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Sapporo BreweriesSAPPORO BREWERIES LIMITED2501東証プライム食料品FY ending Dec 2025, consolidated, IFRS

Sapporo Breweries FY ending Dec 2025 results

About 79% of Sapporo Breweries's sales come from Alcoholic Beverages, with Food and Soft Drinks making up much of the rest.

Out of every ¥100 of sales, about ¥5 is left as operating profit.

Revenue changed -1.1% from the prior year, operating profit +332.9%.

Revenue and profit pattern

Revenue down, profit up

Revenue -1.1% · profit +332.9%, calculated from disclosed figures.

Operating leverage: -306.10× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue
-1.1%¥512.4B → ¥506.9B
Gross profit
+4.8%¥159.4B → ¥167B
Operating income
+332.9%¥5.64B → ¥24.4B
Net income attributable to owners
+152.8%¥7.71B → ¥19.5B
Operating cash flow
+23.5%¥36.1B → ¥44.6B
Free cash flow
+87.8%¥16.6B → ¥31.2B

Results at a glance

  • Revenue for FY ending Dec 2025 was ¥506.9B, down -1.1% from ¥512.4B.
  • Profit moved the other way: operating income rose +332.9% to ¥24.4B, and net income attributable to owners rose +152.8% to ¥19.5B.
  • Cash generation also improved, with operating cash flow at ¥44.6B (+23.5%) and free cash flow at ¥31.2B (+87.8%).

What drove the change

  • Strong beer sales in Japan and an April price increase lifted alcoholic beverage revenue
  • Food and soft drink sales fell after earlier business sales and a temporary halt at the Malaysian plant, pulling total revenue down
  • Operating income jumped mainly because last year's goodwill impairment on Stone Brewing did not repeat

Things to watch

  • Beer demand in Japan could shrink faster than expected as the market contracts and people drink less for health reasons
  • Restructuring in North America and fixing export and licensing profits may not go to plan
  • Price competition in Singapore and Malaysia, and geopolitical trouble in export markets, could hurt the drinks business

Annual securities report (FY2025) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual securities report (FY2025) / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

For every ¥100 Sapporo Breweries sells, how much goes where, and how much is kept.

FY ending Dec 2025
Cost of sales
¥67
SG&A
¥28
Operating profit
¥5
Net profit kept
¥4

Annual margin trends

Gross margin33.0%
FY ending Dec 2020: 30.4%30.4%FY ending Dec 2021: 30.6%30.6%FY ending Dec 2022: 29.1%29.1%FY ending Dec 2023: 30.2%30.2%FY ending Dec 2024: 31.1%31.1%FY ending Dec 2025: 33.0%33.0%FY20FY21FY22FY23FY24FY25
Operating margin4.8%
FY ending Dec 2020: -3.7%-3.7%FY ending Dec 2021: 5.0%5.0%FY ending Dec 2022: 2.1%2.1%FY ending Dec 2023: 2.3%2.3%FY ending Dec 2024: 1.1%1.1%FY ending Dec 2025: 4.8%4.8%FY20FY21FY22FY23FY24FY25
Net margin3.8%
FY ending Dec 2020: -3.7%-3.7%FY ending Dec 2021: 2.8%2.8%FY ending Dec 2022: 1.1%1.1%FY ending Dec 2023: 1.7%1.7%FY ending Dec 2024: 1.5%1.5%FY ending Dec 2025: 3.8%3.8%FY20FY21FY22FY23FY24FY25

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Dec 2025

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第102期(2025/01/01－2025/12/31)

    ID S100XTM02026-03-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第101期(2024/01/01－2024/12/31)

    ID S100VITK2025-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第100期(2023/01/01－2023/12/31)

    ID S100T5WI2024-03-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第99期(2022/01/01－2022/12/31)

    ID S100QILX2023-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第98期(令和3年1月1日－令和3年12月31日)

    ID S100NSHB2022-03-31Open

  • EDINET (FSA Japan)

    有価証券報告書－第97期(令和2年1月1日－令和2年12月31日)

    ID S100L3AS2021-03-31Open

Extracted from XBRL: 45 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

Other periods

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