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Japan-Update

Asahi seen reporting record profit for 6th straight year

Low-tax no-malt beer a hit after brand renewal

Sales of Clear Asahi, a no-malt beer, grew by double-digits in 2016.

TOKYO -- Asahi Group Holdings' operating profit likely rose 4% in the year ended December, thanks to brisk no-malt beer sales, setting a record for the sixth year running.

The brewer apparently logged around 141 billion yen ($1.24 billion) in consolidated operating profit for the year by Japanese accounting standards, beating guidance of 140.7 billion yen. A transition to International Financial Reporting Standards beginning with 2016 earnings will likely tack on a few more billion yen by excluding the amortization of goodwill.

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