Loading
Search
▼ Asahi Says Korean Beer Boycott Cost It ¥3 Billion Last Year
- Category:Gourmet
TOKYO - Japanese beer and beverage maker Asahi Group Holdings said Friday a South Korean consumer boycott of Japanese goods cost it around 3 billion yen ($27.32 million) last year.
“The impact is continuing in the current year,” Atsushi Katsuki, a senior Asahi executive told reporters. In addition to lost sales, the company was having to dispose of unsold beer which were past their expiry dates, he said.
Tensions between the two countries escalated after a South Korean court in 2018 ordered Japanese companies to compensate Koreans who were forced to work for Japanese occupiers during World War Two.
Japan later retaliated by restricting exports of high-tech materials to South Korea.
Before the boycott, South Korea had bought 61% of Japanese beer exports. Asahi Super Dry was the most popular import brand in South Korea, according to Euromonitor.
Asahi Group’s operating profit in 2019 fell 4.9% from a year earlier to 201 billion yen, hit also by a higher yen. The company expects a 1% rise to 203 billion yen in the current year, missing the market’s forecast for 242 billion yen, according to Refinitiv data.
“The impact is continuing in the current year,” Atsushi Katsuki, a senior Asahi executive told reporters. In addition to lost sales, the company was having to dispose of unsold beer which were past their expiry dates, he said.
Tensions between the two countries escalated after a South Korean court in 2018 ordered Japanese companies to compensate Koreans who were forced to work for Japanese occupiers during World War Two.
Japan later retaliated by restricting exports of high-tech materials to South Korea.
Before the boycott, South Korea had bought 61% of Japanese beer exports. Asahi Super Dry was the most popular import brand in South Korea, according to Euromonitor.
Asahi Group’s operating profit in 2019 fell 4.9% from a year earlier to 201 billion yen, hit also by a higher yen. The company expects a 1% rise to 203 billion yen in the current year, missing the market’s forecast for 242 billion yen, according to Refinitiv data.
- February 18, 2020
- Comment (3214)
- Trackback(0)
Comment(s) Write comment
how much ivermectin to give a 50lb dog <a href="https://stromectolujlo.com/ ">ivermectin paste dosage for dogs</a> https://stromectolujlo.com/
-
JyhgNulajagma Web Site
- April 30, 2022
Zenegra <a href="https://dtupharmyjn.com/ ">pharmacy rx solutions</a> https://dtupharmyjn.com/
-
Ebbsaisa Web Site
- April 30, 2022
canadian pharmacy androgel pump <a href="https://jzpharmacyukj.com/ ">uk online pharmacy</a> https://jzpharmacyukj.com/
-
Nndngaima Web Site
- April 30, 2022
taking levitra after eating <a href="https://glevitrargu.com/ ">sildenafil viagra vardenafil levitra and tadalafil cialis</a> https://glevitrargu.com/
-
WnbhBries Web Site
- April 30, 2022
best canada online pharmacy <a href="https://jzpharmacyukj.com/ ">walgreens pharmacy store locations</a> https://jzpharmacyukj.com/
-
Nndngaima Web Site
- April 30, 2022
levitra headache <a href="https://glevitrargu.com/ ">levitra best price</a> https://glevitrargu.com/
-
WnbhBries Web Site
- April 30, 2022
canadian drug <a href="https://dtupharmyjn.com/ ">canadian drug pharmacy viagra</a> https://dtupharmyjn.com/
-
Ebbsaisa Web Site
- April 30, 2022
best price for viagra 50mg <a href="https://sgiviagraikn.com/ ">viagra rx</a> https://sgiviagraikn.com/
-
Jebgaima Web Site
- April 30, 2022
cost of sildenafil <a href="https://sildenafilkiol.com/ ">who makes sildenafil</a> https://sildenafilkiol.com/
-
AnbnAmows Web Site
- April 30, 2022
ivermectin side effects in humans <a href="https://stromectolujlo.com/ ">stromectol drops</a> https://stromectolujlo.com/
-
JyhgNulajagma Web Site
- April 30, 2022
online pharmacy tech training <a href="https://jzpharmacyukj.com/ ">Zovirax</a> https://jzpharmacyukj.com/
-
Nndngaima Web Site
- April 29, 2022
are prescription drugs taxed <a href="https://dtupharmyjn.com/ ">official canadian pharmacy</a> https://dtupharmyjn.com/
-
Ebbsaisa Web Site
- April 29, 2022
non prescription online pharmacy reviews <a href="https://jzpharmacyukj.com/ ">prescription drugs in mexico</a>
-
Eaaqsaisa Web Site
- April 26, 2022
canadian pharmacy 24 com <a href="https://epharmsdvu.com/ ">pharmacy rx by crystal zamudio</a>
-
Ntcxgaima Web Site
- April 26, 2022



JyhgNulajagma Web Site- April 30, 2022