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Kirin says pre-tax profit rose in first half.

Kirin Brewery Co. has reported that its pre-tax profit rose in the first half of the year. kirin sales increased 1.9% during the period, and overall beer sales ticked upwards 0.5%. For the full fiscal year, Kirin is predicting a 3% increase in its sales.

The Japanese market enjoyed a 20% surge in beer sales during July, as the country labored through a hot spell. Kirin officials said that the jump was seasonal, and did not expect the trend line to continue beyond the summer.

Kirin has announced plans to cut costs to remain profitable in the country's increasingly competitive beer market. These measures include the importation of beer bottles from South Korea and labels from Canada.

In May, Kirin began importing beer cans and Kirin Ice Beer from the United States.

According to an article in the Wall Street Journal, the imported beer boom continues in Japan, as marketers take advantage of the high yen to bring in cheap European and American brands. These beers are sold at prices as much as 40% lower than domestic brands, the article reported. Japanese supermarkets and chain stores have also moved to discount domestic brands. These trends will force Kirin and other breweries to lower prices, a kirin spokesperson was quoted as saying.
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Title Annotation:Kirin Brewery Company Ltd.
Publication:Modern Brewery Age
Date:Aug 8, 1994
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