World: Kirin Holdings reports 48% drop in fiscal 2024 profit

Japanese beer and beverage company Kirin Holdings Co. Ltd. on February 14 reported a 48 percent drop in profit during fiscal 2024. Revenues, however, rose 9 percent from last year. The company also revealed its outlook for full-year 2025.

The company posted profit attributable to owners of the company of 58.21 billion yen or 71.86 yen per share, down from 112.70 billion yen or 139.15 yen per share last year. The profit was impacted by loss on step acquisitions resulting from the consolidation of FANCL, structural reform of Kyowa Hakko Bio's amino acids, etc., and impairment losses on equity-method affiliate in the overseas beer businesses.

Normalized operating profit for the year rose to 210.97 billion yen from 201.50 billion yen a year ago.

Full-year revenue climbed to 2.34 trillion yen from 2.13 trillion recorded in the previous year.

Looking ahead for fiscal 2025, the company expects profit attributable to owners of the company to the tune of 150.0 billion yen or 185 yen per share, a growth of 158 percent from last year.