Summary of Third Quarter Financial Results for the Fiscal Year Ending December 2025 [IFRS] (Consolidated)

Overview of Business Performance

In the consolidated cumulative third quarter period of the fiscal year ending December 2025, revenue was JPY 2,154.824 billion (0.6% decrease YoY), operating profit before operating income was JPY 202.432 billion (5.5% decrease YoY), operating income was JPY 158.712 billion (18.0% decrease YoY), and net income attributable to owners of the parent was JPY 102.801 billion (26.2% decrease YoY). Adjusted net income attributable to owners of the parent was JPY 126.556 billion (9.9% decrease YoY). Excluding the effects of foreign exchange fluctuations, revenue increased by 0.6% YoY, and operating profit before operating income decreased by 4.6%. System disruptions caused by cyber attacks had a minor impact on revenue but contributed to approximately 1% decrease in operating profit before operating income.

Performance by Segment

The reporting segments were revised to three: 'Japan & East Asia,' 'Europe,' and 'Asia Pacific.' Japan & East Asia recorded revenue of JPY 1,028.524 billion (1.3% increase YoY) and operating profit before operating income of JPY 99.959 billion (3.1% decrease YoY), driven by strengthening core brands and expanding high value-added products. Europe reported revenue of JPY 582.590 billion (2.2% decrease YoY) and operating profit before operating income of JPY 91.828 billion (2.4% increase YoY), focusing on premium beer and global brand expansion. Asia Pacific achieved revenue of JPY 531.286 billion (2.4% decrease YoY) and operating profit before operating income of JPY 59.495 billion (6.2% decrease YoY), promoting product portfolio enhancement and premiumization.

Financial Position and Cash Flow Overview

Consolidated total assets were JPY 5,577.923 billion, an increase of JPY 174.517 billion from the previous fiscal year-end. Liabilities stood at JPY 2,762.012 billion, increasing by JPY 32.748 billion. Equity was JPY 2,815.82 billion, up JPY 141.769 billion, with the equity ratio attributable to owners of the parent at 50.4%. Cash flows from operating activities netted an inflow of JPY 148.363 billion; cash flows from investing activities recorded an outflow of JPY 153.297 billion; cash flows from financing activities showed an outflow of JPY 9.23 billion. As a result, cash and cash equivalents increased by JPY 38.746 billion to JPY 84.948 billion.

Outlook

There is no change to the full-year earnings guidance for the fiscal year ending December 2025, with expected revenue of JPY 2,950 billion (0.4% increase YoY), operating profit before operating income of JPY 290 billion (1.7% increase YoY), operating income of JPY 255 billion (5.2% decrease YoY), and net income attributable to owners of the parent of JPY 167.5 billion (12.8% decrease YoY). The impact of the cyber attacks on performance is still under review, and any significant developments will be promptly disclosed.