Sapporo Holdings, the owner of Japanese Sapporo brewing business, has reported a net loss of Y13.4 billion for the first six months of the year to June 29 versus a net loss of Y6.2 billion in the first half of 2002. Sapporo has posted sales of Y215.6 billion, 10.3% down versus the same period last year. Meanwhile operating losses from its beer businesses reached Y3.0 billion against Y1.7 billion in the first half last year. Last week the company forecast an increase in its first-half net loss. The deepening losses were attributed to soft beer sales. Sales volumes of happoshu, fell steeply following the tax increase on the product, Sapporo said.

13 August, 2003