Kirin Holdings Co. said Friday that its net profit for the business year ended Dec. 31 fell 35%, weighed by weak domestic demand, a write-down of its fixed assets and a securities valuation loss.
The Tokyo-based beverage company generated a net profit of Y7.41 billion in the 12-month period, compared with a year-earlier profit of Y11.39 billion.
The company, which holds a 100% stake in Australia's Lion Nathan Ltd. and 48% of the Philippines' San Miguel Brewery Inc., booked an extraordinary loss of Y96.68 billion, including a securities valuation loss of Y24.12 billion and an impairment loss of Y16.90 billion. (MarketWatch)
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