E-Malt.com News article: 2031

Asahi Breweries Ltd, Japan's top brewer, said on January 7 it expected its combined sales volume of beer and low-malt "happoshu" to be flat this year after a 2.6 % slide in 2003, Reuters report revealed. The company said it expected the overall Japanese market for beer and happoshu to decline slightly in 2004 as consumers turned to alternatives such as wine and cocktails.

Industry beer sales were seen falling some 6 % while happoshu sales were seen climbing by the same percentage. Asahi's own beer sales were seen down 5.5 % but its happoshu sales were expected to rise 17.2 % on the strength of new products, including its "Honnama Aqua Blue" launched last July. Cool weather during the summer months, a tax rise on happoshu in June and sluggish consumer spending hurt Asahi last year.

In August it cut its projection for net profit for the last business year to December to 21 billion yen ($197.8 million) from an earlier estimate of 26 billion yen, but it has since reported nine-month profits of 21.29 billion. Asahi will report its results for 2003 in late February.


13 January, 2004