Profits will be up
Kirin Brewery Co. expects pre-tax profit for the current financial year ending December 2000 to rise 17% to ¥76 billion (US$760m). The brewer hopes to increase the sales of its low-malt beverages and to reduce expenses on promotions. It plans to benefit from streamlining production following the closure of its plant in Takasaki, Gunma Prefecture. Extraordinary profit from the sale of the brewery site in Tokyo, totalling at ¥2 billion, will go toward covering the ¥15 billion extraordinary loss incurred from closing the Takasaki plant.
As a result, net profit growth is forecasted at 10% to ¥33 billion. Sales for the year 1999 likely dipped 4% to ¥1.1 trillion as combined sales of regular beers and low-malt beverages fell 1.7%..
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