike which it said would be a substantial blow to the company.
In raising the tax rate on third category beer, the government would be following the same course of action it adopted with happoshu low-malt beer. The government increased taxation on happoshu in 2003 after brewers had exploited its low tax rate, creating a boom in sales. Following the tax increase, growth in happoshu was checked.
Japanese beer maker Sapporo Breweries is eyeing an investment in the Indian market, according to local reports....
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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 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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