Do More With Reuters
Partner Services

Asahi targets Y200 bln overseas revenue

Fri Jun 13, 2008 2:38pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Taiga Uranaka, Ritsuko Shimizu

TOKYO (Reuters) - Asahi Breweries Ltd aims to almost quadruple its overseas revenue to 200 billion yen ($1.86 billion) within five years from 55.4 billion yen in 2007 as it tries to offset declining alcohol consumption at home.

"We would like to raise our overseas sales to 200 billion yen, and we should not take five or 10 years to achieve that," said Asahi president Hitoshi Ogita in an interview with Reuters.

The maker of "Super Dry" beer is the leader in Japan's beer market with a 37.9 percent share in 2007, but its group revenue and profits trail those of rival Kirin Holdings Co Ltd, which has been better at adapting to a changing market.

In 2007, domestic beer sales accounted for 60 percent of Asahi's overall sales and overseas revenue stood at 4 percent. The figures for Kirin were 43.6 percent and 15.8 percent, respectively.

Asahi and its Japanese rivals are trying to compete with global mega-brewers for customers as well as increasingly costly raw materials amid drastic consolidation in the beer market.

InBev has launched a $46.3 billion bid to buy Anheuser-Busch as it seeks to create the world's largest brewer with the biggest-ever takeover of an alcoholic drinks company.

"The situation will be tougher if super-big companies become even bigger," Ogita said.

While Asahi wants to expand, it is unlikely to consider large-scale acquisitions.  Continued...

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article