Top Japan brewers tap cost cuts for strong 2003

TOKYO: Two of Japan’s top brewers – Asahi Breweries Ltd and Sapporo Holdings Ltd – reported a surge in 2003 profits yesterday as cost cuts offset a slump in domestic beer sales, with Asahi forecasting an even better 2004. 

Japanese beer makers, faced with a steep contraction in the domestic beer market due to a shift in consumer tastes, have been aggressively cutting costs and diversifying their product line-ups to make up for sales shortfalls in their core business.