Kirin group net profit up sevenfold

Kyodo

Kirin Holdings Co. said its group net profit shot up more than sevenfold in 2012 to ¥56.20 billion due to a sharp fall in special losses as well as a rise in sales.

Its special losses plunged from ¥96.68 billion in 2011 to ¥38.89 billion last year, while sales expanded 5.5 percent to ¥2.19 trillion.

Kirin said Thursday its overseas liquor and soft drink sales in the year scored a robust increase of 27.6 percent after a Brazilian subsidiary achieved an improvement in earnings.

The robust earnings led Kirin to raise dividends for the year to ¥29 per share from ¥27 in the previous year.