Kirin Raises Earnings Forecast

The company expects that consolidated interim ordinary income will be ¥56.0 billion, 47.4% higher than previous forecast, and consolidated interim net income will be ¥14.0 billion, 40.0% higher than previous forecast.

28 Jul 2009 Kirin Holdings Company, Limited has revised its consolidated earnings results forecast for the interim period of fiscal 2009, (previously announced on February 10, 2009) in consideration of its recent business performance and other factors.

Due to fluctuations in exchange rates since the end of 2008 a currency-related gain has arisen on yen denominated Group loans of Kirin's consolidated subsidiaries in Australia.

As a result the company expects that consolidated interim ordinary income will be ¥56.0 billion, 47.4% higher than previous forecast, and consolidated interim net income will be ¥14.0 billion, 40.0% higher than previous forecast.

Earnings forecasts for the full year (consolidated and non-consolidated) will be disclosed at the time of announcement of its interim results, which is scheduled for August 6, 2009.

Kirin, Japan's second-largest beer maker, and Suntory, the No. 3 brewer, recently began talks for an integration that would create one of the world's largest beverage and food companies with combined consolidated sales of around ¥3.80 trillion.