China: Asahi Breweries targets profitability in China next year

Asahi Breweries Ltd. plans to make its operations in China profitable in fiscal 2011, Nikkei English News reported on August 12, citing an interview with company President Naoki Izumiya.

Asahi’s Chinese business has lost money every year since 1994, Nikkei said. The company expects to incur a 1.5 billion yen loss ($17.5 million) during the current fiscal year, Nikkei said.

The company may also divest its 58% owned Haitai Beverage Co. subsidiary in South Korea, Nikkei said, citing Izumiya.

13 August, 2010