Japan: Asahi Breweries Ltd), Japan's top brewer, said on February 24 it aims to more than double net profit to 50 billion yen ($461.9 million) in the next three years by boosting its beverage, drug and food business. Asahi, known for its flagship "Super Dry" beer, expects beverage sales to grow to 300 billion yen in 2006, accounting for 18.1 percent of its estimated total sales of 1.66 trillion yen, up from 13.5 percent in 2003, according to Reuters.

"By strengthening development capabilities and forming alliances with other firms, we will expand the scope of our beverage business," Asahi said in a three-year business plan. Drug and food sales in 2006 are estimated at 50 billion yen, accounting for three percent of total sales, compared with 1.6 percent now.

Asahi plans to lessen its reliance on the mainstay beer business, anticipating a fall in its sales ratio to 72.3 percent in 2006 from the current 79 percent. Asahi last week scored a 57.3 percent gain in net profit to 23.21 billion yen for the year to December 2003 on strong sales of "chuhai," an alcohol-laced fruit-flavoured drink, and "happoshu" low-malt beer substitute. Its beverage business also returned to profit during the year.

25 February, 2004