Kirin has also lowered its earnings estimates for the full year. It is now predicting a group net profit of Y26 billion for the full year, representing a 12% year-on-year increase. The company is forecasting a 6.6% improvement in operating profit to Y80 billion and a 1.2% sales increase to Y1.58 trillion. In its earlier forecast, the company was predicting a group net profit of Y29 billion and an operating profit of Y84 billion on sales of Y1.6 trillion.
JAPAN: Sales and profit fall at Kirin
The Japanese brewer, Kirin Brewery Co., reported that group sales had fallen by 2.7% in the six months to the end of June to Y727.89 billion. In the same period, net profit fell by 27% to Y10.32 billion. The company also reported a 6.6% decline in group operating profit to Y33.80 billion. It blamed the declines on falling beer sales.