Japan: Asahi Breweries has revised its group net profit estimate upwards. The Japanese brewer said on July 27 that it has upped its estimate for January to June to JPY15.4 billion from its previous forecast of JPY9 billion. At the same time, Asahi lowered its six-month sales target to JPY648.1 bln from JPY667 bln.

The company also raised its consolidated recurring profit projection for the same period to JPY36.1 bln from JPY27.5 bln.

The upward revisions stem from Asahi’s successful efforts to cut production and distribution costs, as well as fixed expenses like sales promotion costs, the company said. They also reflect an upward revision of earnings estimates at its subsidiary, Asahi Soft Drinks Co.

28 July, 2004