Japan: Kirin Brewery 2005 operating profit hit record-paper

Kirin Brewery Co.'s operating profit for 2005 slightly topped its own forecast and hit a record high thanks to strong sales of beer-like drinks, business daily Nihon Keizai reported on January 6, according to Reuters.

Japan's second-biggest brewer will post a group operating profit of 112 billion yen ($965 million), above its own forecast in August of 110 billion yen, for the calendar year, the paper said.

Kirin introduced a so-called "third-type" beer, Nodogoshi Nama, in April, snatching top share of the growing lower-priced segment -- in which it now controls about 35 percent -- from Sapporo Holdings Ltd .

The product, along with the company's popular low-malt "happoshu" brews, boosted Kirin's sales in the third quarter by 5 percent while the overall beer market shrank.

But the paper said Kirin's consolidated sales for 2005 slipped 2 percent to 1.63 trillion yen, falling short of its own forecast by about 20 billion yen, hit by poor sales at its subsidiary Kirin Beverage Corp.

11 January, 2006