JAPAN: Asahi to miss profit targets
"Along with other beer makers we are suffering from weaker-than-expected sales of both regular and low-malt beer," an Asahi spokesman said.
He said the company was likely to report lower-than-forecast pretax profit and sales for the half-year when it announces earnings on Thursday.
This morning shares of Asahi fell as much as 3.2% in early trading. Asahi's shares fell ¥22 to ¥670, only slightly above its 52-week low of 665 yen - before recovering slightly.
Japanese brewers have been fighting a battle against weak demand and high competition for some time.
Sectors: Beer & cider
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